AGvisorPRO, Finance, Accounting, Legal, Succession Planning
Seven Persons, AB|Nov 20, 2024
If a farmer/rancher wants to complete their succession plan by age 60, what age do they need to start their planning?
Answers (3):
Dec 04, 2024
Today is a good day.
Nov 21, 2024
I would agree with Rob, with the added provision that it depends upon how much knowledge and information needs to be shared with your successor(s)! Mechanically the transaction likely takes 2 to 4 years to not be rushed. The education and skill development can take much longer
Nov 21, 2024
The hardest part is sitting in the family down. Generally, I think it takes between two and four years to get a continuity plan in place.