As a young Nebraska farmer, Maggie Holub is in a league of her own. She has a complete, but flexible, succession plan — in writing. Even though she only owns a portion of her acres, and she has an off-farm job, Holub knew she shouldn’t put her plan on the “later” list. She encourages other farmers to do the same. Here’s her advice:
- Take ownership in the process. You can’t put the future of your farm in the hands of a professional.
- Define your farm’s vision as well as what you want your legacy to be.
- Interview multiple professionals (attorneys, accountants, etc.) to find the right ones who fit your situation and personality.
- Share your plan with your family and business partners.
Listen to Maggie Holub on the Farm CPA Podcast with Paul Neiffer: