How Farmland Succession Matters for Estate Plans of All Types- Lance Weaver, Sower

Farmers are retiring in record numbers, and the future of their farmland, who owns it, and what it means to their families is going to affect all of us in the coming years. In this episode, we talk with Lance Weaver, the Director of Business Development for the Sower Legacy Farmland Fund.

We discuss the concept of the fund and how it offers a unique solution for farmers looking to retire or transition their farms to the next generation. The conversation covers topics such as succession planning, transferring property to the fund, preserving the identity of the farm, liquidity, diversifying portfolios, and hedging against inflation. We also touch on the challenges and trends in the farmland investment sector. We explore the Sustainable Farming and Land Trust and discuss the importance of preserving farmland and the challenges faced by farmers in passing on their legacy. Lance explains how SFM helps farmers protect their land and ensure its sustainable use for future generations.

The conversation concludes with information on how interested individuals can get in touch with SFM.

Check out Sower here: https://sowerfarmland.com/
Follow Lance Weaver here: https://www.linkedin.com/in/lance-weaver-86394921/

Takeaways
•The Sower Legacy Farmland Fund provides a solution for farmers looking to retire or transition their farms to the next generation.
•Transferring farmland to the fund allows farmers to avoid capital gains tax and receive shares in the fund.
•The fund offers flexibility in terms of leasing the land back to the farmer or selling it with a first right of refusal for the family.
•Investing in farmland can provide diversification, hedge against inflation, and offer stability in an uncertain market.
•Farmers and landowners should carefully consider their financial situation, understand their numbers, and seek professional advice to make informed decisions.

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