Raw and Real: Montana Ranch Families Share Succession Stories

It’s emotional. It’s financial. It’s pivotal. And it often gets put on the back burner. Data from the U.S. Department of Agriculture National Agricultural Statistics Service reports that family-owned farms and ranches account for 97% of the 2.1 million total in the U.S. Yet only 30% of these survive into the second generation. Only 12% are still operating by the third.

What’s more, some 69% of the family farms surveyed expected ownership to continue into the next generation, but only 23% had a plan. Where is the disconnect? Reluctance to get into hard conversations, uncertainty abou...