255 | Family Farm Transition Strategies with Will McKinley
In this live episode from Wisconsin Farm Technology Days, Will McKinley of Men Law Firm delves into the legal intricacies of managing and transitioning family dairy farms.
From partnership structures to succession planning, Will shares essential strategies for ensuring the longevity and success of dairy operations. He also highlights common challenges, such as finding interested successors and managing financial transitions, while sharing examples of creative solutions for keeping family farms thriving.
This conversation emphasizes the importance of clear planning, family discussions, and understanding legal tools like revocable and irrevocable trusts. Tune in for expert advice and practical insights on upleveling your dairy.
Contact Will McKinley at Menn Law:
William-McKinley@mennlaw.com
(920) 731-6631
https://mennlaw.com/
Do you have a question on succession and farm transition you would like to hear Will answer on the Uplevel Dairy Podcast?
Send your questions to peggy@upleveldairy.com
00:00 Introduction: The Legal Side of Family Dairy Farms
01:44 Meet Will McKinley: From Corn Country to Ag Law
04:28 Challenges in Farm Succession Planning
15:27 The Importance of Trusts in Farm Transition
23:05 Fair vs. Equal: Navigating Family Dynamics
28:28 Creative Solutions for Farms Without Successors
38:33 Conclusion: The Value of Family Farms
