Latest News From Legacy Project

Succession planning is difficult and time-consuming, but it is also a key step for a business that can grow into the future. Regardless of where you are in the process, you can always take another step.

You are likely making plans for seasonal help. If that team includes children or grandchildren, you might want to consider setting up a custodial Roth Individual Retirement Accounts (IRAs) for them.

When a farmer passes an operation to the next generation, the inheritance can be fair, but it is rarely equal.

Here's how you can avoid committing these harmony-harming mistakes.

How can you get back on track with your succession plan? Focus on a contingency plan, a cash-flow plan and communication plan.

Leaders thrive with structure, good communication and clarity regarding the future.

The American Families Plan provides direct and indirect benefits to families. It also raises a lot of key questions for farmers and their succession plans.

Your farm’s future path might be winding and complex but starting the process can be simple.

Set clear expectations and accountability for fruitful family governance.

Suicide and Mental health issues are one of the side-effects of a stressful ag economy. A dairy farmer discusses losing a loved one to suicide and Farm Aid says calls for help are increasing.

An Illinois dairy farmer is handing the reigns over to his sons after 43 years of service to the industry.

What you think you know about estate planning might be all wrong

Handing over the reins to the family farm can be a difficult process, but it is the ultimate goal of most families to pass on the farm to the next generation.

With no kids to transition the farm, New York dairy farmer John Knopf worked with young Bob DiCarlo toward farm ownership.

Conflict will occur on your dairy. Identify the root of the problem and address it quickly.

Take the time to manage conflict and disagreements before they take a toll on your operation.

Leaving things to chance is never the best option, especially when it comes to your business. Kevin Spafford offers 9 key points to remember when building your succession plan.

Insurance, pensions and retirement income plans all can protect both key employees and your business.

The senior generation needs to do three types of planning: Estate, succession and business planning.

One of the challenges of any farm transition plan is having the succeeding generation fully prepared to take on the business management of the operation.

Rapid expansion cements the need for transition planning.

The Dell family hopes to tap into the fledgling agritourism industry fueled by urban residents who want to know how their food is grown.

New buy-sell agreements give a six-month window to complete transactions.

The U.S. House of Representatives voted to extend the current tax code for another year.

Gritty details make or break viable farm business agreements.

Contemplating the what-ifs to move forward.

Brothers finalize buy-sell agreements.

Even though life insurance can be expensive, it’s usually cheaper than taking out a loan when a partner exits.

New Mexico State University is partnering with Texas A&M and other universities across the country on a $9.75 million grant from the U.S. Department of Agriculture's National Institute of Food and Agriculture to research bovine respiratory disease and how to reduce its prevalence in beef and dairy cattle.

After months of document collection and analysis, the family sat down with their Legacy Project advisers to start sifting through options. What their advisers found shocked the Moes family.

The Rovey family of Glendale, Ariz. is a great example of finding and making a way for each generation to stay involved in agriculture.

Gathering documents is a critical phase in sound planning.

Every morning at 4, Jim and Greg Moes meet in their office at their dairy’s new milking center to plan the day’s activities. It’s quieter then, before feed wagons and skid steers and milk trucks roar through the operation.