Succession Planning
Whether you’re 35 or 65, things happen. Don’t risk the future of your farm by putting off your succession plan. Get started, make a plan and put it into action.
Iowa State researchers find this is the state’s highest level of farmland owned debt-free. In 1982, Iowa’s debt-free land ownership was only 62%.
It’s not impossible for young farmers to get started in agriculture if they really want it but expect it to take hard work, investing time and care in neighbors and having a few uncomfortable conversations.
Ron Rabou spent the first 26 years of his life expecting to return to his family ranch. When his dad passed and it came time to transition the farm, negotiations weren’t as easy as he imagined. Here’s what he learned.
More than 50% of farmers intend to grow their operation, based on responses in Purdue’s February 2023 Ag Economy Barometer. If you’re thinking about scaling your farm, it’s important to first ask these questions.
“Any money saved by not paying a lawyer to draft a will and succession plan, will be outweighed by the expenses associated with a family feud.”
Estate planning is important for all families and business owners, but it is crucial for farm families.
We are more than the hours we work and the services we provide. We are people, friends, family, and community. You are important, you are loved, and you are worthy of conversation, caring, and love.
Like the final captain, the duty of closure rightly falls to the last farmer.