Podcast
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 MoreKindred Podcast Episode 10: How do we involve our children in the succession planning process?
Involving your children in the farm or family business succession planning process can be a sensitive but crucial step in ensuring the long-term success and stability of the family legacy. Succession planning, in simple terms, is deciding how ownership and management of your farm or business will transfer to the next generation. Bringing your children…
Read MoreKindred Podcast Episode 9: Essential Legal Documents for Farm Transfer
When it comes to transferring a farm to the next generation, proper planning and having the right legal documents in place can make all the difference. Farm succession planning involves many moving parts, and without the proper paperwork, the transition can become complicated and stressful. To ensure a smooth transfer, several key legal documents are…
Read MoreKindred Podcast Episode 8: Family trust or LLC for succession planning?
When planning to transfer a family business or valuable assets to the next generation, one common question that comes up is whether to use a family trust or an LLC (Limited Liability Company) for succession planning. Both options can help you manage assets, protect wealth, and ensure a smooth transition. However, each comes with its own advantages and disadvantages…
Read MoreKindred Podcast Episode 7: Operational Skills the Next Generation Will Need to Successfully Run the Farm
Farmers today face a rapidly changing world. As farms grow more complex, passing the farm to the next generation requires much more than a transfer of land. The next generation of farm operators must develop a wide range of operational skills to ensure the long-term sustainability and profitability of the farm. These skills go beyond…
Read MoreKindred Podcast Episode 6: Farm debt: How it impacts the farm succession plan
When planning for the future of a farm, one of the most critical questions to address is, “How will the farm’s current debt impact the succession plan?” Debt management is a crucial aspect of any business, but it becomes even more significant when you are considering passing down the family farm to the next generation.…
Read MoreKindred Podcast Episode 5: Ownership Structures in Farm Transfers
When thinking about transferring a farm, the ownership structure plays a crucial role in ensuring a smooth transition, minimizing taxes, and protecting the farm’s future. Deciding the right structure depends on factors like family involvement, farm size, and long-term goals. Let’s explore the various ownership structures to consider when transferring a farm and how they…
Read MoreKindred Podcast Episode 4: Retirement Planning Key to Successful Farm Succession
Retirement planning is crucial for everyone, but it’s especially important for farmers who want to ensure their hard work and legacy live on. As part of the farm succession planning process, considering where and how you will live, as well as your anticipated income and health care costs, is vital. Let’s dive into why retirement…
Read MoreKindred Podcast Episode 3: Asset Transfer – Crucial in Farm Succession Planning
Ready to navigate the ins and outs of farm asset transfer? This episode breaks down key strategies to pass down land, buildings, and equipment—without a tax headache! From gifting to trusts, we dive into each option and explain how to keep finances stable, avoid family drama, and preserve your legacy. Tune in for tips, tricks,…
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