Planning the Future of Your Farm - A Workbook Supporting Farm Transfer Decisions - Virginia Edition

Sep 20, 2026

Planning the Future of Your Farm: A Workbook Supporting Farm Transfer Decisions, Virginia Edition, is an educational resource created and revised by attorney Robert Andrew Branan. It supports farm families in planning ownership and business transfer by outlining vision development, risk management using the “5 D’s,” goal setting, and structured family communication. The workbook then guides evaluation of farm and community resources and introduces practical farm transfer tools, including estate planning documents, tax updates, entity choice, buy-sell agreements, and lease development for agricultural operations.

LanguageEnglish

CategoryResearch & Report

FormatPDF

Pages114

Reading Time4 h 47 min

AccessFree to download

Acknowledgements

About the Virginia Edition

How to Use This Workbook

Section One: Developing a Vision for the Future

Farm Transfer Planning: A Suggested Definition

Farm Transfer Planning: How to Begin

Managing Risks with Farm Business Transfer: The 5 D’s

Worksheet 1.1: Quick Risk Assessment: The 5 D’s

Improving Farm Family Communication

Developing Goals and Meeting Objectives

Worksheet 1.2: Planning the Family Meeting

Worksheet 1.3: Rating Family Values

Worksheet 1.4: Rating Your Comfort Level

Worksheet 1.5: Sketching Your Lifestyle Plan

Worksheet 1.6: Estimating Income and Expenses

Worksheet 1.7: Setting Goals and Objectives

Worksheet 1.8: Reconciling Priorities

Worksheet 1.9: Turning Goals and Objectives into Action

Section Two: Evaluating Your Farm Resources

Evaluating Your Farm and Community Resources

How Do You Own Your Property?

Worksheet 2.1: Evaluating Farm Resources

Section Three: Farm Transfer Tools

The Tools of Farm Transfer

Basic Estate Planning Documents: Wills, Trusts, and Gifting

About the Federal Estate Tax: A 2012 (and 2013) Update

Entity Choice for Agricultural, Forestry, or Horticultural Ventures

What is a Buy-Sell Agreement?

Developing A Lease for the Farm

Planning the Future of Your Farm AWorkbook Supporting Farm Transfer Decisions Virginia Edition Created and edited by Robert Andrew Branan, Attorney Revised 2012 Publication 446-610 Acknowledgements Planning the Future of Your Farm: A Workbook on Farm Transfer Decisions, was created and developed by Robert Andrew Branan, an attorney in Hillsborough, North Carolina who concentrates his law practice inmost things farming. Narratives authored by other people, who graciously donated their expertise toward the educational success of this workbook, are noted in an editor’s note at the beginning of each article. Those narratives without identified authors are written by Mr. Branan, who would like to be credited when these narratives are reproduced elsewhere. Supporting worksheets were inspired by numerous sources, and have evolved through preceding editions ofthe workbook. Planning the Future of Your Farm, Virginia Edition, was published with support from the Southern Region Risk Management Education Center (SRRMEC) and the Virginia Department of Agriculture and Consumer Services. Previous versions have been published in North Carolina, South Carolina and Georgia with support from the USDA Risk Management Agency (RMA) Community Outreach and Education program, the Southern Region Risk Management Education Center (SRRMEC), and the Golden LEAF Foundation (North Carolina only) . This publication is intended for educational purposes only. Table of Contents Acknowledgements..........................................................................................................................2 About the Virginia Edition ...............................................................................................................5 How to Use This Workbook.............................................................................................................6 Section One: Developing a Vision for the Future ...................................... 7 Farm Transfer Planning: A Suggested Definition ...........................................................................9 Farm Transfer Planning: How to Begin ........................................................................................10 Starting with What You Want.........................................................................................................12 Managing Risks with Farm Business Transfer: The 5 D’s ...........................................................14 Worksheet 1.1: Quick Risk Assessment: The 5 D’s ...........................................................17 Improving Farm Family Communication ......................................................................................18 When Family Business Transition Makes No Sense .....................................................................20 Developing Goals and Meeting Objectives ..................................................................................22 Worksheet 1.2: Planning the Family Meeting ...................................................................24 Worksheet 1.3: Rating Family Values ...............................................................................25 Worksheet 1.4: Rating Your Comfort Level ......................................................................26 Worksheet 1.5: Sketching Your Lifestyle Plan ..................................................................27 Worksheet 1.6: Estimating Income and Expenses ............................................................28 Worksheet 1.7: Setting Goals and Objectives ..................................................................29 Worksheet 1.8: Reconciling Priorities ..............................................................................30 Worksheet 1.9: Turning Goals and Objectives into Action ..............................................31 Section Two: Evaluating Your Farm Resources ....................................

FAQs

What is the purpose of this workbook for farm families?

It provides an educational framework to support farm transfer decisions by helping families develop a future vision, assess risks, and plan goals and objectives for transition.

How does the workbook address risk during farm business transfer?

It uses a structured approach called “The 5 D’s,” including a worksheet for quick risk assessment and related planning guidance.

Which farm transfer tools are included in the workbook?

The workbook covers practical legal and planning tools such as wills, trusts, gifting, estate tax updates, entity choice, buy-sell agreements, and developing a lease for the farm.

Sep 20, 2026

Uploaded by Emma Wilson