Farm Succession Planning

The main element to the farm’s long lasting prosperity is most likely the ability (no definitely not the ability rather the motivation) to do what’s important for you to pass the farm from your present senior generation to the next. Even though the next generation is usually someone you are related to, it need not [...]

Many years ago a prominent estate planning attorney smiled and told me that, from his years of experience, farms and companies are arranged because, in his words, that is the way they were initially organized. I was young and inexperienced and didn’t understand what he meant when stated that one of the greatest stumbling blocks [...]

The main element to the farm’s long lasting prosperity is the ability (no definitely not the ability rather the willingness) to handle what’s important to be able to pass the farm operation from your today’s senior generation to the next. Although the next generation is typically an individual you are related to, it doesn’t have [...]

A long time ago a popular estate planning lawyer informed me that, from his numerous years of experience, farms and businesses are structured simply because, in his words, that’s how they were originally arranged. I was young and inexperienced and didn’t understand what he meant when stated that one of the most damaging stumbling blocks [...]