The 1, 2, 3 of Estate Planning
The Farmworker Protection Rule will take effect on June 28th.
With California Ag Today, I am Haylie Shipp. This is the Ag Information Network.
I have been living in the world of estate planning as of late, both tangibly as the generations on my family ranch figure out our process and then professionally as I am in the midst of organizing an estate planning workshop on May 11.
Ahead of that event, I chatted recently with our speaker Jolene Brown about making sure all parts of the equation are accounted for…
“Until I get a senior generation to truly feel worthwhile and financially secure, they will and should not relinquish control.”
Jolene emphasized that when you’re transitioning a farm or ranch to a new generation, it might not be to your biological offspring…
“It does not have to continue with a family member to be a legacy.”
She says it comes down to three parts of the business that need to be transitioned…
“We have to transition the education: this is what we do. The experience: this is how we do it. But with both of hose things transitioning, we always must say, you’ve had a different education. What do we need to learn from you? Or you’ve gained more experiences. You’ve worked away from the ranch. What do we need to gain from you? And the third thing we then transition is the hard assets.”
If you’d like to listen to my full conversation, you can pick it up on the Ranch Stewards Podcast,available on all major platforms. And you’re sure welcome to join me for that workshop, Jolene Brown, “The Positives of Passing It On,” details at RanchStewards.org/events.
