![\"Graphic](\"http:\/\/www.uwagec.org\/aglegacy\/wp-content\/uploads\/2023\/11\/2023_11_14_WhatIsYourMgtSuccnPlan_how_FCBK.png\")
\n#AGLEGACY #FarmSuccession #EstatePlanning<\/p>\n
\n#AGLEGACY #FarmSuccession #EstatePlanning<\/p>\n
TO LEARN MORE see: AGLEGACY.org Formalized Succession Plan Succession Plan Components Strategic Plan Written Plan Segments #AGLEGACY #FarmSuccession #EstatePlanning Most farmers and ranchers realize that a solid estate plan involves outside professionals. But how do we address day-to-day management when the time comes? TO LEARN MORE see: AGLEGACY.org<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"sfsi_plus_gutenberg_text_before_share":"","sfsi_plus_gutenberg_show_text_before_share":"","sfsi_plus_gutenberg_icon_type":"","sfsi_plus_gutenberg_icon_alignemt":"","sfsi_plus_gutenburg_max_per_row":"","footnotes":""},"categories":[16],"tags":[],"class_list":["post-2498","post","type-post","status-publish","format-standard","hentry","category-post"],"_links":{"self":[{"href":"https:\/\/www.uwagec.org\/aglegacy\/wp-json\/wp\/v2\/posts\/2498","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.uwagec.org\/aglegacy\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.uwagec.org\/aglegacy\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.uwagec.org\/aglegacy\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.uwagec.org\/aglegacy\/wp-json\/wp\/v2\/comments?post=2498"}],"version-history":[{"count":1,"href":"https:\/\/www.uwagec.org\/aglegacy\/wp-json\/wp\/v2\/posts\/2498\/revisions"}],"predecessor-version":[{"id":2499,"href":"https:\/\/www.uwagec.org\/aglegacy\/wp-json\/wp\/v2\/posts\/2498\/revisions\/2499"}],"wp:attachment":[{"href":"https:\/\/www.uwagec.org\/aglegacy\/wp-json\/wp\/v2\/media?parent=2498"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.uwagec.org\/aglegacy\/wp-json\/wp\/v2\/categories?post=2498"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.uwagec.org\/aglegacy\/wp-json\/wp\/v2\/tags?post=2498"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nMost farmers and ranchers realize that a solid estate plan involves outside professionals. But how do we address day-to-day management when the time comes?<\/p>\n
\n<\/strong>
\n<\/p>\n
\nWhere Do We Begin?
\nOne way to begin the process of transitioning is to start with three, basic questions, including: \u201cWhere are we?\u201d, \u201cWhere do we want to go?\u201d, and \u201cHow do we get there from here?\u201d<\/p>\n
\nFollowing a formalized plan can help ensure that critical steps are not overlooked.<\/p>\n
\nThe seven components of a complete plan include: 1. Executive Summary, 2. Business Overview, 3. Strategic Plan, 4. Retirement Plan, 5. Succession Planning Process, 6. Financial Plan, and 7. Contingency Plan.<\/p>\n
\nA solid strategic plan will address: 1. Values, 2. Vision Statement, 3. Mission statement, 4. SWOB analysis, 5. Strategic goals, 6. Implementation plan, and 7. Monitoring plan.<\/p>\n
\nThe written plan can be broken into seven components: 1. Establish a timeline, 2. Establish a planning team, 3. Select the appropriate successor(s), 4. Develop a written plan, 5. Communicate the plan, 6. Plan for retirement, and 7. Enjoy the years ahead.<\/p>\n","protected":false},"excerpt":{"rendered":"