Attorneys Attend Farm Succession Workshop

On February 23, Attorneys Karen Hackman and Rob Davidson of RHP Law Group attended a presentation by Dick Wittman, a nationally known consultant and educator, on transitioning family farms to the next generation and the importance of putting professional family business governance into practice.  Among the highlights was a presentation of the “Three Stages of Family Business”: Owner-Managed, Sibling Partnership and Cousin Collaboration.  One major takeaway was that less than 10% of family businesses make it to the third generation.  The attendees participated in a case study where they looked at establishing structured business governance into the existing roles of family farm management.  This program was sponsored by AgChoice Farm Credit and was part of their annual Ag Forum. Meeting the needs of farm families and agri-business is a focused area of practice here at the RHP Law Group.