Key Takeaways
- Oaken partners with Sower | Legacy Farmland Fund to offer farmland estate and transition planning services.
- Over $500 billion in U.S. farmland assets are expected to transition over the next decade.
- The partnership integrates Sower’s 721 Exchange solution into Oaken’s digital farmland management platform.
- Oaken’s platform now connects farmers and landowners to trusted advisors for streamlined asset management and transition.
- The partnership aims to simplify estate planning while preserving family farm legacies.
Strategic Partnership Announcement
Oaken, an agrifintech platform founded by Purdue DIAL Ventures, announced an expansion of its services through a strategic partnership with Sower | Legacy Farmland Fund. This collaboration introduces farmland estate and transition planning to Oaken’s platform, offering farmers and landowners enhanced tools for managing and transitioning farmland assets.
The Need for Farmland Transition Planning
The United States is on the brink of significant farmland turnover, with an estimated $500 billion in farmland assets expected to change hands within the next decade. As many farmers and landowners approach retirement, the need for effective estate planning solutions has grown.
These solutions aim to address key challenges, including:
- Structuring assets for tax-efficient transitions.
- Minimizing family conflicts during inheritance.
- Maximizing asset value while retaining liquidity.
New Services on the Oaken Platform
The partnership adds Sower’s 721 Exchange solution to Oaken’s digital farmland management platform. This solution allows users to convert farmland assets into flexible shares, enabling a smoother transition process.
Oaken’s platform now offers:
- Management of existing farmland assets: Users can maintain a comprehensive view of their land, its value, and associated documents.
- Access to trusted advisors: Farmers and landowners can connect with professionals for expert guidance on estate and transition planning.
- Integrated documentation: A single interface consolidates all relevant information, streamlining the estate planning process.
Leadership Perspectives
Shashi Raghunandan, CEO of Oaken, commented on the partnership: “Oaken’s mission is to make farmland management and financing as straightforward as managing stocks. Our initial services focused on farmland management for farmers and farmland managers. This partnership with Sower brings us closer to realizing our vision by making it easier for our customers to manage their most valuable asset, farmland. We look forward to working with more partners in the future to add to this portfolio of service offerings and bringing our vision to fruition.”
Eric Mueller, Managing Partner of Sower, highlighted the importance of the 721 Exchange solution: “The 721 Exchange is a transformational financial solution from Sower. As farmland transition is expected to continue its momentum over the coming decades, Sower is committed to its mission of preserving family farm legacies, keeping farmland in production, and providing a simple way to convert a hard asset like farmland into flexible shares. Our partnership with Oaken will ensure our products are delivered in a seamless digital way and reach more customers effectively.”
Oaken Latest News
Oaken Launches Landpartner CRM Application to Aid Farmers in Relationship Management (2024/01/29)
Oaken has launched a cloud-based application called Landpartner CRM, designed to help farmers manage their interactions with land partners. The application streamlines processes like contact, contract, and payments, enhancing efficiency. The application, supported by Purdue University’s DIAL Ventures, aims to improve productivity and management practices in the farming sector. The platform was developed with input from the farming community, and has significantly reduced time spent on tracking events, payments, and contracts.
