MORGAN, Minn. — One of the hardest parts about estate and succession planning for farm families is simply starting the conversation surrounding it. At least that’s what Erin Herbold-Swalwell thinks.
“Maybe we've gone and we've gotten education on trusts and wills and the legal part of all of this, but what we haven't done is we haven't learned to talk with each other, and so I think the biggest thing that you can do is listen to your family members,” she said.
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Herbold-Swalwell is the associate general counsel in the legal department at Farm Bureau Financial Services. Within her role there, she works with farm families on estate and succession planning. Her efforts are primarily focused in the states of Minnesota and Iowa. She presented on farm transition planning at a session called "Changing Hands" at Minnesota Farmfest on Aug. 4, 2026. The presentation focused on practical tools, estate insights and strategies to protect a farm legacy.
Herbold-Swalwell advises young people who are coming into the family farming operation and want a chance to be the successor on the farm to come in ready with a business plan. This will help the senior generation to understand what it is the young person wants to do on the farm and what they bring to the table.
Herbold-Swalwell also advises young people to make sure their ideas and wants are known to the older generation.
“Also tell them what you want from them because sometimes they don't know, right? There's that generation gap, and they don't know,” Herbold-Swalwell said.
It’s a crucial time for succession planning on the farm, as Herbold-Swalwell shared that 70% of the country’s farm land will be transferred or transitioned in some way within the next two decades. On top of that staggering statistic, Herbold-Swalwell shared another statistic that could be scary for some, if they do not take the proper steps in succession planning on the farm.
“If you don't plan right, the statistics, how as much as we can measure them, show that only 30% of those farms successfully transition to that next generation, whether that's through family infighting that they don't pass along, or there just isn't a plan, and so in the absence of a plan, things fail,” she said.
Ultimately, Herbold-Swalwell advises families to take it step by step. By taking this approach, it helps the family not get overwhelmed when they first begin to discuss the topic. She also recommends that farm families do something every year in the process of estate planning.
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“What's really rewarding for me in working with farm families in this area is just seeing the reward that comes back to them when they do the planning. They feel more relaxed. They feel like you know I'm seeing some of the fruits of my labor transitioning on to that next generation during my life, and that can be a major reward to some of these farm families,” she said.
Facts Only
* Erin Herbold-Swalwell is the associate general counsel at Farm Bureau Financial Services.
* Herbold-Swalwell works with farm families on estate and succession planning primarily in Minnesota and Iowa.
* She presented on farm transition planning at "Changing Hands" at Minnesota Farmfest on August 4, 2026.
* Herbold-Swalwell advises young inheritors to develop a business plan for the farm operation.
* She advises young people to communicate their ideas and wants to older generations.
* A generation gap exists regarding succession planning knowledge.
* Only 30% of farms successfully transition to the next generation when planning is absent or due to infighting.
* Farm families are advised to take a step-by-step approach to avoid feeling overwhelmed.
* Herbold-Swalwell reports that farm families feel more relaxed and rewarded after completing estate planning.
Executive Summary
Estate and succession planning for farm families often begins with communication rather than legal documentation. Experts suggest that the most critical initial step is developing open dialogue among family members, as simply possessing legal tools like wills and trusts is insufficient without mutual understanding. Erin Herbold-Swalwell advises listeners to listen to their family members to bridge the generation gap and ensure younger generations’ desires are understood by the older generation, and vice versa.
The necessity for proactive planning is underscored by demographic shifts; 70% of U.S. farmland is projected to transfer or transition within the next two decades. Furthermore, a lack of proper succession planning leads to poor outcomes, with only 30% of farms successfully transitioning to the next generation due to factors like infighting or absence of a plan.
Herbold-Swalwell recommends a phased approach for families, suggesting they take steps incrementally rather than being overwhelmed by the topic initially. She notes that successful planning provides significant emotional rewards for families, leading to increased relaxation and a sense of legacy passing successfully to the next generation.
Full Take
The narrative centers on the tension between formal legal structures and interpersonal dynamics in family succession, suggesting that technical knowledge alone is inadequate for successful transition. The statistic regarding the 30% success rate highlights a systemic failure rooted not just in ignorance of legal forms, but in relational breakdown—infighting and lack of shared vision. This implies that the "how-to" of estate planning must be secondary to establishing empathetic communication channels among family members before formal instruments are introduced.
The advice to start slowly and incorporate annual check-ins suggests a process management perspective: treating succession not as a single legal event but as an ongoing relational evolution. The reward derived by the advisor stems from facilitating this emotional and practical alignment, indicating that success is measured by restored family cohesion alongside asset transfer. This points to a pattern where fear of failure (statistical risk) necessitates a soft, relationship-focused methodology, challenging the assumption that purely rational, legalistic approaches will yield successful results in highly personal contexts.
What assumptions are being made about the nature of farm legacy? The piece implicitly frames the success of succession as dependent on emotional reconciliation rather than purely fiduciary duty. The missing element is the external context of economic pressures or generational differences beyond communication; one might ask what external forces—market shifts, labor changes—are factored into this timeline and planning process. How does the focus on internal harmony interact with the external reality of agricultural economics when structuring these plans? What are the overlooked costs associated with imposing a collaborative methodology onto potentially entrenched or resistant family structures?