Does succession planning have you lost?
It doesn't have to be this hard.
You've been farming the family fields for a long time. With retirement on the horizon, it's time to start planning for succession — but where do you begin? Planning for passing on a farming operation can be a virtual maze of uncomfortable conversations, competing interests, tax issues, and potential business restructuring. And, like most things in life, the earlier you start, the better. That's where estate planning experts come in, and there are many with experience in agriculture who can help you. The attorneys at McShane & Bowie partner with the MiFarmLink project. They can help you craft a personalized succession plan that will protect you, your heirs, and your assets.
Get started with a consultation
Here are answers to some questions you may have:
How do I get started? Schedule a consultation session, which can last 1- 2 hours. This will help lay out the path to your succession plan completion.
How do I schedule the consultation session? Just email Amanda Kabelman, assistant to Michelle Anthes, at firstname.lastname@example.org.
What do I need to bring with me? It is very helpful to have a few things prepared for the session if you can, such as:
- A complete list of all your assets and how they are titled
- A complete list of all Partnerships and LLCs involved in your operation, including who the members are and what assets the partnership/LLC owns.
- All life insurance policies and retirement policies you have
- Your estate plan, if you have one (this is different from a succession plan)
- Your vision of what a successful transition is for your operation
Additional succession planning resources can be found on our Resources page right here at MiFarmLink!