#AGLEGACY #FarmSuccession #EstatePlanning
When the founding generation desires to leave a lasting legacy, the outgoing members should recognize that they must be replaced at some point.
AG LEGACY can help…
Check the AG LEGACY Materials tab at AGLEGACY.org
WILL the outgoing generation help to actively shape the process and determine what kind of legacy they leave behind or if they will simply let events unfold without their input?
DECIDE who should be involved in deciding the future of the operation. Does it make sense to keep it together? What are the goals for the property? Is the goals to pass it on as a working operation? When should the transfer occur? Will the out-going generation need continued income from the operation for retirement?
WHEN no one is interested in taking on the management responsibilities from the retiring generation, passing on a family’s agricultural legacy requires careful consideration of various factors. It is important to carefully explore the options before making a choice.
