When it comes to setting up a plan for the future of their farm, a lot of people get uncomfortable. That's an understandable reaction because, yes, there are a lot of moving pieces involved. Legacy planning is not a simple, one-step undertaking. It's a complicated tangle of retirement, transition, deciding how to involve the next generation, tax planning, and more -- topped off with a healthy portion of uncertainty. In short, it can be overwhelming and scary if you're not prepared.
The best way to battle that feeling is to take action now to learn more and begin building a plan. If your plan is to wait until you feel like you're 100% sure of all the answers before you get moving, that day will never come...and you'll leave the younger generation completely unprepared when the time comes to hand over the reins.
Water Street Solutions Director Jason Ladman explains how taking the time now to start communicating openly and building your legacy plan will bring peace of mind to both the younger and older generations on your farm.