All farms, regardless of size or type, are vulnerable to disaster. Like other business owners, farmers should have plans in place that address what to do when disaster strikes. Here are some guidelines for developing a plan.
After graduating from Iowa State University in 1998, Dave Hommel wanted to go back to Eldora, Iowa, and farm in partnership with his dad, Tim. After attending seminars for two years about planning for farm succession, the Hommels crafted a partnership that
When Kyle Barlow graduated from Purdue University in 2003, he headed home to farm, just like hundreds of other ag school graduates across the country. But that's where the similarities end, because in Kyle's case there was nobody waiting for him at the fam
When transition agreements aren't put in writing and a parent dies, the children often disagree about how to divide the farm. Dr. Don Jonovic offers advice on how to avoid division within the family by agreeing on a plan before it's too late.
Alan Thompson owned 1,000 acres by the time he was 24, without a cosigner. At 30, he got caught in the wave of rising interest rates and falling land values and had to sell most of the land. Now he wants to help his son start farming but also reduce the ri