One of the key fears of aging farm founders is the conflict they anticipate when the farming heir has access to millions of dollars of land and the siblings who are off to other careers do not have the same net worth opportunity in their future. Or do they?

It is time to stop guessing what everyone thinks, feels, wants and needs. Explore what stories your grandparents, parents and siblings are telling themselves about the future and transition of wealth on your farm. Ask Grandpa or Mom, “I’m just curious, what is the story you are telling yourself? Is this a scarcity mindset issue? How much is enough? Would you ask for the help of a financial planner to give you more financial security and certainty for your income streams as you age in place on this farm?”

If you or someone in your farm family is getting married soon or considering marriage in the future, having the prenuptial conversation can be helpful in providing peace of mind and legal protection if the marriage does not go as planned later down the road.

Do you have a clear picture of who you are and how you lead on your farm and in your family?

Imaginez la situation. Vous vous levez un matin, le cœur léger, fébrile à l’idée de conclure la transaction qui va changer votre vie. 

If the story you tell yourself suggests it’s nobody’s business how you spend your money, ask yourself how you got there and why it has to be like that. I hope you would agree with me that the emotional factors around money affect the farm transition process.

Decide today that you are going to become more self-aware and self-controlled around the way you communicate to your farm team. I strongly believe good communication is the foundation of successful farms. Talking and listening well is the ultimate risk management tool.

Your body is not a machine. You are not serving yourself or others well by being a workaholic. When are you going to pay attention to your physical, emotional and mental needs, and those of your spouse and family?

Imagine this is the day you hop out of bed with a spring in your step, anticipating the life-changing transaction taking place this afternoon.