Spend time and money On Succession Planning: Succession planning is one risk in farming that you can do something about

摘要

There are so many risks that you can't control in farming, so why not take advantage of the ones that you can control — like succession planning, says Angela Gloy, Purdue University Extension farm business planning specialist. Some farmers initiallyshy away from the time and cost commitments associated with planning professionals, such as accountants and attorneys. Generally, they come to recognize that the end goal is validated. For the most part, current farm owners recognize the value of a succession plan, and as the first generation of formal planners, they are in search of general guidance on how to proceed, she points out.