Generational Transition Program

Is “Equal” the Same as “Fair”?

“The most unfair thing you can do to your children is to treat them all equally,” stated a farm/ranch transition expert.

The story of “the Little Red Hen” cames to my mind.  The hen and her chick plant the seed, tend, harvest, grind, and bake the wheat into bread.  Although the poultry clan ask other farm yard animals for help, the other animals refuse to participate.  After smelling the hot crusty loaf, the other farm animals want to eat the bread they did not contribute to.  Was it fair if the Little Red Hen chose to only share the bread with her chick?  Was it fair?  Was it equal?

FREE LEGAL & FINANCIAL CLINICS IN OCTOBER

Free legal and financial clinics are being offered for farmers and ranchers in October. The clinics are one-on-one meetings with an Ag Law Attorney and an Ag Financial counselor. 

These are not group sessions, and they are confidential.  The attorney and financial advisor specialize in legal and financial issues related to farming and ranching, including financial and business planning, transition planning, farm loan programs, debtor/creditor law, debt structure and cash flow, agricultural disaster programs, and other relevant matters.     

To sign up for a clinic or for more information, call the Rural Response Hotline at 1-800-464-0258.  Read more...

Farms Dwindle. How Many Will be Left in One Generation?

Unprecedented consolidation is on its way.  According to an article in the Successful Farmer (May 2019), only “one out of every four or five commercial operators today” will be farming in the future.  “They (mega-operators) (will be) CEO farmers.”

But this generation has the ability to change this forecast?  How? 

Here is an opportunity to obtain an independent, outside perspective on issues that may be affecting your farm or ranch.  Free legal and financial clinics are being offered for farmers and ranchers. The clinics are one-on-one meetings with an Ag Law Attorney and an Ag Financial counselor.

These are not group sessions, but individual sessions.  And confidential!  The attorney and financial advisor specialize in legal and financial issues related to farming and ranching, including financial and business planning, transition planning, farm loan programs, debtor/creditor law, debt structure and cash flow, agricultural disaster programs, and other relevant matters.  Read the full article for September locations and dates.

Buy-Sell Agreement: A Useful Transition Legal Tool

A buy-sell agreement can be a useful legal tool when planning your ranch transition.  This agreement addresses what happens when one or more of the owners dies, retires, becomes incapacitated or wants out of the business.  Benefits may extend beyond the business and into family relationships.

What is a buy-sell agreement?  Can a buy-sell agreement benefit your farm or ranch transition plan?