Going out on top? Start transition process now
Just because the farm is making money this year is no reason to put a scheduled retirement on hold, says farm consultant Tim Schaefer, Farm Futures blogger and co-founder at Encore Consultants, Morris, Minn. Most farmers transition out of senior management over three to five years, regardless of market conditions. While COVID-19 may have slowed the planning process this year, most estate transfer specialists can continue that work through phone or email exchange. “Farmers with heirs waiting to move into senior manager roles may be more inclined to begin their phase-out compared to farmers w...
Source: farmprogress.com