Boundaries means more than the fence line separating your property from your neighbor’s property. In psychological terms, a boundary is anything that marks a limit. The limit can refer to whether someone is treating you well or treating you abusively. In farm families, boundaries need to be set to determine good behavior and behavior that […]
Family farms can be filled with a lot of tension. Often, multiple relatives are working toward the goal of keeping the farm in the family. However, conflict may arise when they want to do so in different ways. It takes some give and take, along with compromise and negotiation. One person cannot win an argument. […]
Many people use different succession tools when planning for the future, but not everyone fully understands the ins and outs of financial planning. This means that some of the documents used may not work how one thinks. For example, misconceptions exist about revocable living trusts. When keeping the farm in the family, ensure that you […]
Valentine’s Day is here and that means that love is in the air… And as you celebrate the hearts that make yours skip a beat, don’t forget to celebrate the farm – that living, breathing, heart-beating thing that pulls you all together and gives you all a shared purpose that is so much bigger than […]
You’ve worked hard to keep your farm alive. You’re proud of it. It’s like a child to you. And, like any child, you think about its future. You want what’s best for it, and you want to ensure it will be in safe hands after you’re gone. This farm is your legacy. It is years […]
If you’re somewhere in the process of a farm transition, then you know how complicated it can be. There are many people involved. There’s a lot of paperwork to deal with. And the money aspect can be a snarl of a numbers threatening to explode your brain. AgriLegacy is here to assist you through the […]
Everyone loves the idea of marrying a hardworking farm guy or gal and settling down to raise a family. Unfortunately, the reality is far from what you’ll find in cliché romance movies. To get an idea of what life will really be like, here are six things you need to know before marrying into the farm. […]
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Planning Your Farm Legacy
When asked, most farmers would say they’d like to pass on their farm to their kids once they’re ready to call it a day. Unfortunately, the likelihood of this actually happening is depressingly slim. A big part of this is simply due to the fact farmers neglect to actually plan for passing on their legacy […]
A family farm takes a lot of people to run it. The more generations the farm has been in the family, the larger and more complex operations eventually become. But what about when it’s time to make important decisions about the farm? Who should make those decisions and who should be allowed to offer their […]
The time comes when every farmer must consider handing over the keys to the tractor, but taking certain steps now can lead to better decision-making and far less conflict when it comes to succession planning. According to the U.S. Department of Agriculture (USDA), during the next five years, about 10 percent of all farmland will […]
