Promises Don't Protect Your Future

Problem: A conversation isn't a contract. It's time to put your farm succession plan in writing.

- By Jolene Brown, CSP, CPAE Professional speaker, author, farmer, and family business consultant. jolenebrown.com

My parents own all the assets of the farm: the land, the machinery, and the livestock. Twelve years ago, they invited me back to the farm to work with them. Since then, I’ve assumed most responsibilities for the grain and cow-calf operations. My parents help with labor at peak times. Dad and I do the marketing together, and Mom does the bookkeeping. There is mutual respect and appreciation.

Because of my role, my parents have been able to take extended vacations, visit my out-of-state siblings, and volunteer at church and in the community. They are healthier, less stressed, and happy.

Me? Well, my stress is building, because I have a lot of assumptions but no assurance. Ideas?

- Submitted by email from W.M.

The Solution:

W.M., you've earned the right to ask: “What's next for you? What's next for me? What's next for the farm?”