Succession Planning
Will and Laura run Willow & Co., a well-oiled farming machine squeezing every drop of profit from a shrinking commodity barrel. Pennies and nickels are precious in an anemic market, and the duo adheres to a strict regimen of efficiency, diversification and adjustment. The overall machine is geared for present gain, but the parts are deeply rooted to the past.
Friends team up to drive a vertically integrated family business.
Friends team up to drive a vertically integrated family business.
You’ve thought about who will run your farm in the future. You may have even identified the next leader. But have you shared those plans and dreams with your team?
Your farm’s future path might be winding and complex but starting the process can be simple.
Father-son duos take charge of their transition timelines.
Laws, circumstances and assets change over time. Do your estate planning documents reflect your current goals and wishes?
How can you prepare your successor and step down from being the manager? Danny Klinefelter, professor and Extension economist at Texas A&M, says families should follow these steps.
The Farm Journal Legacy Project Advisory Team shares tactical steps in how you can craft a successful plan for your farm.