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Business Law

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Business Law

Are We Helping to Pass on the Farm?

The French writer and poet, Antoine de Saint Exupéry stated, “You do not inherit the earth from your ancestors: you borrow it from your children.” We should consider that you do not inherit the farm from your parents; you borrow it from your children. When and how you return it to the successor, whether or not they are a child, is a decision that only the owner can make. Farm succession planning is not easy. It requires commitment of all involved and the discipline to adhere to the timeline and tipping points. And even though it is not easy many farm families successfully complete a farm business succession plan and those farm family businesses will continue for generations yet to come.

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