For many farm and agricultural families, thinking about how to transition or sell the family business can be an uncomfortable topic. Whether it’s a dairy farm, a tree nut operation, a fruit-processing plant or a cattle ranch, there can be any number of issues complicating a candid discussion about the family business.
Often we see our clients who have adult children with interests or careers outside the farm. Or there is a lack of succession planning to decide who is in control and how assets are divided. With an increase in land values, dividing assets equitably may present problems for a transition.
We suggest candid discussions around what is important to your family values which allow us to help you structure a business transition so that the next generation can successfully manage together.