A financial expert says it is never too early or too late for farmers to be having discussions with their famiy members about succession plans for their farm.
Sherrie Volk with IG Wealth Management says succession planning is not a one size fit all project, and because of that discussing it can be complicated .
"There are tax strategies and ownership transfers. Is it an inter-generational transfer or just the sale of a business. There are family dynamics, legacy planning, creating retirement income for you. There are so many topics that it can become quite overwhelming just to look at that and say "Okay, herte is my succession plan."
Sherrie and IG Wealth Management are hosting a free farm and business succession and tax planning seminar on Monday at Obsolete Brewing.
It will begin at 5 pm, and you are asked to pre-register by contacting Sherrie at 204-622-4551.
