Succession Planning
Exit plans are not one-size-fits-all. There are four types of owners, which are characterized by prioritizing getting the most money, continuing to work, growing the business to sell later for a higher value and ready to leave now.
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Chris-Adie Holsteins: Staying cow-oriented while looking to the future
The Flaman family stays committed to cow health and comfort while embracing innovation.
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The importance of financial literacy for the next generation of dairy farmers
Investing in financial literacy will ensure the sustainability, profitability and growth of family farms in an increasingly complex agricultural landscape.
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Motivating the next generation to step up
Aside from preparing the next generation with the skill sets they need to be successful in managing the farm, increase the chances of them wanting to come back to the farm by creating work and life boundaries and aligning expectations to help family dynamics at work and home.
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Tips for creating a monthly and annual spending plan
Separating farm and household expenses can help when creating realistic budgets for both.
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Transition planning traps
Avoid transition planning problems with these tips on entity planning, inaccessible cash, fragmented assets and retirement planning.
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Is it time to walk away? The transition plan breaking point
Transition planning can be messy and heartbreaking. If opening up communication and forging a plan is not possible – even with the help of a third party – it may be time to move on.
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How to get those tough and tender conversations started – part two
Methods to approaching tough transition conversations have evolved over the years, and today the best way forward starts by knowing your motivation for farm transition.
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It’s only your future and legacy at stake
Setting exit goals and assessing financial readiness can help you make impactful decisions for your farm during the succession-planning process.
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