What’s the most difficult part of farming? Equipment malfunctions? Weather events? Injury or illness?
The truth is that in many families, succession planning is the biggest challenge of all.
For some, discussing the farm changing hands is taboo. In others, merely broaching the subject incites conflict. Still others find that they just never get around to those talks they need to have.
Protecting Your Legacy
Succession planning is absolutely essential if a family wants to keep the farm in the family. At Encore, we provide assistance including planning, respectful communication, family dynamics and more.
Our goal is to help set up the next generation for success while still respecting the elder generation’s preferences. It’s about finding a balance—and that’s where we excel.
Viewing a farm as a business helps remove some of the sentimentality and sharpens the focus on the nuts and bolts of the transition process. We help through:
- Clarifying roles
- Facilitating effective communication
- Resolving conflict
- Navigating the complexities of shared assets
- Next generation leadership development
- Establishing goals, values, guidelines, governance and accountability
- Creating timelines
- Coordinating advisors such as CPA’s and attorneys
Our goal is to help you create and execute a succession plan. And we’re only finished when your family has passed on your farm and feels proud of your accomplishments.