An estate plan is not a succession plan

An estate plan is not a succession plan

An attorney specializing in farm succession planning says the families that are the most successful transitioning ownership are business-minded.

South Dakota-based Clint Fischer tells Brownfield farm size doesn’t always dictate a farm’s future.

“Is this a true business? Do we have entities? Do we have agreements in place? Do we have documents that are standard operating procedures for people to follow or is it really a glorified hobby?”

He says intentionally shifting management and oversite of a farm needs to be carried out long before assets are divested following a funeral.

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