Succession Scars
Family businesses transitioning from one generation to the next are full of promise.
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Lance Woodbury is an adviser to family owned and closely held agriculture businesses, and is a partner at K·Coe Isom, a leading agricultural consulting firm. He also facilitates several agricultural peer-group initiatives and writes a family business column for DTN/The Progressive Farmer.
Learn MoreFamily businesses transitioning from one generation to the next are full of promise.
Begin the planning process with activities that build your capacity for change.
Having no heirs or children not returning to the farm doesn't mean an end to your legacy.
Farm leadership transitions require careful review of stakeholder responsibilities.