When considering transitioning the family farm to a member (or members) of the next generation, all parties should carefully evaluate the financial health of the farm. Some of the questions may be sensitive, but both the parent and child will need to face them openly and honestly in order to ensure the current and future […]
Managing your family farm is a rewarding job, but just like every other business, it also brings its share of conflict. Ongoing tensions can destroy workers’ morale and – through lower productivity – can hurt your chances of maintaining financial sustainability. There are two key steps to avoiding conflict on the farm: Anticipate the Conflict […]
Owning a farm is more than a livelihood; it’s a legacy deeply rooted in generations of hard work, tradition, and a profound connection to the land. However, amidst the idyllic landscapes and picturesque barns lies a daunting challenge that many farm families must face: the complexities of passing down the farm to the next generation. […]
The Fourth of July is a time for Americans to celebrate the spirit of independence and the birth of the nation. This national holiday is marked by fireworks, parades, and gatherings, and for many farming families, it also serves as a reminder of their enduring legacy and the importance of keeping the farm in the […]
Keeping the farm in the family in the family is more than just a nice tradition. It is a way to provide security for yourself in retirement, establish your own legacy, and to help your posterity plan for their future. Farming presents many challenges no matter what you grow or where you grow it. Uncertainties in […]
There are a lot of farmers across the country worried about passing their land down to future generations. Farming is a difficult business to have success in. Having a proper succession planning strategy is one of the most important aspects of farming. Almost every farmer wants to give his or her land to the next generation. Farming […]
Are you considering all of the variables that goes into farm planning? Continue reading and you can make sure you are! There are many details that go into planning and creating a farm. Finding the right amount of land, finding a proper amount of equipment for that land and making sure there is an appropriate amount […]
Often one of the most unpleasant tasks of farming is planning, but farm planning may be the single most important tool at a farmer’s disposal. Careful planning can minimize costly mistakes, eliminate redundancies and create a clear path of profitable action. As Tamara Benjamin, a program leader at Purdue University points out one effective method of planning is […]
Owning a family farm is a dream for many people. One of the most difficult aspects of farming is passing down the farm to future generations. As tax and business laws continue to change, it is getting difficult to develop succession planning with family farming. Successful farming plans require a lot of research and work on the front […]
As the dawn of a new year approaches, farmers around the world gear up for more than just seasonal changes. The transition from one year to the next is a time to reflect, set goals, and plan for the future. For those involved in family farming, the new year is an opportune moment to chart […]
