Farm Succession: Operating Agreements

Who can join the farm? And how? What terms are set on compensation if equity and contributions aren't equal? In this episode, our eighth in our Farm Transition Planning series, Purdue ag economists Brady Brewer and Michael Langemeier discuss agreements that are important in a farm business with Purdue Farm Transition team member Ed Farris. They talk operating agreements and common provisions, as well as buy/sell agreements. Find the rest of this series at https://purdue.ag/3lnl6I0 and more information on farm succession planning on the Purdue Institute for Family Business’ YouTube channel.