Succession Planning
From understanding breakeven price per bushel to finding a mentor who persevered through the 1980s, Alan Hoskins with American Farm Mortgage and Financial Service shares pointers for a long, financially sound career.
From switching to 100% strip-till this past fall to learning to build seed scripts and planting her first crop as a full-time farmer this spring, Sarah Tweeten is making her mark on her family’s Iowa operation.
How are you showing up on the farm? Do your actions meet up with your goals? Rena Striegel, a farm succession planning consultant, encourages the next generation of on-farm leaders to do some self-reflection.
Focusing on marketing and margins will help farming’s next generation protect against the ”unknown unknowns,” says Alan Brugler, a market analyst and adviser.
Formulating your farm’s succession plan is likely not a straight line. Polly Dobbs, an Indiana attorney who is part of a seven-generation farm family, says it’s important to stay focused on your end goals.
The clock is ticking — and the current estate-tax exemption is set to plummet at the end of 2025. The smaller exemption coupled with inflation and land values likely means increased assets and estate-tax rates.
Trust In Beef’s Sustainable Ranchers Tour recently spotlighted second-generation rancher Meredith Ellis, taking producers behind the ranch-gate for a tour of award-winning G Bar C Ranch in North Texas
2024 ESAP Winner G Bar C Ranch is opening the ranch gate to help others build resilience and ensure their Texas cattle legacy.
Farm attorney Matt Folz shares the pros and cons of creating a charitable remainder trust.
What would you tell someone launching their farming career today? A panel of Illinois farmers recently shared some of their successes and setbacks along with a handful of recommendations for young or new farmers.