Library

Preparing to transfer the farm business

Gary Hachfeld, David Bau and, C. Rob Holcomb (2017)

Summary

Transferring the farm business to the next generation is seldom an abrupt process. The transition generally takes place over a number of years. The entering generation needs to establish a firm financial footing as well as learning to manage the business. The senior generation has to be willing to turn over control of the business and trust that the successor will do well.