Studies show that roughly 89% of farmers today do not have a transition in place, which makes it difficult for the next generation to succeed. DFA Insurance partners with several quality providers — including Nationwide’s Land As Your Legacy program — to assist you in easing the transition to the next generation and ensuring long-term success for your operation. DFA Insurance will evaluate your farm and your specific situation to provide a recommendation for the best transition plan for you.
As an example, the Land As Your Legacy program looks at the following key elements:
- Succession Planning – The successful transition of your business to the next generation
- Business Planning – Your strategy for profitability now and in the future
- Risk Management – Identifying and preparing for risks to your operation, including health insurance, long-term care and property and casualty insurance
- Financial Independence – Ensuring your financial independence from the farm operation after retirement and mentorship training for the next generation
- Estate Planning – How you would like your assets distributed and liabilities paid