b'TRANSITION PLANNINGFamily Dynamics: Are You Going to Be the Leader of a Healthier Dynamic?AUDIENCE FEEDBACK regarding fairness in farmWhere is it written that its a parents responsibility to transition: keep all their children economically equal? Each heir has Dad passed away four years ago and Im one of fourdifferent needs to be successful. Many farm families have kids, but the only one farming. Everything is plannedalready given economic boosts with education tuition, out, but its difficult to have others (non-farm siblings)trucks and down payments on houses. What you do you quantify the equity that Ive put into the business forowe your children? Discuss this. Ask your non-farm heirs the last 30 plus years along with mom and dad, and forprecisely what they expect in their inheritance. them to understand its not just a simple split four waysParents blocking the transition process is the common anymore. barrier of parents avoiding conflict and choosing ELAINE FROESE,If parents dont want to take responsibility for theto do nothing. Not deciding to act is a decision. Its author, speaker,family dynamics for on farm/off farm family members,procrastination and fear. The responsibility for positive coach, farm partner. Life iswhose responsibility is it?How can we move forward ifchange in making transition decisions lies with all precious. Death isparents block the process? family members. The successor can be the driver of the not to be feared. Visit elainefroese. How can you deal with a father that doesnt want toprocess to hire facilitators, or coaches, to get unstuck. com/shop/ forstart selling land to one farming child at a reduced priceMore farm families are getting ag-informed therapy to communication resources todue to other children not being able to purchase? He sees itdeal with deep-seated anger or frustration to find better get the toughas unfair and is worried about what the other non-farmingways of navigating dynamics with family members who conversations started.child will think hes owed something. dont communicate well or chose to be inflexible with Farm owners are working on a transfer of labour,their thinking. Give younger folks permission to leave a management, and ownership. As parents, you are workingnon-workable dynamic to start a farming venture with on navigating expectations regarding the transfer ofanother family or on their own. Its called Necessary personal wealth. Many folks have little on the personalendings when things dont work out, according to author wealth side of the ledger and are depending on the farmHenry Cloud.solely for income. It takes courage to explore what yourFear of conflict and lack of harmony or getting along farm family successors and your non-farm heirs areis real for folks who dont face the current reality and work thinking and feeling. to create solutions. To get clarity of expectations, you need Families are avoiding hard conversations. First youto come to the table for safe, respectful conversations. need to have a willingness and readiness to do the work. If you cant create this on your own, get professional The farmer who has put 30 years of labour into thefacilitation. You also can only be responsible for your own parents farm would like their widowed mother tochoices and behaviour. quantify the equity they have invested in the business,Marilee Adams, author ofChange Your Questions, sweat equity or delayed compensation. Perhaps writtenChange Your Life has a choice map to choose the learner agreements where the he or she takes a wage for manymindset path, not the judger mindset. Ask yourself:years at lower than market rate, say $50,000 a year when What happened?the going rate was $75,000. The difference of 30 times What do I want for both me and others?25,000 is $750,000 of equity that is not transferred. This What can I learn?is a simplistic example, but if nothing is written downWhat assumptions am I making? (Do you assume and theres no tracking with agreements, then things noteveryone needs to get the same inheritance?)measured cannot be changed easily. What are the facts?Its just not a simple split four ways anymore. Exactly.What are my heirs thinking, feeling and wanting?This mindset of equal isnt workable with high land Am I being responsible?prices and the need to keep the profitable, viable businessWhat is possible? (Financial planners, coaches, intact. Parents personal wealth assets can be allocated toaccountants and lawyers have seen success in the non-farm heirs, or there can be long-term land rentother farm transition, so they can help you explore agreements to the farming child if a non-farm heir ownspossibilities.)farmland. But most farmers dont want to be in business What are my choices?long-term with their non-farm siblings and in-laws. The Whats best to do now?underlying fear is the farm successor cashing out in aAnd heres my closing question, Tell me what fairness few years which can be handled with legal agreements.looks like to you, and what do you need to be successful?48SPUDSMART.COMSpring 2024'