March 8, 2010
Most farmers are of the opinion that one or more of their kids will succeed them owning and managing their farm. But what it it turns out that none of them are interested in running the place?
You have two options.
#1, you can keep working forever (ok you may be able to find someone to rent it) until you simply wear out and die. At that point your widow can put it up for sale.
#2, you negotiate the sale of your place in advance, getting the best price and terms possible, so that your family’s financial future position is secured and known well in advance.
For most of those who choose Option #1 getting the maximum value for your lifetime of hard work is a pipe dream. Read the rest of this entry »
Technorati Tags: buy sell, buy sell life insurance, buy-sell agreement, farm buy-sell agreement, farm insurance agents
Posted in Family Business Succession, Farm Estate Planning, Farm Succession Planning 
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March 5, 2010
In the 21st Century successful farmers will use every possible technique and strategy to succeed. For some that means harnessing the power of the Internet.
Having a professional looking interactive web site is dead simple and virtually free. Expecting folks to find it is another matter, one requiring Internet marketing strategies. When it comes to fly fishing, if you want to be successful you have to fish where the fish are.
When it comes to Internet marketing – success is all about doing the research. Who exactly do you want to reach? What precisely must they be looking for when the find your web site?
And what specifically do you want them to do? Read the rest of this entry »
Technorati Tags: FISHING, fly fishing, Internet marketing, small business internet marketing
Posted in Succession Planning No Comments »
March 4, 2010
A bypass trust in estate planning is a document that allows married couples two tax exemptions on the estate.
Find out what a bypass trust is from an estate planning and probate lawyer in this free video on estate law.
Expert: Brad Wiewel
Duration : 0:2:6
Read the rest of this entry »
Technorati Tags: by pass trust, estate, farm by pass trust, law, planning, probate, trust
Posted in Estate Planning, Farm Estate Planning 1 Comment »
March 4, 2010
Unless you’ve been living in a cave for the last few years, you know that business coaches are everywhere.
If you think a small business coach can help you and your family, how would you choose the right one for you?
All things being equal you’d probably choose a person you like, someone you resonate with and who seems genuine in their approach.
But all things are not equal.
How is it possible that small business coaches who look like they know the same stuff, have participated in the same business coach training, and seem to offer the same services be so far apart in other ways? Read the rest of this entry »
Technorati Tags: business coach, farm business coach, small business coaches
Posted in Farm Estate Planning, Farm Succession Planning, Farm Transition, Farming Successfully, Strategic Planning for Business No Comments »
March 3, 2010
At the Top Producer Young Farmers Program, Kevin Spafford, Farm Journal succession planning expert, a breakout session entitled How to Talk to Dad with Ben Hudye, of Hudye Farms.
Listen to this segment: With clear objectives the result is success.
Duration : 0:1:26
Read the rest of this entry »
Technorati Tags: farm, Farmers, father, Journal, Legacy, Passing Down the Farm, planning, Producer, Program, Project, son, succession, Top, transition, Young
Posted in Farm Estate Planning, Farm Succession Planning, Farm Transition No Comments »
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