Succession Planning
Mediators share tips to make discussions about transition planning easier.
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Easy ways to get your wills done
April is wills month, and the perfect time to get farm and family affairs in order.
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Own your future: Answers to some of the toughest succession planning questions
A candid discussion about planning for and going through farm transitions by a panel at a recent conference.
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How to get your non-farm siblings onboard with your farm vision
Financial transparency and open discussion can help keep families and farms together.
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The 5 C’s of generational continuity of the dairy
Cash flow, management and ownership contingency plans, compensation, communication and conflict are five factors that can make or break generational continuity.
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Success in succession planning – legal and mediation
Legal and mediation can pertain to any number of different facets of succession planning, including estate plans, trusts and wills, updating limited liability corporations (LLCs) and setting up marital agreements.
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Before the in-laws become the outlaws
Giving a farm successor opportunities to make big decisions prior to choosing a spouse, avoiding a “sister wives” scenario, teaching them to live within their means, setting a succession plan before a successor’s spouse is involved, and practicing what you preach will reduce conflict between parents and new sons- or daughters-in-law along and between the farm’s successor and non-farming siblings.
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Success in succession planning — financial analysis
A business transition comes with significant financial implications. Building a strong succession plan takes time and investment.
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