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  • Darryl Smith

Passing Down your Business – Is it Time to Sell the Family Farm? (Part 1)


Passing Down your Business – Is it Time to Sell the Family Farm?
Passing Down your Business – Is it Time to Sell the Family Farm? (Part 1)

We all know that farming is unique compared to all other careers. One of humankind's oldest and hardest-working professions is more than a business to you – it’s your entire life. Perhaps you have a long and wonderful family history with your property. You love to wake up at the crack of dawn and work all throughout the day past nightfall. Farming is your world and you work hard for your business. However, sometimes good things must slowly end to allow a new chapter of your life to begin.


It’s time to think about the future of your business. As golden as the wheat fields you grow, your golden years are upon you and it’s time to not only start planning your retirement but what will happen to your business after you retire. For many farming families, transferring your business down to your kids is one of the oldest traditions in the book. Times have changed though and there are many new challenges farmers face when looking into succession planning.


It's time to call a family meeting.