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Generational transfer planning is required

Source: Commons Wikimedia

Today we discuss generational transfer of farms and ranches.

The issue is real. It needs to be a topic in every family. Waiting leads to social unrest and possible loss of assets to the government.

Making a will or establishing a trust and succession plan will not hasten your death.

Donnell Brown is a part of the RA Brown Ranch legacy. He has traveled the country speaking to producers about how they can ensure the longevity of their operations using the same thought-processes and strategies his family has done successfully for over a century now. He recently offered to share with us a few of those tips. According to Brown, the best advice he can offer upfront is simply to get started – don’t put off the inevitable – start the process now.

AUDIO: Profit Matters 5-9-19