Farm Store | articles | Nationwide's Land As Your Legacy Program

Nationwide's Land As Your Legacy Program

Planning For the Future of Your Farm

Make a plan ahead of time to pass the farm down to your children.

Farming is often a family run operation. As with any business, proper business planning and estate planning ensures that future generations can carry on the job you have worked so hard to build and maintain. Do you have a transition plan in place for when it's time to hand down the farm? The time to act is now. Waiting until you are ready to retire or not having a plan in place when you pass away can put the entire farm at risk. Southern States has partnered with Nationwide Agribusiness to provide vital information on farm management best practices, risk management and other business issues relevant to farms and ranches.

Today's farmers need a plan that outlines the legal steps for transitioning the family farm to their children. As with any family business, there are children who are integral to the farm and have invested much time, energy and dedication to its success. They are counting on this farm to provide for their family for the next generation. You need to take action now to preserve your legacy. Estate planning for farmers takes into consideration the unique legal challenges faced by farm and ranch families. Agribusinesses typically have a large amount of non-liquid assets, such as land, buildings and equipment. A successful farm transition plan takes all of this into account and establishes a systematic transfer of ownership and management.

Farmers have unique needs when it comes to financial and estate planning. Farm transition planning legalizes the transfer of the family farm and its business to the next generation. This planning is essential to ensuring the longevity of the family business, but there are also other financial tools that can make a difference in the stability of your farm business and guarantee the success of your farm for future generations. In addition to estate planning, investment planning and retirement planning can make the transition to retirement a much easier and more enjoyable process.

Work with your farm agent to discuss and determine the best course of action for your business in regards to: life insurance, retirement plans, annuities and mutual funds. Also, seek advice from your tax advisor about tax laws and their impact on your retirement and estate planning. Federal tax laws are complicated and subject to change.

Special Member Savings

At Southern States®, we are proud to be one of the nation's largest farmer-owned cooperatives. Southern States has partnered with Nationwide® Agribusiness Insurance to offer Southern States Cooperative member-producers in North Carolina and Virginia special discounts on insurance. In addition to giving you exclusive insurance savings, we're also joining forces to support the cooperative that means so much to you.

Nationwide® Agribusiness is the number 1 insurer of farms in the U.S. and a leading insurer of commercial agribusiness. Go to southernstatesnwag.com to find a local agent.

Related Products

Grid View
List View
  • Potato Kennebec 1 lb

    SKU 02180211
    Perfect for culinary needs, the Kennebec Potato features a medium maturity rate with a high yield of large oblong tubers. You can tell these potatoes apart from others because of their white skin and white flesh. Their specific gravity ranges from 1.075 to 1.100. Excellent for baking, boiling, chipping and frying. Price above represents a per pound price for a 50 lb. bag.
    to see pricing & availability
  • Potato Red Pontiac 1 lb

    SKU 02180271
    Red Pontiac Potato features a late maturity and is a mid-season table stock with a high yielding return and medium specific gravity. Tubers are round to oblong with medium deep eyes, dark red skin, sometimes netted and white flesh. This seed is drought tolerant but susceptible to potato virus Y, bruising and scab. Price above represents a per pound price for a 50 lb. bag.
    to see pricing & availability
  • Potato Yukon Gold 1 lb

    SKU 02180421
    Yukon Gold Potato features a medium maturity, mid-season table stock and yellow flesh. Guaranteed to produce a high yield with a high specific gravity. Tubers are oval with shallow pink eyes and a yellowish-buff skin. Susceptible to scab but resistant to potato virus A and potato leaf roll virus. Price above represents a per pound price for a 50 lb. bag.
    to see pricing & availability
  • Potato Red Norland 1 lb

    SKU 02180291
    Excellent for boiling and frying, the Red Norland Potato 1 lb Bag features an oblong tuber, smooth and flattened shape, and a medium red color. This seed is widely accepted and has an early maturity rate. Price above represents a per pound price for a 50 lb. bag.
    to see pricing & availability
  • Purple-Top White Globe Turnip

    SKU 02020332
    The classic turnip. Purple-Top White Globe Turnips have medium-large tops, are dark green and erect. Root is 4" to 5" in diameter and globe shaped. Frost adds flavor, keeps well, and matures in 55 days.
    to see pricing & availability
  • Super S Super Trac 303 Tractor Hydraulic Fluid 5 gal

    SKU 05200131
    Super S Super Trac 303 Tractor Hydraulic Fluid is designed to lubricate the transmission, differential and final drive gears in tractors and implements. The fluid provides extreme pressure and anti-wear protection for tractor transmission, axles and hydraulic pumps and protects against rust and corrosion.
    to see pricing & availability
  • Onion Yellow 1 lb

    SKU 02180010
    Price above represents a per pound price for a 32lb bag. Onion Sets, or "baby" onions, are used to grow green and/or dry onions. Taking about 4 to 5 weeks to mature, plant these seeds in your garden in either late fall or early spring to achieve green onions. If left in for the full 90-day maturity period, you will have dry onions in late July or early August.
    to see pricing & availability
  • Blue Lake Bean 274

    SKU 02040611
    Blue Lake Bean 274 is a lush, high-yielding bush bean with 5" to 5-1/2 " long dark green pods. This particular variety matures slowly in 61 days and is fiber-free, making it a tender and flavorful addition to the garden.
    to see pricing & availability

Find Your Nearest Southern States Location

Sales & Offers