By Matt Reese and Joel Penhorwood
With the topic of farm succession comes a number of less-than-pleasant potential conversations between generations. Farm Credit Mid-America’s Melanie Strait-Bok, senior vice president of agricultural lending, said FCMA financial officers can be a great resource for tools and advice to work through those tough conversations.
“I know everyone makes the joke that a farmer never retires, but succession planning goes beyond retirement. It’s looking at how to have a viable operation today and move that viable operation into the future, whether that’s transitioning to the next generation within the family or bringing in somebody outside the family,” Strait-Bok said. “How do we make sure that we can bring in the next generation of farmers so that they can be successful and learn? When you think about succession planning, I know conversations might be slightly difficult, but that’s why you have individuals around you to help like your financial officer at Farm Credit, your accountant and your attorney.… Continue readingRead More »