Recently my dad and I were discussing the amazing advances in crop production he’s seen over his lifetime. It’s something many of us take for granted. People outside agriculture don’t even see it. But it’s truly miraculous when you consider how technology has advanced our production of food and fiber.Read Full Article
Archives for July 2016
Goals for Your Farm Legacy Planning
Whether it’s the 4th of July or President’s Day, Martin Luther King Jr. Day or Memorial Day, there is a lot of discussion about legacy and what each of those days and people mean to our country. So when it comes to agricultural producers, including those who work with them and those who love them, what exactly is the “legacy” for which we are planning? There are two definitions for “legacy” offered in the dictionary: A gift by will of other personal property such as money; or… Read Full Article
Assessing Business Transfer Readiness
With any small business, one significant measure of long-term success is exiting the business on your own terms. Many people are surprised when they learn that exiting a business was unsuccessful. Others are surprised when they learn that other people in their life have expectations about how they exit the business. For now, we will assume that you have a suitable successor in mind to take over your operation. (This is also harder than it sounds and we will discuss this issue in a later post.) Read Full Article