When estate and succession planning is in the process of taking place, it is important to avoid the most common mistakes. Let’s take a closer look at these errors so that they do not become a part of the current planning. 1) Procrastination There is absolutely no need to procrastinate when it comes time to […]
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Successful Farm Succession
In an ideal world, the family farm would be passed down from generation to generation without any issues. The reality is that family farm succession success requires careful consideration and planning for the process to work well. Successful multigenerational farm families all need to work through the following. Open lines of communication. Hold regular family meetings […]
Owning and managing a farm can be a great way to earn a living and is also a legacy that many families would like to keep within the family for generations. If you own and operate a farm that you would like to pass down to the next generation, having a succession plan in place […]
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Hiring Kids on Your Family Farm
Look around and take in the serene beauty of your farm. You and your family have put in countless hours of hard work to keep it up and running. Now, it seems that your children have begun their adult lives. They are going to college, getting married, or moving away. Of course, they may still […]
Sooner or later, every family farm faces the hurdle of transitioning to new ownership and management by the next generation. This can be a highly stressful time for both farmers and their children; nobody wants to damage the legacy of many years’ hard work and dedication, but the huge task of transitioning to a new […]
True or false: For families who know the hard work involved – and the many joys – of living on a farm, no other life is acceptable. Answer? True AND false. For the family in the first tale, the answer is false, but rings true in the second tale. Henry’s tale Henry’s parents, farmers in […]
Agriculture is one of the most dangerous professions out there. Farm injuries can be dramatic, like a tractor accident or a run-in with large livestock; they can also be subtle, like getting a muscle or joint strain from overuse, or being ill for weeks with Lyme disease from a tick bite. No matter the cause, […]
The family farm. It’s a legacy worth preserving. After all, it’s been preserved for you. Now it’s your turn. If you’ve never thought of your life on the farm as a legacy, maybe it’s time you did. Now, just why is it so important? One — It’s important for you and your family It all started with […]
Little girls who grow up on the farm have little eyes and little ears. They see and hear what adults discuss and observe the actions taken. This was the case with Wayne’s daughter, Kate. Wayne was the middle child in his family. He had an older sister, Johanna, and a younger sister, Dawn. As the […]
Communication is the key to unlock all sorts of life’s mysteries. Babies learn to communicate so they can tell us what they think. Friends communicate with each other for enjoyment. Teachers communicate knowledge to their students. Why do farmers communicate together? They communicate to help each other out, to learn, and because it is vital […]
