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Passing a business from one generation to the next involves transferring both ownership and management of the business from one individual to another. Transferring ownership of the family business assets can be fraught with emotional land mines and the possibility of damaged relationships.

The seven-step Succession Planning Process defines not only how to begin, but also important actions to take throughout the entire transition. Steps include: Establish a Timeline, Establish a Planning Team, Select a Successor, Develop a Written Plan, Communicate the Plan, Plan for Retirement, and Enjoy the Future.

TO LEARN MORE about management succession planning see: AGLEGACY.org

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AG LEGACY Materials can help…
To learn more about AG LEGACY materials and for ideas on where to begin see AGLEGACY.org

#AGLEGACY.org #FarmSuccession #EstatePlanning

Are you struggling to define your own legacy? Is your family wondering where to begin the process of succession of the family farm or ranch? Are you struggling to convey the values and lessons learned in a life spent working on the family operation?

Begin by defining your own Ag Legacy!
Define your own values and life lessons by identifying family traditions, family history, and the beliefs that contribute to your core values. These will guide your decisions day to day. You can then begin the process of preserving and passing on your legacy. We all want to be remembered. By leaving a legacy, the values and life lessons from the past will be passed on and can act as a guide for future generations.

#AGLEGACY.org #FarmSuccession
AG LEGACY Materials can help…
To learn more about AG LEGACY materials and for ideas on where to begin see AGLEGACY.org

#AGLEGACY.org #FarmSuccession #EstatePlanning

View a free recording about values and life lessons and other important topics
…before time runs out!

TO LEARN MORE To learn more
about values and life lessons, what really matters most, and for ideas on where to begin see: AGLEGACY.org

#AGLEGACY.org #FarmSuccession
AG LEGACY Materials can help…
To learn more about AG LEGACY materials and for ideas on where to begin see AGLEGACY.org

#AGLEGACY.org #FarmSuccession #EstatePlanning

Values and life lessons has been identified as the most important component of a complete legacy. This is made up of 3 separate components, including Family Traditions, Family History and Beliefs.

Family traditions consist of religious, cultural and as well as family traditions handed down through generations. Traditions can help families improve communication, learn to value time spent together and celebrate each other’s achievements. All of which can help families get through tough times and changes.

Family histories may not include anyone famous, or infamous. However, they are of great value to the family, no matter what the tale. Many great stories can be found or shared that can bring a family’s history to life. Look for ways to preserve your own and your family’s history through books, audio or video recordings, etc.

Beliefs: A person’s beliefs are very important because those beliefs define the limit of that person’s experience. A person’s belief system is the set of precepts by which they live daily life and that govern their thoughts, words, and actions.

Taken together these create a person’s legacy. When a family identifies these for each other and themselves, they begin to define their own legacy. This legacy can live on and serve as inspiration and guidance for future generations.

#AGLEGACY.org #FarmSuccession
AG LEGACY Materials can help…
To learn more about AG LEGACY materials and for ideas on where to begin see AGLEGACY.org

#AGLEGACY.org #FarmSuccession #EstatePlanning

We all feel slighted when we’re not given the respect we feel we deserve. On the other hand, willingly subjecting yourself to disrespect can cause plenty of problems, such as poor self esteem and create an anger-bomb. It is even more difficult when it is a family member sending you the negativity.

We can choose to help diffuse a situation or make it worse. We can work to stay in control and help break the cycle.

First, don’t personalize the negativity. While the other person may try to make it all about you, remember, it’s about them.

Sometimes simply ignoring the comments can be an effective strategy. Avoid dropping to their level or engaging in their negativity.

Other times you may need to engage a person who is acting disrespectful; you need a strategy to keep yourself from being sucked into the negativity. For help, see the AGLEGACY Newsletter “Does Disrespect Have A Place in Your Ag legacy?”

AG LEGACY Materials can help…
To learn more about AG LEGACY materials and for ideas on where to begin see AGLEGACY.org