No one should say that it is a sign of weakness to seek help.

AG LEGACY can help…
Check the AG LEGACY Materials tab at AGLEGACY.org

IN FACT, the opposite is true. It takes incredible strength. To disregard or overcome the pride that blocks you from reaching out is a tremendous act of will. It may take all the willpower you can summon!

The seven-step Succession Planning Process defines not only how to begin, but also important actions to take throughout the entire transition.

To learn more see AGLEGACY.org

PASSING A BUSINESS from one generation to the next involves transferring both ownership and management of the business from one individual to another. Transferring ownership of the family business assets can be fraught with emotional land mines and the possibility of damaged relationships.

The seven-step Succession Planning Process defines not only how to begin, but also important actions to take throughout the entire transition. Steps include: Establish a Timeline, Establish a Planning Team, Select a Successor, Develop a Written Plan, Communicate the Plan, Plan for Retirement, and Enjoy the Future.

Making NO PLANS or choosing to avoid the issues involved almost always leads to disastrous results.

To learn more see AGLEGACY.org

View a free recording on starting to plan for the succession of your family business…before it’s too late.

How are you mentoring the next generation?

Mentoring is a relationship in which a more experienced or knowledgeable person guides a less experienced or less knowledgeable person through an activity or event in their life. While the mentor can be older or younger than the mentee, they must have a specific expertise which qualifies them.

This approach is similar to coaching but in coaching the goals and the plan of action are often set by the coach. In a mentoring relationship, the mentee sets the goals and formulates the plan under the guidance of the mentor. For the most part, we don’t even consider this more formal method of instruction as necessary in a family business. Often the kids grow up helping and working in the farm or ranch business. It is assumed that they will pick-up the skills necessary to help with the daily crop or livestock operations; even learn how to operate the business.
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#AGLEGACY.org #FarmSuccession #EstatePlanning

A legacy is the summation of a lifetime of achievement and the context in which that lifetime will be remembered. A legacy is not just money but a reputation, what was accomplished, and the difference a person makes in the world as they pass through.

IT IS COMMON to have the feeling of being left out. Whether it’s feeling left out of a conversation, an important decision, or eating alone.

There are times that you or others feel left out of decisions and activities in the family business and, consequently, the family’s Ag Legacy.

VALIDATION
How do families break the stigma that often exists around discussing and expressing emotions? How can families be more encouraging and supportive when family members struggle with emotions, such as feeling left out?
Communicating acceptance: You show others that you care about and accept them
Strengthening relationships: People who show each other acceptance are able to feel more connected and build stronger relationships.
Showing value: You reveal to others that they are important to you when you validate their emotions.
Better emotional regulation: It can help reduce the intensity of strong emotions when people feel that others hear and understand them.

FIVE components of a true legacy: values and lessons, personal possessions, final wishes, ownership of assets, and management succession.

See: AGLEGACY.org

DO YOUR LEGACY PLANS address all five components of a true legacy: values and life lessons, personal possessions of emotional value, fulfilling final wishes and instructions, ownership of financial assets and real estate, and management succession?

HAVE you drafted your Advance Directives to explicitly describe your wishes for care near the end, including: medical/health care directives, living wills, powers of attorney, wills, or estate plans?

A Legacy can be complicated by interpersonal issues that arise during the transition process.

AGLEGACY.org offers a perspective.

We can all think of challenges we’ve faced in our interactions with others, whether family members, coworkers, or friends. A Legacy can be complicated by interpersonal issues that arise during the transition process. While the founding generation has a ­vision they have been working towards for many years, the younger or incoming generation has thoughts, ideas, and goals as well. This can lead to disagreements, often complicating the transition process.

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A power of attorney is a document that gives another person the authority to take some action on the signer’s behalf.

AG LEGACY can help…
Check the AG LEGACY Materials tab at AGLEGACY.org

A power of attorney is a document that gives another person the authority to take some action on the signer’s behalf. Unlike a common law power of attorney, a Durable Power of Attorney does not terminate when the principal becomes incompetent, hence the addition of the word “durable.”

A breakdown in the peace of a family isn’t typically due to just one person’s actions.

See more at: AGLEGACY.org