* What are the goals of other family members involved?
* Have you conducted a skill inventory for everyone with an interest?
* What are the goals of the founding generation for their retirement? How will they be met?
* Are there options to allow the incoming generation to gain management experience through smaller projects? Learn from their success/failure?
* Has the incoming generation been introduced to other mentors in the industry? Your mentors or guides?

FOR ANSWERS:
to these questions and much more see our recent newsletter and online module covering: When Do You Transfer Management Skills for the Operation? at AGLEGACY.org

#AGLEGACY.org #FarmSuccession #EstatePlanning

#AGLEGACY.org #FarmSuccession #EstatePlanning
Helping agriculture nurture its legacy . . .
A legacy is the summation of a lifetime of achievement and the context in which that lifetime will be remembered. A legacy is not just money but a reputation, what was accomplished, and the difference a person makes in the world as they pass through.

#AGLEGACY.org #FarmSuccession #EstatePlanning
AG LEGACY Materials can help…

View a free recording on starting to plan for the succession of your family business…before it’s too late. See our free recording discussing how to get started on your succession plan at AGLEGACY.org.

#AGLEGACY.org #FarmSuccession #EstatePlanning

HINDRANCES: Emotional attachment to land; No plans to retire; Ranching/Farming lifestyle; No retirement income
PERSPECTIVES: Proprietors; Conductors; Technicians
THE NEXT GENERATION: Sons / Daughters; In-Laws; Multi-family business; Non-family members
OTHER REASONS: Business issues and Succession planning issues

#AGLEGACY.org #FarmSuccession #EstatePlanning

Are there control issues, fears of giving something up, or an inability to choose?

Are there emotional attachments, no plans for retirement, or farming lifestyle issues?

Does the founding generation have a proprietor, conductor, or technician perspective on the business?

What are the relationships of the next generation with the founders? Are they sons, daughters, in-laws, or non-family members?

Are there other business issues or succession planning issues that must be addressed to allow the planning process to proceed?

#AGLEGACY.org #FarmSuccession #EstatePlanning

#AGLEGACY.org #FarmSuccession #EstatePlanning
AG LEGACY Materials can help…
To learn more about AG LEGACY materials and for ideas on where to begin see AGLEGACY.org

ADDRESSING FAMILY STRESS:
Culture of open communication
Allow sharing of ideas openly
Everyone wants to feel their opinions are heard and matter
Family meetings
Family business meetings

OTHER COPING SKILLS:
Making decisions democratically
Planning ahead for stressors
Reduce blame
More emphasis on “quality family time”

#AGLEGACY.org #FarmSuccession #EstatePlanning

The Why Build Relationships module covers challenges to managing relationships between generations in any family. See our recording outlining the how to build your relationships with next generation at AGLEGACY.org.

#AGLEGACY.org #FarmSuccession #EstatePlanning

* Who will take over as this generation continues to age?
* How we can build relationships between generations now?
* What makes farm and ranch families unique?
* What are the sources of stress among and between generations?
* How do we counter-act the stresses of modern life?
* What can we do to reduce the blaming in our communications?

FOR ANSWERS:
See our recent newsletter and online module materials covering: Why Grow Relationships with the Next Generation?

#AGLEGACY.org #FarmSuccession #EstatePlanning