THE PROBLEM: How can a farm owner recognize and manage the challenge of seeking an outside successor?

摘要

Last month, I discussed a question from S.Z. from Iowa ("Can Their Problem [Be Solved?" August, page 132) about succession when none of the heirs seemed ready to take over the grain operation. "My problem," S.Z. wrote, "is that nei-ther of my on-farmchildren [he has off-farm heirs also] seems to have the ability to step into my shoes. I want very much to keep our profitable business intact to provide opportunities for future genera-tions, but wander I if that's realistic. My wife insists on treatingall of our children equally in the estate, which makes things even more complicated. Suggestions?"