If there is one reason why farm succession planning should start sooner rather than later it’s because the decisions made early on can have a dramatic impact on everyone involved.
One effect is psychic, it makes us all feel better, more assured, and confident when we know as much as possible about what’s in store for us. The other reason is financial, remember the concept of compound interest and the “rule of 72″ – well they come into play in a big way when you’re considering how to effectively develop a succession strategy for your farm.
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