Family farm succession linked to farm size, age, and succession planning inconsistencies.
Family farms, especially large and specialized ones, are more likely to be passed down within the family and have a successor chosen. The number of family members and the farm operator's experience also play a role in succession. Succession probabilities increase with age but then decrease. As farm holders age, succession plans tend to be delayed. Decisions on family succession, choosing a successor, and timing of succession are all interconnected.