Common misconceptions about farm succession planning
The topic of succession planning is something we will always continue to learn about and today we are taking a unique approach to succession planning and focusing on common misconceptions.
Dairy Stream host Joanna Guza and guest, Attorney Will McKinley, discuss the following topics:
Most common misconception
Who should be involved
Timeline
Estate plans
‘Fair means equal’
‘Sweat equity takes the place of wages’
Giving up control of the farm
Legal protection from outside forces
What you should be asking your attorney
Advice to young farmers
About the guest:
Will McKinley is the President and CEO of Menn Law Firm, a full-service law firm headquartered in Appleton, Wisconsin, with one of the state's largest agribusiness legal practices. Will focuses primarily on helping farms and ag-related businesses with a wide range of legal issues, but in particular, Will enjoys working with farms on business succession planning.
This is sponsored by the Menn Law Firm.
Resources:
Menn Law Firm Agribusiness resource
Contact Will: William-Mckinley@mennlaw.com
Compeer Financial is proud partner of Dairy Stream. Learn more about Dairy Stream sponsorship.
This podcast is produced by the Voice of Milk, a collaboration of individual dairy organizations working to improve the future of dairy farm families. Become a sponsor, share an idea or feedback by emailing podcast@dairyforward.com.
