Agriculture Commons^™

Things To Consider Before Co-Signing A Loan, J. David Aiken

Cornhusker Economics

In the context of family farms, includes some general points to consider before you sign a loan guarantee for a family member who is heavily in debt.

Conclusion: Having to consider whether to co-sign a child's loan is a very difficult situation-no one wants to be part of losing part of the family farm or ranch to loan foreclosure. But if the loan guarantee isn't part of a financial turnaround plan that has at least a fighting chance of success, don't sign the guarantee unless you absolutely don't need the money for your own retirement.

Importance Of Good Communications For Generational Ag Business Transfers, Allan Vyhnalek

Cornhusker Economics

Adapted from Right Risk, volume 10, Issue 10, October 2022.

Effective communication within a farm or ranch family, especially when multiple generations are operating and managing the business, is the underpinning of all other decisions made in a family business. It is critical that farm and ranch families identify areas of contention and develop communication skills that will allow them to negotiate satisfying outcomes. This may involve basic skills training, including communication, problem solving, and decision making.

Disagreements And Proper Respect In Farm/Ranch Succession, Allan Vyhnalek

Cornhusker Economics

Adapted from "Does Disrespect Have a Place in Your Ag Legacy?" Volume 6, Issue 1, February 2021, Ag Legacy, by Caleb Carter, consultant to the Department of Agricultural and Applied Economics in the University of Wyoming College of Agriculture and Natural Resources.

Briefly covers disagreements and proper respect in farm/ranch succession.

Who Owns This? Ways That Property Can Be Owned And Transferred In Nebraska, Jessica Groskopf, J. David Aiken

Cornhusker Economics

Discusses ways that property can be owned and transferred in Nebraska in the context of farm management in Nebraska, United States.