Successfully transferring a farm business from one generation to the next can be challenging and rewarding. Succession planning requires not only the transfer of property and assets but also management and leadership, according to attorney Troy Schneider.

The old limestone barn had likely stood on the Kastenschmidt family farm for decades before Doug’s great-grandfather purchased the farm in 1953. The outside appearance has not changed much over the years, but inside it has gone from stanchions to a parlor to robotics.

The current farm financial climate in Kansas has a lot of the same characteristics of the 1980s farm crisis. Then, as now, net farm income leading up to the farm crisis was near record levels but dropped very quickly.

Life is interesting. It’s been almost 34 years since my dad passed away, and I can remember things he said many years before while I’m forgetting what I went into the next room for five minutes ago. Someone told me that passing through a doorway causes the short-term memory to reset. I hope that’s my only problem.