Articles Tagged with ''transition plan''
Begin the transition planning conversation by keeping it light. Ask to have an initial conversation about transition planning at some point in the future, and encourage others to speak up about their vision for a successful transition.
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Sometimes it takes a leap of faith
Developing an exit strategy when transitioning the farm to the next generation includes setting exit goals, assessing financial and mental readiness, identifying exiting owner type, selecting an exit option, understanding the value of this option and executing the exit strategy plan.
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Why power of attorney is important
For older farmers, a power of attorney can provide financial protection and peace of mind as they age.
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Farm succession: Opening the door to a difficult conversation
Farm succession planning is a difficult topic to discuss with family. However, initiating a conversation about succession is essential for the long-term sustainability and success of the farm.
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Whole-team communication is key at Salisdairy Farm
The Leenstra family has built a farm on strong relationships with their family and team.
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Why you need to build your personal wealth bubble
Building wealth beyond the farm assets provides flexibility for living expenses and transfer of wealth to non-farm heirs.
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Create an effective conversation on farm transition
Change is difficult, whether it is a change in business or transitioning the business from one generation to the next. Develop a plan and effectively communicate between parties to avoid a failed transition.
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A farm-level view: How technology is propelling Pennsylvania dairy farms forward
Three dairy producers discuss how technology, innovation and diversification have helped them on the farm.
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