Senior Partners Exit Strategy
At 52, youthful Jeff Topp and wife Jan prepare for a surprising second act: Instead of the hectic daily duties managing the family's grain elevator, 19,000 acres, seven crops and commercial and...
Succession and Estate Planning
How to Groom Replacements
February 18, 2011
Power shifting in any business is often uncomfortable. Is the older generation ready to hand over some power and is the younger generation prepared to assume responsibility?
Lay the Groundwork for Succession
December 18, 2010
Family business consultants often suggest that families in business adopt a policy encouraging farm kids to go to college or technical school, and then work somewhere else for a few years before...
Boost the Next Generation’s Success
November 18, 2010
Requiring an off-farm apprenticeship will build appreciation for home-farm experience and broaden a successors skill set.
Estate Planning - Don't Wait for Congress
September 18, 2010
Perhaps you've heard the saying that goes something like this: What's the opposite of the word "pro"? To which most people answer, of course, "con." So what's the opposite of progress? Congress! When...
A Parent’s Guide to Handing Off the Farm
July 18, 2010
Sharing decision-making is key to preparing the next generation for ownership.
Plan Succession Strategy This Winter
January 18, 2008
A number of steps are needed to make this transition successful.
Succession Without A Successor
June 18, 2007
SUCCESSION planning often focuses on how best to transition the management and ownership of a business to the next generation.
Create a Buy-Sell Agreement to Ease Unexpected Transitions
December 18, 2006
IN a multigenerational or multiple-partner farm or ranch, it is important to consider the ramifi cations of a partner exiting the business.
Successfully Transfer the Farm's Assets
July 18, 2006
A struggle we often see in families is the decision about who should receive ownership of the business.