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Leave a Legacy

RSS By: Kevin Spafford, Legacy Project

Kevin Spafford is Farm Journal’s succession planning expert for the Farm Journal Legacy Project.  He hosts the nationally-televised ‘Leave a Legacy’ TV, facilitates an ongoing series of workshops for farm families across the U.S., and is the author of Legacy by Design: Succession Planning for Agribusiness Owners.

Not Sharing Cares, Concerns and Considerations

Aug 12, 2008
Continuing our look at the 12 most common mistakes that agribusiness owners repeat...

(Click here to review previous related posts.)
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In most families, there is a near-superstitious taboo about discussing personal, private, adult or parental matters.  Kids are taught that it is impolite to ask parents or elders certain delicate questions.  They're not supposed to ask about income or financial issues related to business.  In these families, questions about inheritance or plans regarding estate distributions may be considered disrespectful and inappropriate.

Just to make it perfectly clear, I don't condone meddling in the affairs of others.
  But I do believe that adult children, working in and dependent on the family business, have a right to know. >>
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COMMENTS (1 Comments)

Anonymous
I agree wholeheartedly. We've been there.My grandfather told my Dad and Uncles to let the boys know business issues early on.They did so,but not as fast as we thought it should have been.We are third generation.
6:33 AM Aug 15th
 

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