Common misconceptions about farm succession planning

The topic of succession planning is something we will always continue to learn about and today we are taking a unique approach to succession planning and focusing on common misconceptions.

Dairy Stream host Joanna Guza and guest, Attorney Will McKinley, discuss the following topics: 

• Most common misconception
• Who should be involved
• Timeline
• Estate plans
• ‘Fair means equal’
• ‘Sweat equity takes the place of wages’
• Giving up control of the farm
• Legal protection from outside forces
• What you should be asking your attorney
• Advice to young farmers

 About the guest:

• Will McKinley is the President and CEO of Menn Law Firm, a full-service law firm headquartered in Appleton, Wisconsin, with one of the state's largest agribusiness legal practices. Will focuses primarily on helping farms and ag-related businesses with a wide range of legal issues, but in particular, Will enjoys working with farms on business succession planning.

This is sponsored by the Menn Law Firm.

Resources:

• Menn Law Firm Agribusiness resource
• Contact Will: [email protected]

Compeer Financial is proud partner of Dairy Stream. Learn more about Dairy Stream sponsorship.

This podcast is produced by the Voice of Milk, a collaboration of individual dairy organizations working to improve the future of dairy farm families. Become a sponsor, share an idea or feedback by emailing [email protected].