Business Law
Are We Helping to Pass on the Farm?
The French writer and poet, Antoine de Saint Exupéry stated, “You do not inherit the earth from your ancestors: you borrow it from your children.” We should consider that you do not inherit the farm from your parents; you borrow it from your children. When and how you return it to the successor, whether or not they are a child, is a decision that only the owner can make. Farm succession planning is not easy. It requires commitment of all involved and the discipline to adhere to the timeline and tipping points. And even though it is not easy many farm families successfully complete a farm business succession plan and those farm family businesses will continue for generations yet to come.
To learn more about farm succession planning and to access the article, please fill out the form below.
Complete the form to get your free guide
Related Resources
Flexible Tax Strategies Now Needed in Succession Planning for Business Owners
Minority interest discounts may no longer make sense for family businesses. Help your clients with a smart, flexible tax planning strategy for succession planning.
Learn More
Business Succession Planning: How to Coordinate an ESOP Exit Strategy with an Estate Plan
In the right situation, an Employee Stock Ownership Plan (“ESOP”) can be an effective business succession planning tool for helping owners of closely-held businesses successfully exit the business while preserving the future viability of the business.
Learn More
Succession Planning for Solos: Peace of Mind for Your Family, Opportunity for Your Practice
Succession planning offers clients peace of mind in the event of an attorneys death or incapacity.
Learn More