Business Transfers
Transferring management responsibility and farm assets to the next generation or a non-family member is an important, but sometimes confusing process. On one hand, exiting farmers face a number of issues, such as retirement and estate planning, that factor into the farm succession process. For their part, new farmers face a tremendous uphill battle in order to obtain the necessary knowledge, skill, and finances to succeed in the agricultural business environment. For both parties, there are strong emotional ties that bind a family to a farm business which can be equally as challenging during periods of change. |
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