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ownership transition

Farm Succession: Business Entities

Purdue Commercial AgCast Podcast

When it comes time to transition your farm business to the next generation, whether your farm is set up as a sole proprietor, partnership, corporation, or LLC, how your business is structured will affect many aspects. Deciding on a business entity requires much thought and advice. In this Purdue Commercial AgCast episode, our seventh in our Farm Transition Planning series, Purdue ag economist Brady Brewer and members of the Purdue Farm Transition team Kelly Heckaman and Ed Farris discuss business entities.

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Farm Succession: Business Governance for Transition Planning

Purdue Commercial AgCast Podcast

Adding on to our transition planning series, in this 6th episode, Purdue agricultural economists Brady Brewer and members of the Purdue Farm Transition team Renee Wiatt and Maria Marshall focus on how and why to set up governance policies in a farm business.

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Farm Succession: Conflict Management for Transition Planning

Purdue Commercial AgCast Podcast

In this fifth episode of our series about Farm Transition Planning, we focus on conflict management – what is conflict, what causes it, how do we handle it within a farming business to come to a resolution.

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Measuring & Analyzing Farm Financial Performance

Compute accrual net farm income, and key financial ratios and repayment capacity measures from Schedule F information and beginning and ending balance sheets.

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Farm Succession: Human Resources for Transition Planning

Purdue Commercial AgCast Podcast

Keeping the farm business running between generations and management tiers can be difficult, but job descriptions and keeping open communication is key. Purdue agricultural economists Brady Brewer and members of the Purdue Farm Transition team Jenna Nees, Denise Schroeder, and Kyle Weaver discuss the importance of having a strong HR strategy and some common issues that many farms face as they transition management roles.

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Farm Succession: Feasibility of Adding a Family Employee

Purdue Commercial AgCast Podcast

Adding to our series about Farm Transition Planning, in this third Purdue Commercial AgCast episode, we discuss how to evaluate if the farm can add an operator or hired employee.

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Farm Succession: Transitioning Business Management

Purdue Commercial AgCast Podcast

Following our episode about Farm Transition Planning, we now take a closer look at some of the key areas of forming and executing a farm succession plan. To kick this series off, Purdue Agricultural Economists Michael Langemeier and Brady Brewer cover the topic of transitioning management of a farm from one generation to the next.

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Farm Transition Planning

Purdue Commercial AgCast Podcast

Maria Marshall, professor and director of Purdue’s Institute for Family Business, joins Brady Brewer to discuss farm succession planning. They answer why it’s important to start planning both a management and an ownership transfer ahead of time, who to have on your team of advisors, and the things you can do to start to prepare.

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Transferring Farm Machinery Through a Lease Agreement

There are numerous methods to transfer the ownership of farm machinery. Lease agreements often lower the cash flow requirements of the younger generation.

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Transferring Business Management

Transferring business management between generations is one of the most critical steps in transitioning the business from an older generation to a younger generation.

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