Farm Succession

Is it time for you to start scaling back your farming operation?

Estate Plan Edge: Technicalities matter, but focus more of your attention on the next generation.

Preserving Family Farms Act allows property to be appraised as farmland rather than development land when determining estate taxes.

Diversification and mentorship from an older generation help these young farmers succeed in a wet 2019.

In transition, a buy-sell agreement process needs to be established upfront and periodically revised.

Commentary: What is it to manage the farm you no longer live on, from 600 miles away? Cynthia Ryan shares her experience as an off-farm heir.

One piece of advice that is suggested is for new graduates to work away from the business for a couple of years.

Estate Plan Edge: Estate planning can be a win-win when it includes special asset protection trusts, gifts and lifetime income from property ownership.

It’s not easy to get into production agriculture, nor is it easy to transition out.

Tough Decisions: When communication or negotiations break down, think about the five emotional 'blockages.'