News
Today’s agriculture headlines and expert perspectives serving farmers, ranchers, crop consultants, livestock nutritionists and the entire U.S. ag community.
Young farmers can be the driving force in succession planning
Sometimes the best way to know where you’re going is to identify where you’ve been.
Louisiana is starting a program to honor farms, ranches and tree farms that have been in the same family for at least 100 years.
I’ve answered questions, responded to requests, proposed solutions and read a lot of great stories. It’s those stories that intrigue me most.
The agricultural community is full of aspiring farmers who dream of an opportunity to work with an experienced person.
The younger generation must be given some real-life decision making power, and the older generation must allow them to live with the consequences of those decisions.
When timing is everything, a contingency plan will keep you on track.
Attention to business matters keeps family operation focused.
Disability, life and long-term care insurance provide reassurance.
Profit centers give this Montana family more flexibility.
Use the current estate tax laws, economic situation to your advantage.
A comprehensive succession plan always includes strategies to mitigate the estate tax and minimize transfer obligations. But even the best estate plan may not address succession concerns.
If a family has not adequately planned for succession, the operation will likely go out of business, be absorbed into ever-larger farms or be converted to nonfarm uses. Using the five keys to planning success will create a succession road map.
The Farm Journal Legacy Project continues its mission to help families protect their ability to continue farming.
Whats the difference between equal and fair in succession planning?
A properly designed succession plan creates a better outcome for farm owners and their successors.
The buy-sell agreement is an unsung hero of successful farm transitions.
Farm Journal Legacy Project workshops bring key elements of a succession plan to life.
