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.
March 4, 2014
Is there a 'best time', an ideal moment to work on a legacy plan? There's usually so much to do on the farm that the answer may seem to be "not now"! Most of us feel that a legacy plan for the farm is important, but typically it isn't an urgent to-do. Ben Metzger, Director with Water Street Solutions, answers this question with Dewey Nelson of KRVN. The Best Time to Do Legacy Planning Metzger AUDIO
February 19, 2014
Short term and long term plans for the farm work together, says President and CEO of Water Street Solutions Darren Frye in his Finance First column on FarmFutures.com this week. Find out how the financial health of your farm affects your farm's long-term legacy. Read his blog post.
February 12, 2014
Is planning for the future a priority on your farm? Creating plans for what's going to happen to the farm - and how leadership on the farm will continue - in the future isn't usually urgent, but is certainly important.
In his weekly Finance First post on FarmFutures.com, Darren Frye, President and CEO of Water Street Solutions writes about what each generation on the farm can do to help ensure plans are in place for the future. Read his blog post.
February 4, 2014
The numbers are growing and the decisions are getting bigger. It's getting more important to take off the 'farmer hat' and put on the 'business hat' when you're making financial decisions for your farm, says Water Street Solutions Field Representative Andy Hoerr. He explains why here with KRVN's Dewey Nelson. Wear the Business Hat for Your Farm's Finances Hoerr AUDIO
January 29, 2014
If your farm is dynamic - growing and changing - it can be a great move to start getting the next generation of leaders on your farm involved in helping make some of the decisions. That's going to help with a smooth transition to the next generation.
Ben Metzger, Director of Legacy Planning with Water Street Solutions, talks with Dewey Nelson from KRVN about how to start getting the next generation involved in decision-making and shares some techniques for getting started. Getting the Next Generation Involved in Decision-Making Metzger AUDIO