Does your family have a family farm that lately has been causing more headaches than happy memories? Let’s face it. Managing a farm on a daily basis is no easy task. While it may have been successfully run in the past by other generations, it doesn’t mean that you are required to keep it going. If your family farm is too difficult to maintain and is causing friction within your family, keeping this farm for the long haul may not be the right move. At Dunncreek Advisors, we aren’t here to make this difficult decision for you, but we are here to help guide you through this and ensure that the financial side of the decision is taken care of for you. Read Full Article
Holding on to the Family Farm May Not Always be the Right MoveRead More
A critical link in the chain that makes a smooth and productive transition to the next generation is an effective estate plan. Here are a few things to review to be sure you are on track.
For your farm business to successfully transfer to the next generation, you will need enough cash flow to support two family units at least for a time.
Poet Robert Browning said “less is more.” As we work toward our financial goals, we should stay focused on less things.
Have you ever asked yourself life’s most important question, “what is the point to what I am doing?” Or maybe it’s more like, “why am I am doing what I am doing?” For our farm clients at Dunncreek Advisors, it’s a valid question that runs through the minds of every farm owner that walks through our doors. Honestly, have you thought about what your purpose is? Many of our clients come in and tell us that they are working hard and building something that will hopefully bless their next generation. However, is building up your farm truly going to bless others? Is it your true purpose? Dunncreek Advisors can help to be a third party resource when important decisions like your farm legacy come into play, regardless of your purpose.
Lots of folks have life insurance. Often they got it a long time ago. Mostly they think that it’s handled and they don’t need to think about it. But, often, they are wrong. A quick check is worth the trouble.