You have a well earned sense of pride in this farming operation you've worked so hard all your life to build up. You feel good about the legacy you're leaving to the next generation and the idea that it can carry on long after your retirement. But you've probably got some reservations and anxiety around that whole transition process and whether or not the next generation is fully equipped to handle today's (and tomorrow's) complex farming operation. Likewise, the younger generation is likely nervous or feeling ill-prepared to take the reins when the time comes.
Jason Ladman shares the story of a farm family going through just such anxiety and how they set up an intentional program of training to prepare two brothers in their mid-30's to take over the operation, including determining where their strengths and weaknesses lay and how to shore those up, and laying out a transition timeline that worked for everyone.
It's a process of preparation that shouldn't be put off, but started today. If it seems too daunting, seek out a specialist who focuses on legacy and transition planning to help you get the ball rolling. It's just one of the lines of service we tackle at Water Street Solutions. More information can be found on our Legacy Planning page.