FARM LIFE NEWS
Woodbury: Farm Family Business
Lance Woodbury DTN Farm Business Adviser
Mon Jan 6, 2014 01:33 PM CST

Several months ago I sat down with a father to discuss the succession options in his diversified agriculture operation. It appeared his children were not coming back to the family business, and he and his wife, both at retirement age, wanted to think through the possibilities. Should they sell the business and land? Transition the operation to a key employee? Rent the assets to another operator? There were several good options to extract some financial value from the company; we just needed to decide which one to pursue.

As we talked about the pros and cons of different strategies, I ...

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