One of the most foundational things we need to consider in farming is the risk of the key person involved in the business. By taking out insurance, we can help mitigate that risk.
I’m often asked this question when discussing retirement and estate planning with a client, and it’s a difficult question to answer.
Thats why I often turn the question right on its head and ask a question of my own.
When going to your accountant or your lawyer, you must have done the homework yourselves. You must have got together as a family and had those discussions, talked things through, and thought about the future.
Farm transition and estate planning can be complex and confronting, but it doesn’t have to be. This month we are focusing on Estate Planning, and I wanted to share this story with about a fifth generation farming family I am currently working with.
One question that I get asked a lot is about how to avoid Succession Planning disaster.
I’ve seen a few disasters in my time, and it’s unfortunate.
Often, it’s those situations where family members are no longer talking.
Today I want to talk to you about the tools that help me have better meetings with my clients.
These tools can also be used in our everyday life, whether we’re having discussions with our clients, family members, friends, or our team.