The dream for many farmers is to create a legacy: a family business that can continue to prosper after they are gone. But like farming itself, this is more easily said than done. To increase the chances that your farm will be part of your family’s future, embrace communication today, discussing not only the day-to-day business of running the farm but also the larger, long-term concerns involving succession, ownership and financial compensation. These aren’t easy conversations to have, but they can help ensure the ongoing success of your farm. Here’s what you need to know.
But beyond any specifics, what’s most important is that you make sure a discussion happens. “You have to talk about it,” says Goetting. “Talking about it helps us mentally sort out these things.” It will help keep you on track to securing the farm’s future, she suggests.
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