Do you have a succession plan in place for your farm? Most businesses have succession plans in place to help ease the transition when the current leadership steps down, but we don’t often hear about farmers making succession plans, and as we know, farms are businesses. A succession plan is a plan identifying internal talent to […]
Author: AgriLegacy
Family farms have been disappearing over the years, with the number of dairy farms dropping more than 90% since 1970. There are many benefits to having a family farm, which we will take a look at here. The Animals A love for animals is a key factor for many who become farmers. Having the patience to care […]
Multigenerational Farming offers the chance for a younger generation to reap what’s been sowed by their parents and grandparents. Although there are always new machines and techniques to make farming less labor intensive and more efficient, these new-fangled methods could also have unforeseen consequences. This article touches on two examples where the new generation of farmers […]
As farmers, we face daily struggles. Family farms looking to transition from one generation to the next, face even greater challenges. When the children of the family are young, it’s easy to put off future planning. When they enter the teenage years, their contribution is great and this is, quite possibly, the most productive time for […]
Since every farmer, and every farm, is unique, estate planning should fit the uniqueness of a situation. This is especially true when transitioning a farm to a new owner. One of the key elements of any transition is fairness – to the owner and the new owner. When the transition involves a direct family member, a common approach is to […]
Whether you have a long, multi-generational background in farming or are a newcomer to the business, successful farming consists of a multitude of components. Every farm and each farm family is different in their approach, focus, and goals. In spite of this, there are some new ideas as well as old principles that can help secure […]
As farm acreage becomes more costly pushed higher by institutional investors, managing an affordable transfer of farm assets complicates Succession Planning. For many farmers close to retirement age, decisions concerning farm transfer must try to accommodate disparate goals. For example, farm succession planning may involve accommodating career-minded heirs who want to preserve the family farm […]
When previous generations thought of a farm crisis, they were generally concerned with crop damage or major repairs to equipment and structures. These days, a crisis can also involve public relations. Even if your farm is not open to the public, you should nonetheless have a media strategy in place-here are some tips that will […]
Categories
Hired Help on the Family Farm
A family farm often involves the whole family working together – one family member might be best suited to handling tractors and machinery, another to building farm infrastructure, and others might prefer making sales or managing the farm office. Even the kids probably pitch in to make hay or feed animals. At a certain scale, […]
While we may not mean to, many modern parents tend to put gender restrictions on the household chores and tasks. It might be due to the fact that our parents raised us in this manner, or it may simply be because we expect different things from our sons and daughters. Whatever the reason, people have […]
