Successful farmers know that passing down the farm, succession planning, in other words is critical to their farm’s long term success.
That’s because it is a process that unlocks cash from the farm for the departing senior generation of owners and creates an environment where the next generation can begin taking over.
Some of you may feel [...]

Posted in Family Business Succession, Farm Succession Planning, Planning for Succession No Comments »

Multiple Scenarios Complicate Estate Tax Advice,
by Marcia Zarley Taylor DTN Executive Editor
In her very compelling article Ms Taylor describes the frustration being felt by family business owners (farmers like you in other words) and their professional advisors as they wait for the congress to make up its mind about their future taxation policy.
I hope [...]

Posted in Estate Planning, Farm Estate Planning 1 Comment »

Taking Emotions Out of Estate Planning
by Lisa Munniksma, Successful Farming magazine Contributing Editor
When most folks hear the term “estate planning” they immediately picture lawyer’s offices, deadly boring discussions, and mind numbing documents being carefully explained by earnest professionals looking out for their family’s long term interests.
What they really should be thinking about are the [...]

Posted in Estate Planning, Farm Transition, Farming Successfully No Comments »

http://www.passingdownthefarm.com/farm-succession-system If passing down the farm is important to you, if you want to be in 100% control of the process, and if you believe that you are the one who will be held accountable for the results – as defined by the success of your farm’s transition, it’s time for you to take [...]

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Recently I ran into an old client sitting proudly in his new red pickup.
He was from the old days when I was pretty new at helping farmers redesign their businesses for the future.
I had not seen him for years.
He is a little older than me still hanging around the farm, although he has pretty much [...]

Posted in Farm Estate Planning 2 Comments »