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Farm Transfer Planning

About Us

It is never too early to start thinking about planning for the future of your family and farm. Without thorough financial planning you may pay more taxes than necessary, your family may be unable to keep the farm if something happens to you. These situations may seem far off for your farm, but the only way to prevent them from happening is to start planning as soon as possible.

Maine Farmland Trust suggests the following resources, which will help you with your farm transfer, and how to get started with this planning process.

• American Farmland Trust Publications

You can purchase Your Land is Your Legacy: A Guide to Planning for the Future of Your Farm, by Jeremiah Cosgrove and Julia Freedgood and published by the American Farmland Trust. This publication reviews tax issues, conservation options and estate planning. One take-away message from it: “It’s never too early to start planning” (http://www.farmlandinfo.org/your-land-is-your-legacy).

• Farm Credit East

Along with other financial services, Farm Credit East provides assistance with estate planning (https://www.farmcrediteast.com/).

• Maine Farm Bureau

The Maine Farm Bureau provides estate planning seminars to members. You can view other membership benefits at: http://www.mainefarmbureau.com/membership.

• Planning for a Secure Retirement—Purdue Extension

Includes modules to walk you through the steps of planning for your retirement, including financial security, housing and health care. Site also includes a list of useful links for retirement planning (https://ag.purdue.edu/programs/areyouprepared/secureretirement/Pages/default.aspx).

• Retirement Estimator from Purdue University

Helps retiring farmers estimate the amount of money they need to live comfortably in retirement.  A useful planning resource (http://www.ces.purdue.edu/farmretirement)

•  Land For Good’s Toolbox for Farm Transfer Planning


About Maine Farmlink

Because the majority of Maine farmers are now of retirement age, getting new farmers onto the land is imperative. Many farmers who wish to retire do not have anyone to take over the farm. Likewise, many people who want to farm do not have the family or resources they need to get started. FarmLink is a collaborative endeavor connecting next generation farmers to the land and resources they need to keep Maine’s farms viable now and into the future. FarmLink works with each party to fully understand their interests and needs. This personal contact and customized support, combined with the assistance of program partners, has helped Maine FarmLink become a successful and effective program.

For more information, call Maine FarmLink at:
(207) 338-6575 or email: info@mainefarmlink.org

Maine Farmland Trust
97 Main Street
Belfast, Maine 04915
Phone: 207-338-6575
Fax: 207-338-6024