Hope isn’t a succession plan
When you pass away, what happens to the farm? If you simply think “the kids” will figure it out with ease after you pass, you’re dead wrong.
USDA Census reports indicate that about 70% of family farms will change hands within the next 20 years, but of those, only 30% will remain in the family. The trend is alarming and provides a catalyst for people like Mark Modzeleski, financial advisor, financial planner and president at Legacy Wealth Advisors of NY in Syracuse, to speak on the topic.
He presented “Farm Transition and Estate Planning” at the recent 2026 Summer Crop Summit hosted by New York Corn & Soybean Growers Association at Rodman Lott & Son Farms in Seneca Falls.
“No one wants this conversation because it’s hard,” Modzeleski said.
It’s easy to think that the family has decades before making plans, but that’s not always how it works. Farming is inherently dangerous and even on the most safety-conscious farms, sometimes acute health events snatch away loved ones before their time seems near.
Modzeleski shared a sobering account of a farmer who had kissed his wife on the way out the door but never saw her again as a farm accident took his life before he could return for lunch.
“Things can happen fast,” Modzeleski said. “He was in his forties. It doesn’t always happen to the oldest generation. People think it will be okay because ‘We’ve always worked it out’ but hope isn’t a succession plan.”
He shared that often, people start in the middle of the plan with an idea that they need a trust to protect the farm. Modzeleski, who has been in the business 20 years, said that the family in the story he related did work out a farm transition, but it took many months despite having a plan.
He encouraged farmers to develop a vision of where they want their farm to go.
“Imagine getting in the car to go on vacation and asking, ‘Where do you want to go?’” he said. “People say, ‘We’ll survive and decide then if something happens.’ If you don’t have a vision, how will you have one when you’re under stress?”
He urged farm owners to decide who they want to take over the farm when they’re no longer able to lead it, whether by retirement, disability or death. Modzeleski added that the farm owners should look at who has the potential to lead. It’s not always the firstborn – or even one of the owner’s children.
As for farm continuity, farmers need to look at who will do what when the “usual” person to do a task is not there. Cross-training employees is also a smart move for effective farm management. This involves letting essential people know about integral parts of the business such as finances, operating key equipment and working with vendors.
“If your son is 55 and ‘not ready,’ will he ever be?” Modzeleski posed. “Passing tools is easy. Passing responsibility isn’t. Most folks don’t think about passing responsibility. You will leave a legacy whether you plan it or not. Everyone wants to leave if for the next generation.”
He believes that leaving a positive legacy starts with a conversation.
“Set aside time to talk with no agenda, just open ears,” Modzeleski said. “Include the people who matter most to your farm’s future. Use these topics as a guide, not a test. Just begin. Revisit and adjust as needed. Keep building your family’s roadmap. The best time to start was yesterday. The second-best time is today.”
He advised that conversations about transition and legacy aren’t a sprint, but a marathon. Often, it’s best to sit down with a knowledgeable and qualified third party who has no vested interest in the farm to keep the conversation going and provide perspective and insights that are hard for the family to see. This type of input can help farm families make better planning decisions.
“Dedicate the time,” he said. “Just keep going. Find the positivity. Eventually, you’ll get there.”
Some farmers assume dividing the farm equally among all their children provides a simple shortcut to transition planning; however, Modzeleski said that “fair isn’t always equal.”
Suppose two children left the farm and invested no sweat equity, but two children stayed on the farm and accepted subpar wages for copious hours of work – but they all still received an equal share of the farm. And how can the children who want to farm divide the assets necessary for the farm to operate such as equipment, stock and land?
“People should get compensated for what they’ve done and will do if they’re there in the future,” Modzeleski said. “Ownership isn’t always leadership. Figure out what you want your legacy to do.”
