Times have changed and it’s less likely these days that a farm will automatically be inherited by a son. With many farms being managed as businesses, succession planning is more comprehensive and needs to deal with matters other than a simple Will. These include the retirement plans of the older generation, managing complex family dynamics…
Working in a family agricultural business comes with a multitude of challenges and, for many farmers, the primary focus for the business is on achieving viable increases in production levels to maintain a sustainable business. But you should also consider how changes to your family could affect your business in the future and, in particular,…
Running an agricultural business goes hand in hand with fluctuations in production inputs, income and cash flow, little control over market prices and the need to cover expenses in low income years. Many agricultural business owners feel like they are at the mercy of others and the environment, and are unable to make the most…