Business Owners, Farmers and Ranchers are great at planning for the seasons of the year but often fail to plan for the seasons of their lives.
Transition of a Business, Farm or Ranch to the next generation requires planning so that the transfer meets everyone’s expectations and goals. An Estate Plan with a Trust and Will is an essential part of this planning.
Development of a plan with family involvement is important to insure that a family farm or ranch passes to the next generation. Failure to establish a plan may create a situation that causes the continued operation to fail. This may be disappointing to the participating family members.
In order for a successful transition to work it is important to have businesslike family meetings. The following agenda developed by AgWeb.Com is an excellent source: Family Agenda
Part of developing a successful family plan is to know the visions and goals of the stakeholders. Individual Vision Form
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