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...Using the end results associated with a current survey, the vast majority of family-owned farms need to have help if they are to succeed beyond the present senior generation of owners. That is primarily due to farm succession planning or really the lack of it. Without having help these farmers will do precisely what they [...]
Read More...Every last smart farmer understands that there’s a gigantic menace facing them. Many of them imagine that they will be protected from it or they try to transfer the accountability for doing something about this to basically everybody else. You know the threat I’m referring to, it is the results of not planning today for [...]
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