STtalks #379 - From Legacy to Future: Transition Planning for Farm Families with Rena Striegel

“Let’s not lose any more family farms to lack of planning!” strongly states our next guest, Rena Striegel of @‌Transition Point Business Advisors. Rena joins us to share how farmers can take the initial step into transition planning and helps us understand some of the mindset behind why this business transaction can be so uncomfortable, though essential. We cover a lot of information in this STtalks, from why it’s never too early to begin, and how succession includes cultural, psychological, management, financial, continuity, and estate planning. Rena also outlines who should be involved at different stages, common pitfalls, strategies for tough conversations, and the importance of qualified CPAs, attorneys, bankers, and facilitators.