4 Things to Do When Your Kids Come Home to Farm
Matt and Lisa Moreland hoped at least one of their sons would return to their farm based near Medford, Okla. What they didn’t anticipate was all three sons – James, Will and David – wanted to join the family business once they completed their college degrees. “It put me back on my heels. I thought, […]
Drovers 2023 State of the Beef Industry Report
150th Anniversary State of the Industry report is designed to provide a benchmark of information to help producers make successful decisions.
USRSB Provides Step-by-Step Guide For Grazing Management Plan Development
New Resource: See the U.S. Roundtable for Sustainable Beef Grazing Management Plan Development Module. The majority of ranchers have a grazing plan in their heads that evolves as they evaluate their pastures in real time. But having a baseline management strategy on paper can help extract the full value of your experience and the full […]
What is Estate Planning and Why Should a Rancher Embrace It?
Estate planning is the process of accumulating, preserving and distributing assets to achieve your financial goals during your lifetime, as well as to provide for your heirs according to your wishes at death. As such, estate planning is not a one-time event. Instead, it is an ongoing process designed to accomplish accumulation, preservation and distribution […]
Understanding Farm Business Transfer Strategies
Transferring the farm business from one generation to the next can take several years. This is due, in part, to the large amount of capital involved, explain Gary Hachfeld, former extension educator; David Bau, extension educator, and C. Robert Holcomb, extension educator, University of Minnesota Extension. This time of transfer can also be used to share knowledge, […]
Tips To Better Communication During Farm Succession Planning
Farming together requires good communication, mutual respect and trust. It is necessary for everyone to be willing to give and take. This is probably the most stressful part of farming, explain Gary Hachfeld, former extension educator; David Bau, extension educator, and C. Robert Holcomb, extension educator, University of Minnesota Extension. While this is not impossible, farmers should […]
Transitioning The Ranch: How to Figure Out What This Might Look Like
When you begin discussions on what transitioning your ranch might look like, the U.S. Roundtable for Sustainable Beef recommends you and your children answer each of these questions to help better shape your planning decisions and the future of your operation. Questions to Ask Parents: Questions to Ask Children: In this video, Elaine Froese, farm […]
10 Ways Family Members Sabotage the Implementation of a Ranch Transition Plan
Estate planning is a process that is often avoided because it deals with issues regarding people, property, laws and taxes – issues that family members may not be ready to think about. But planning an estate can benefit every agricultural family. The process of creating a plan reduces the stress and uncertainty of not talking […]