The Farm Journal Legacy Project is a concerted effort to address the succession planning needs of America’s farm families. Since 2008, the Legacy Project has provided comprehensive succession planning information. Its mission: to cultivate multigenerational success in the agricultural community.
Don’t worry. You don’t need a will. When you die, the laws of your state will dictate who gets your assets. The probate process is
Parents: Remember the days when you lived on the edge, innovated because you had to and took risks that catapulted you into the successful position
Sure, a legal or tax issue could be putting the brakes on your succession plan, but more often it’s a communication roadblock. Maybe your spouse
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Preparing for transition requires transparency. You have to be willing to share processes, financials, relationships with professionals and, in some cases, even the “secret sauce.”