Succession Planning
A new country song is hitting home for farm families, showing what it’s like to keep a farm in the family through four generations.
One mile from home, our world shattered. We survived the wreckage, but it made one thing clear: Stop pushing pause and finalize your farm succession plan today. Your legacy depends on it.
Consolidation risk is not limited to smaller operations. Succession gaps, management transitions and strategic exits are driving consolidation regardless of size.
From cyberattacks to succession, top producers share how they turned high-stakes crises into strategic growth. Discover how balancing data with values and peer relationships can transform agricultural risk.
Some ag lenders are helping young producers and beginning farmers develop stronger financial skills so they can make more informed business decisions on the farm and reduce risk.
No one wants their family business to look like the Dutton family’s in Yellowstone. Todd Wiley’s innovative succession planning instrument is designed to avoid unnecessary drama and position his four children for success in the family pork operation.
Ancient Greek philosophers viewed resources as abundant, not scarce, so economic action was judged not by the accumulation of wealth but by whether it enabled and served a praiseworthy end.
People often think they can figure out their estate plan later – when they are older, richer, sicker, free from debt and the list goes on. Expert Polly Dobbs says you should have a plan in place that fits today’s circumstances.
Taxes shouldn’t drive a farm’s succession and estate plan, says Polly Dobbs, an estate planning and wealth transfer specialist. She shares what farmers need to know about changes made in the One Big Beautiful Bill.
While 69% of farmers expect to transfer their operation to the next generation of family members, too many are misplacing their time and efforts, according to The Williams Group. The company offers 5 recommendations that can help farmers and other business owners course correct.
Freshly graduated from Western Illinois University, Paige Pence is getting an entirely new learning experience this summer as she gets her feet wet farming the 4,500 acres originally pieced together by her first-generation farmer parents.
Transitions of any kind are hard — but farmland might be one of the toughest, says Steve Bohr of Farm Financial Strategies.
Caleb Ragland is hopeful his boys will have the opportunity to be the 10th generation to carry on the family’s farming roots, but he’s concerned the fallout from trade disruptions, high input costs and low commodity prices could deliver a death blow to that dream.
Strong succession is driven by leaders who are willing to plan boldly, act decisively and invest in their next generation. Your family and your operation are counting on you.
Born and raised in Oklahoma, Brittany Hukill wasn’t planning to take over the family farm so soon. But that became her reality after losing her father when she was a teenager and then her grandpa when she was in college.
At the age of 18, Dalton Dilldine faced the circumstances of his father’s passing: he could continue the family’s farm, start his own entity or go to college. The type of guy who would choose “all of the above” to a multiple choice question, he did all three.
After a surprisingly smooth succession, fifth-generation Clearwater Farms is successfully building a new side business to increase profitability.
Among the secretary’s first public appearances since being confirmed last week, the fireside chat on Tuesday, Feb. 18, will cover key topics driving the future of agriculture.
Josh Payne was able to join his grandpa farming full time, but knew his sister might want to follow suit. He had two options: get big or get weird.
Until your needs for the next chapter of transition or retirement are put on paper, there is likely fear about the unknown. Thankfully, it’s easy to navigate with these steps.
With leadership roles on an international stage, Pam Johnson kept her roots close and brought back enriched experiences and new ideas to her Iowa farm.
There are challenges that come with the process, but also hidden opportunities that can help the rising generation build for the future.
Rebecca Sip shares about the challenges she’s faced navigating a gradual generational transition of their family farm, the importance of continual learning and the role of humility each and every day.
With the unknown of if and when Congress will act, guidance is available based on estate size.
As you do your tax planning at year-end, be sure to review any assets you have held for at least a year to determine if your taxable income remains in the 15% tax bracket.
Now is the time to evaluate your land goals, decide what physical assets will bring value to your business and invest in what you personally value to live a purpose-driven life.
Sam Beveridge joins the Ag Inspo podcast to share how your best contribution to the farm may be untraditional.