How to be Prepared for Planning Your Farm Legacy

Elaine Froese

Type: Article
Knowledge level: Introductory

Farm Table says:

Elaine Froese is a very respected and experienced succession planning expert from the United States.

Elaine goes through some practical approaches to get everyone talking in the succession conversation. She notes that one of the most common question she receives is:

 “Elaine, how do we even get people to the table to talk about the farm legacy? My parents are refusing to talk, and my grandparents are even more stubborn!”

Elaine walks through 9 questions farmers need to ask themselves when planning their farm legacy and succession.

  1. What Do You Want?
  2. Where Are You Going to Live?
  3. How Are You Going to Service Debt?
  4. What Will Your Roles be as the Farm Grows?
  5. What do We Tell the Non-Farm Heirs to Help Them Understand That They Aren’t Getting a Raw Deal?
  6. How Do We Protect Our Hard Earned Wealth From Spousal Breakup?
  7. Download the Farm Family Toolkit
  8. Talk to Yourself About All of the Points Above
  9. Build a Binder to Organize All of the Vital Plans
2019 - United States - Elaine Froese
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