It is time to stop guessing what everyone thinks, feels, wants and needs. Explore what stories your grandparents, parents and siblings are telling themselves about the future and transition of wealth on your farm. Ask Grandpa or Mom, “I’m just curious, what is the story you are telling yourself? Is this a scarcity mindset issue? How much is enough? Would you ask for the help of a financial planner to give you more financial security and certainty for your income streams as you age in place on this farm?”

When it comes to farm versus household accounts, separate checking, savings and other accounts can safeguard business funds from personal ones, allow farms to monitor farm spending more easily and assist with recordkeeping of the farm’s finances.

Legacy is often thought of as a tradition passed down from one generation to the next. While tradition certainly plays a part, legacy goes beyond that. It’s about the mark you leave on the world, the values you uphold and the contributions you make.

The Merriam-Webster dictionary defines trust as “an assured reliance on the character, ability, strength or truth of someone or something; dependence on something future or contingent: hope.”

About one-third of all farm incidents involve children, and every three days a child in the U.S. dies in a farm-related incident. Prevent your child from becoming a statistic by being proactive about practicing safety on the farm.

The true cost of equipment breakdowns is often far higher than the dollars spent on parts to get up and running again. And regardless of why equipment breaks down, downtime adds additional costs to your operation.

What makes the difference between employees who are happy at work and those who are miserable? 

Feeling good about yourself can help the family farm succeed by making you better at making decisions, dealing with problems, negotiating and leading.

The modern agriculture landscape often calls for a more strategic approach – one that may involve identifying and grooming a non-family successor.

With children home throughout the COVID-19 pandemic and now with summer approaching, there have been many opportunities to show your children more about working on the farm.