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Category Archive for: ‘Succession Planning’

Another Reason for a Succession Plan

Old Barn1

Watch this video with Dr. David Kohl discussing the new issues arising with lenders. Lenders are starting to include transition management in loan qualification as a strong succession plan is being viewed a strategy to minimize credit risks.

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Farm Sale or Succession Planning

Cultivating Business farm sale or succession feature

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Farming Is Big Business

Farmer

This article is hosted on CAFA’s website but doesn’t load consistently in all browsers so we re-published it here for your convenience. These days, farming is big business, and with ever increasing farm size come bigger financial risks Bigger farms In two generations, Alberta’s population has changed from predominantly farm and rural to 80% living in towns and cities. Many farms …

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Planning to Sell Your Farm or Small Business

Flowershop1

Recent Statistics Canada information shows that over 70% of all farms and small businesses will be sold or rolled to the next generation over the next 20 years.  And those owners looking at selling their business, need to know that timing matters when planning to sell your farm or small business. Business owners and farmers need to give their accountants …

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Selling Your Farm or Small Business

Passing The Baton

Some time in the future, your farm or small business will be transferred to a new owner. You may have a time frame in mind, or you could be forced to sell because of a change in health or other circumstances. At any rate, if you’re looking at selling your farm or small business, there are some things to keep …

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Children Are Missing Out On Farm Succession

Farm Girl

A large part of our financial planning cases involve families dealing with farm succession issues. Subsequently, it comes as little surprise to learn that farmers’ children are missing out on farm succession …all over the world. ABC Rural is an Australian media outlet that posted an empathetic article on daughters being left out of the family farm succession plan. FarmOn’s …

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The Realities of Succession Planning

Harvestjpg

  FarmOn.com’s Jen Jenkins shares her experience with taking over the family ranch — an insightful and personal look into the realities of succession planning. The future of agriculture can be very bright… the challenge [that young people] face today about agriculture is our attitudes about it. I think it’s all there to be successful and to have a great …

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Who Gets The Family Farm/Business..?

Holding Grandpas Hand

It’s time for “The Talk” It’s been my experience that people seem to think they’re going to live forever, and often wait until they’re forced to think about retirement and estate planning issues.  But it’s too late to get started with this process when the ambulance backs up to the door, as many of the planning options available are taken …

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