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Start taking proactive steps towards your farm succession plan with proven techniques in this guide.
GPS Farm Succession Guide
The 3 Key Issues Every Succession
Strategy Must Solve
- Know the real issues that break up our family farms.
- Be challenged to look at farm succession from a different viewpoint.
- Discover the road map that guides your farm succession to the right path.
What You'll Learn
The Farm Heir's Perspective
Farm heir's benefit from fairly consistent operating agreements while the parents are in control. That can change quickly when a parent is incapacitated or passes away. Discover the risks that jeopardize the operation between generations.
The Off-Farm Heir's Perspective
Many off farm heirs are not looking to cause a problem in the farm operation. Yet every day they face their own family situation, goals, and financial concerns. Learn what may motivate someone to keep the land, or cause them to sell.
The Parents' Perspective
How does one define fair vs. equal when dividing up an estate? Will you focus on "market values" or "family values"? Is it possible for the kids to get along while keeping the farm in the family? Without taking the proper steps, their role can change from being a parent to a being a referee in an instant.
Putting It All Together
Does it make sense for the family farm to go into debt every generation as family members are bought out? How many times can that happen and still maintain a profitable operation? There is a step by step method to develop your farm successions strategy. Farm Estate GPS can be your guide.