Rank each according to importance and priority.
(1- low, 5-high)
_____ 1. To make the transition to new ownership/management transparent to our customers.
_____ 2. To help develop the skills /abilities necessary for leadership.
_____ 3. To enhance the leadership skills/abilities.
_____ 4. To increase management capabilities.
_____ 5. To maximize business value.
_____ 6. To continue receiving an income following transition.
_____ 7. To maximize returns of income, equity, and satisfaction.
_____ 8. To transition to new management in years.
_____ 9. To transition management control to:________________.
_____ 10. In case of premature death or disability, ______________ should continue to run the operation until _____________ is ready to assume the role.
_____ 11.Other: (please note)
_____ 1. To maintain family ownership of the farm/agribusiness.
_____ 2. To transfer ownership within years.
_____ 3. To ensure that loyal employees are offered an opportunity for continued employment and/or the opportunity of an ownership interest.
_____ 4. If a partnership, to acquire other interests if/when available.
_____ 5. To divide the operation into separate units to allow for multiple owners.
_____ 6. To minimize income tax due to ownership transition.
_____ 7. To receive fair market value for ownership interest, if sold.
_____ 8. To reduce exposure to business liabilities.
_____ 9. To transition with a minimum of gift or estate tax obligation.
_____ 10.Other: (please note)
Wealth Management (1-low, 5-high)
_____ 1. To learn good money management skills.
_____ 2. To develop an investment program.
_____ 3. To diversify financial resources outside of business.
_____ 4. To protect assets through contingency planning.
_____ 5. To provide support for a parent, disabled child, or any other person in the future.
_____ 6. To leave a meaningful legacy to a charitable organization.
_____ 7. Other: (please note)
Retirement Option Design
_____ 1. To accumulate an investment portfolio that I cannot outgrow.
_____ 2. To retire by/on .
_____ 3. To move on to the next venture in my vocational life by .
_____ 4. To provide an income of $ adjusted for inflation.
_____ 5. Other: (please note)
Efficient Estate Distribution
_____ 1. To maintain the family’s financial security.
_____ 2. To maintain the integrity of the farm / business operation.
_____ 3. To provide for the special needs of: .
_____ 4. To efficiently pass the assets of my estate.
_____ 5. To minimize estate tax and transfer obligations.
_____ 6. To contribute to charitable bequest.
_____ 7. Other: (please note)
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