April 26, 2021
Farm Succession: Contingency Plan
A contingency plan is a set of procedures that defines how a business will operate in the event that some sort of disruption to the business occurs. In this Purdue Commercial AgCast episode, the ninth in our Farm Transition Planning series, Dr. Maria Marshall and Renee Wiatt join Dr. Brady Brewer to discuss what is in a contingency plan, risks that a contingency plan can cover, and why having one is needed for a successful farm transition.
The companion episodes in this podcast series can be found at http://purdue.ag/successionplan:
- “Farm Transition Planning”, June 24, 2020
- “Farm Succession: Transitioning Business Management”, July 22, 2020
- “Farm Succession: Feasibility of Adding A Family Employee”, August 20, 2020
- “Farm Succession: Human Resources For Transition Planning”, September 30, 2020
- “Farm Succession: Conflict Management For Transition Planning”, December 18,2020
- “Farm Succession: Business Governance For Transition Planning”, January 26, 2021
- "Farm Succession: Business Entities", February 24, 2021
- "Farm Succession: Operating Agreements", March 17, 2021
More information from the Purdue Farm Transition Team can be found here and resources from the Purdue Institute for Family Business can be found at https://purdue.ag/fambiz and don’t forget to follow and subscribe to the farm succession planning YouTube channel.
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RELATED RESOURCES
UPCOMING EVENTS
Join educators from across the Midwest to build skills for communicating soil health concepts on Nov. 4-5, 2026. In the field, we’ll evaluate the relationship between soil health and water management focusing on irrigation and edge of field practices. The in-service will have both classroom and on farm demonstrations.
The Land of Opportunity: A Conference for Farmland Owners will be held at two locations on October 5 and October 6, providing farmland owners with valuable information and resources to help them make informed decisions about their land. The conference will feature keynote presentations, educational breakout sessions, and networking opportunities designed specifically for those who own, manage, or have an interest in farmland.