Kindred 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. In the process of farm succession planning, debt can shape the strategy in several ways—from who inherits the land, to how the transition occurs, and what financial burdens the new generation will face.

Let’s break it down and see how existing farm debt plays a pivotal role in succession planning, and why it’s so important to address this early with trusted advisors.

Make sure to check out more episodes on our Podcast page. Feel free to reach out any time to see how Kindred can help you and your trusted advisors manage the complex succession plan process with simple software – cutting time & cost of the current process by 50% or more.