Knowledge Center Blog

Welcome to the Farm Credit Knowledge Center Blog!  This blog is a combination of posts from industry experts, Knowledge Center staff and guest contributors covering all aspects of agriculture and life in the country.  We want you to participate in this blog, sharing your thoughts and comments about the topics posted here.

Posts

Uncle Al's Big Picture Transition Plannng Process

Last month I made a bunch of sarcastic (and not so sarcastic) comments to get you thinking about your future and your family’s future.  Hopefully you’ve started thinking that transition planning might be worth the effort.  A little bit of planning might help preserve your family farm or business, and more importantly, it might keep your family together.  So what’s the next step?
 
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The Future of Your Farm & Family - Are You Planning For It?

I speak to a lot of groups about a lot of topics.  These days the most common topic that agricultural groups ask me to address is transition planning – how can/should they bring the next generation into the farm business?  Transition planning is a process for determining how to transfer ownership of assets and management responsibilities to the next generation.  It’s one of those topics that most families know is crucial for the future of the family, but they just never get around to doing it.  I don’t need to remind you of the reasons why, but I will.
 
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Tools for Beginning Farmers - Decision Making

Let's face it, beginning a farm or agribusiness is tough.  There are many different factors to consider, and it can be costly.   Fortunately there are resources available that can help.  We'll be sharing some different resources periodically on this blog.  This week, we'd like to share a great resource from North Carolina's Cooperative Extension on Decision Making.
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Farm Transition and Succession Planning - Thoughts for the Younger Generation

In both Virginia and West Virginia, the average age of a farmer is now over 59 years old.  In Virginia, 36% of farmers are over 65 years old.  For many farming operations, this means that the farm will be transitioning from one generation to the next, or one owner to another, in the next 10 years.
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New Year, New Resolutions??

Welcome to 2017!  Are you one of those people who set resolutions for the New Year?  I have to be honest, I never really got into that…but I heard someone the other day to setting goals, not making resolutions.  Their reasoning?  Resolutions are just for you, and are easy to break, but goals are something bigger, and carry more weight and accountability.  I really liked that thought! 
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