Archive for February 2025
Kindred Podcast Episode 12: Why Farm Family Communication is Crucial in Farm Succession
Communicating a farm succession plan to all family members can be challenging, but it’s essential to ensure that the process is fair, transparent, and supportive of family unity. A farm succession plan, after all, is not just about transferring land and assets; it’s about passing on a legacy. To make sure everyone is on the…
Read MoreKindred Podcast Episode 11: Farm Succession Disputes – Prevention and Resolution
When it comes to farm succession planning, one of the most challenging aspects is managing potential legal disputes among heirs. Transferring a family farm from one generation to the next can be emotional and complicated, as heirs often have differing ideas on how the farm should be managed or divided. These disagreements can lead to…
Read MoreAre there specific loans or liens on farm assets that need to be refinanced or paid off before transfer?
When it comes to transferring a farm, understanding loans and liens on the farm’s assets becomes crucial. Imagine it’s like moving to a new house; you wouldn’t want any unpaid bills or problems left behind. Refunding or clearing these financial commitments is a key step. Let’s explore this in detail! Understanding Loans and Liens on…
Read MoreWhat key elements should a formal farm succession agreement include to ensure clarity and enforceability?
Key Elements of a Formal Succession Agreement Planning the future of your farm is a big task, especially when it involves passing it down to the next generation or selling it. One of the most important tools in this process is a formal succession agreement. This document spells out how the transition of ownership and…
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