Each individual smart farmer recognizes there’s a gigantic danger facing them. Some make-believe that they will be safe from it or they try and transfer the duty for doing anything about it to more or less everyone else. You already know the threat I’m referring to, it is the consequence of not planning now for [...]
Read More...Professional farmers recognize that management succession planning, not only the estate planning aspect, of moving their farm to the next generation is much more important today than previously. Thankfully there are proven strategies the senior generation managers and their key employees are able to use to produce an ongoing management knowledge transfer to their successors. [...]
Read More...The key for your farm’s long-term success is ability (no not the ability but the motivation) to do what is actually necessary for you to pass your farm operation from your today’s senior generation to the next. And while the successor is normally an individual you are related to, it needn’t be. It might be [...]
Read More...Years ago a famous estate planning attorney at law informed me that, from his many years of experience, farms and companies are structured because, in his words, that’s the way they were originally arranged. I was young and inexperienced and didn’t fully grasp what he meant when announced one of the greatest stumbling blocks for [...]
Read More...Concerning farm succession planning, every single guru marketing farm succession and farm estate planning expertise seems to have his / her favorite approach or plan designed to motivate you to get rolling. For a farm succession process to gather any kind of footing, push that will move it toward a positive result, it 1st has [...]
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