#AGLEGACY #FarmSuccession #EstatePlanning
Relationships between parents and adult children are “ambivalent relationships,” meaning they contain positive and negative perceptions.
For more information see: AGLEGACY.org
Today, increasing life expectancies mean that family members will spend more time in intergenerational roles requiring negotiation and understanding in dealing with change.
Sensitive issues, such as money, death, and family relations are difficult issues not only to bring up, but also to talk about in any depth. It is hard to approach these issues calmly when there are strong feelings about what is important.
Farm and ranch families face the same trials and difficulties encountered by other families, the difference is that their livelihood, the farm or ranch, is tied into it.
This increases the importance of intentional efforts to address these challenges and maintain good parent/child relationships.
A family may find that it is too late if they wait until it is time to transition the farm or ranch to the next generation. This can add even another source of stress and difficulty to an already challenging process.
