The Farm CPA: Top 10 farm succession-planning roadblocks

Dairy Herd Management - Paul Neiffer - The Farm CPA Blogger

Type: Article
Knowledge level: Introductory

Farm Table says:

***Please note this resource is no longer available*** A checklist of hazards for the controller of the farm business to think about. Practical tips, not just jargon.

This Dairy Herd Management article lists a checklist of hazards to avoid during the change in ownership process.
The list includes:

  • Start planning too late
  • Assume a family member will take over the business
  • Divide the farm equally among heirs
  • Wait too long to transfer real authority
  • Distrust your successor
  • Fail to have potential successors gain experience at another business
  • Be secretive about your plans
  • Dread your retirement years
  • Plan on your own
  • Avoid the journey and look for a cookie-cutter process
2016 - Australia - Dairy Herd Management - Paul Neiffer - The Farm CPA Blogger
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