334 | Protect the Farm—and the Family: The Legal Reality of Farm Transition with Will McKinley
Transition Talks from the Farm Forward Conference
This Farm Forward Recap episode of the Uplevel Dairy Podcast features attorney Will McKinley, President of Menn Law, discussing the legal side of family farm transition planning. McKinley emphasizes that communication is critical and that lawyers can’t prescribe one-size-fits-all solutions; families need to clarify and align their goals before legal documents are drafted. He explains what he hopes clients bring to the table—financial records plus a shared “wish list” vision—and shares a success story involving bringing a non-family herdsman into ownership while keeping spouses, bankers, and accountants aligned.
He outlines tools often used (wills, revocable and irrevocable trusts, entity structures) and notes tax challenges with lifetime sales, sometimes using an income-stream approach until a later trigger. He warns that the biggest obstacle is delaying the process and failing to commit time for a multi-meeting plan.
Contact Will McKinley at Menn Law:
William-McKinley@mennlaw.com
(920) 731-6631
https://mennlaw.com/
00:55 Meet Will McKinley
01:37 Communication Comes First
04:57 What to Bring Your Lawyer
07:49 Succession Success Story
10:39 Legal Tools and Tax Strategy
13:38 Where Plans Get Stuck
