Legacy (part 2)…….ya Reckon?
 | Author:
Denise White Thompson, Rancher and Columnist
Denise Thompson |
Denise White Thompson
Rancher and Columnist
Leaving a lasting legacy! “The greatest purpose of life is to live it for something that will last longer than you.” (William James)
Perhaps we should all be asking ourselves: How can I pass down something of lasting value to future generations? This is a very important question for the farming and ranching community, ya reckon? It is vital that we help sustain agriculture for future generations, and one key component to doing so is to have those courageous conversations. Unfortunately, as Elaine Froese, the Farm Family Coach out of Canada, has said, “Procrastination about not having these courageous conversations is killing agriculture!”
Jason Meadows interviewed Elaine Froese a few years ago on his podcast, Ag State of Mind. It is certainly worth a listen. Highlights from Part 1 of his podcast were:
* Find harmony through understanding.
* Transition and change do not have to be hard.
* Work to change mindset.
* Have the Really Courageous Conversations. Ask those hard questions: not selfish or greedy to want to talk, learn, understand, be open, and seek change and security.
* Discuss the emotional factors affecting planning.
* Discuss what the parties believe to be true.
* All parties need to approach this from a place of love, respect, and curiosity.
* All parties need to decide to treat one another as a business partner; go at this shoulder to shoulder.
Needs change based on the age of each party. (ie: 40 yr. old’s and older need security, equity, control, ownership; whereas 60-80 yr. old’s and older need stability, assistance, freedom to work or not, and to ensure they are cared for).
Are key parties getting their needs met? Diversify your identity. Relationships matter. Love does not read minds. Strive to have liquidity of personal wealth separate from ranch. Plant hope. No secrets. Need power and control over your own family. Those transitioning must ask themselves: What is going to be my stream of income? Where am I going to live? How will I be fair to successors? Your health is your wealth. None of this matters if the parties can’t enjoy the fruits of their labor. Show appreciation. Want elders to finish strong. Elders need to understand that their older adult children can’t be employees anymore. Change is inevitable; growth is optional!
Elaine Froese, the Farm Family Coach, has a tremendous amount of resources for anyone who desires to leave a lasting legacy and to have those courageous conversations. I wish you well.
For the love of Ag from the heart of a western woman,
Denise Thompson
Article Images
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PhotoCredit: Stephen Simpson Photo, in the Fall of 2024
Image 1 Caption: Barbed wire heart (decorated for Christmas) on a fence line in SW Montana
Stephen Simpson Photo, in the Fall of 2024
