Succession planning is crucial for farming families, as it safeguards both the family’s well-being and the future of the farm. Ideally, this planning should start early, setting the stage for a seamless transition of management and ownership. But let’s be honest—the daily grind of running a farm can push these plans to the back burner.…
Over the past 40 years, I’ve been working with rural families as they pass their farming business from one generation to the next. While there have always been some challenges, these days succession has become considerably more complicated mainly due to changing family dynamics, new technology, advancing farming practices and the need for what can…
Succession planning is critical for protecting the needs of your family and the farming business. If something goes wrong, you need to be able to make decisions that affect your future quickly. In an ideal world, the earlier you start succession planning for your family farming business, the better. In reality, the day-to-day operations of…
One thing is certain… circumstances will change. Running a rural or agricultural business often means that family, business and personal matters are closely intertwined, and as the business transitions from one generation to the next, change is inevitable. Things won’t always go smoothly, and change can increase the likelihood of conflict, but don’t let it…