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October 2011 Archive for Legacy Planner

RSS By: Josh Sylvester, Legacy Project

Through years of working with high net worth farm families, Josh has refined strategies to help owners achieve their succession goals.  As a Principal in Legacy by Design, Josh is dedicated to providing highly personalized succession solutions for farmers, ranchers, and agribusiness owners.  He is instrumental in furthering Legacy by Design's growth, by serving as a trainer and liaison for Legacy Certified Advisors(tm) throughout the U.S.

"But I don't want to generate conflict."

Oct 14, 2011

Fence   NRCSMany farmers hesitate to begin succession planning or to share their planning ideas with the family, because they want to avoid conflict. However, a certain level of disagreement is normal and to be expected. Conflict does not necessarily mean that a family is dysfunctional. To the contrary, working through a manageable level of conflict, which allows all parties to make their ideas and wishes known, is often healthier for a family than never bringing up areas that may be potential sources of discord.

One step in managing conflict is to schedule a family meeting and let every family member be heard and acknowledged. Farmers sometimes fear this because it may feel like they are giving up control. They must understand, however, that the ultimate decisions are still in their own hands. Letting everyone voice opinions and suggestions also may contribute to acceptance of the plan, provided family members believe the farm owner genuinely listened to and considered their ideas.
An excellent avenue for getting input from family members is to schedule a family meeting utilizing our communication tools on the Legacy Project website. If you feel you need a trained facilitator to assist you, please contact us to be put in touch with a Legacy Certified Advisor™.

 

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