Knowledge is Power – Eliminating Fear and Anxiety in the Farm Succession Process

We just finished our fall workshops on estate and succession planning for farmers and ranchers.  I was amazed again at the great response.  People have real desire to learn how best to deal with the issues involved in transitioning a family farm or ranch to the next generation.  My hope is always that people leave our workshops feeling empowered; that they feel like there is a way through what may seem an insurmountable challenge.  Each family is unique and requires unique planning, but there are certain truths that exist in every case.  There are four basic areas that need to be addressed:

  1. Business Planning,
  2. Retirement Planning (which includes long term care planning),
  3. Succession Planning, and
  4. Estate Planning.

At Hallock & Hallock as we move with you through our defined process we are able to develop a strategy that will work for your unique situation.Often the reason for fear and anxiety is a lack of knowledge.  One of the best ways to begin your quest for knowledge in this area is to join with others in a group learning environment.  That is one of the reasons we enjoy putting on our workshops.  We see that light go on for families and the fear starts to leave.  We will be having another series of workshops starting in January and hope more will join us.  You should also consider attending the two-day workshop in December put on by Utah State University Extension in St. George.  That event will take place on December 5th and 6th.  For more information about the USU workshop you can click here.  We hope to see you soon.