Are you certain you've taken all the steps necessary to ensure your farm will prosper in the next generation? Have you communicated well with all of the stakeholders? At Water Street Solutions, our goal is to eliminate the uncertainty you are likely feeling about this. We strive to provide you with the confidence that your hard work will transfer smoothly to the next generation. We walk clients through our phased approach which allows them the opportunity to know that each area of planning has been addressed.
Legacy planning is important, but perhaps not urgent, so it gets pushed to the future. Often we just don't know where to start with a big project like this. Very few families have a complete estate and transition plan. Many have a few pieces completed - like wills, trusts, and life insurance policies. Sometimes the challenge is that no one in the family is coming back to the farm. Are you confident that your current plan would serve you well?
Water Street Solutions is a neutral third party to help guide the discussions forward, understanding the true wants and needs of every family member and crafting a plan to address them.
April 16, 2014
Fast forward to your farming operation in the future - think 10 or 20 years from now. What does the operation look like? Who is involved? And what are they doing?
Figuring out what your farm will need in the future is the first step to make plans for how to get there - and how the next generation will be involved. Jason Ladman, Director with Water Street Solutions, talks about what that could look like. He talks here with farm broadcaster Dewey Nelson of KRVN. Future Needs of the Farm Drive Transition Plan Ladman AUDIO
April 15, 2014
The financial decisions in ag are getting bigger and bigger - but is the next generation on your farm taking opportunities to start working on these decision-making skills now? How can the next generation get involved in learning and practicing farm management skills?
In his weekly Finance First post on FarmFutures.com, Darren Frye, President and CEO of Water Street Solutions, writes about how farm families can start getting the next generation ready to run the farm. Read his blog post.
April 9, 2014
It's a very exciting time when a family member is coming back to work on the farm. They can bring a fresh perspective and energy. But it can also be a confusing time for both the new employee and for everyone else on the farm unless roles and expectations are clarified.
In this interview, Ben Metzger, Director of Legacy Planning, talks about how families can help make sure that new family member employees have the best transition into the operation. He talks here with Dewey Nelson of KRVN. Figure Out the Next Generation's 'Fit' on the Farm Metzger AUDIO
April 1, 2014
There are a lot of good things about working with your family members, but there can also be a lot of unnecessary risk involved if you fail to run the farm as a business. Families that choose to put 'business first' honor the family members while running the operation in a businesslike way. Director Ben Metzger talks here with Dewey Nelson of KRVN about what these families are doing very well. The Business-First Farm Family Metzger AUDIO
March 31, 2014
How does the future of your farm match up with the hopes and interests of the next generation? What do you need to know now so you can plan for the best farm transition possible?
In his weekly Finance First post, Darren Frye, President and CEO of Water Street Solutions, writes about how the farm's future can be greatly affected by what it will need for the next generation's success. Read his blog post.