From part two of our four-part ranch succession-planning series. “Almost everyone I work with in agriculture fights formality, and by that, I mean defining a job description,” Dave Specht, founder of Advising Generations LLC, says. “Most family-business stakeholders have a ‘do whatever it takes to get the job done’ type work ethic because their operation depends on it. While that attitude is essential, it isn’t concrete enough to provide the structure needed.”
From part two of our four-part ranch succession-planning series. Put yourself in this scenario: The phone rings. On the line is a job offer and the pitch goes like this: “Hi, we have a job available. There is plenty of work to be done, but we don’t exactly know where you’ll fit in yet. We might be able to give you some vacation time, but it is going to depend on a lot of factors. You’ll get paid, but we’ll figure that out when you get here. One last thing — we’re going to need you to put in a lot of overtime.”
Daunting is one way to describe estate planning, said Heather Gessner, SDSU Extension Livestock Business Management Field Specialist. "This is one reason farm families have avoided implementing a plan for their farms and families," said Gessner.