Legacy (part 6)…….ya Reckon?
 | Author:
Denise Thompson
Denise Thompson |
Denise White Thompson
Rancher and Columnist
Legacy has a painful side, ya reckon? None of us get through this life without experiencing grief, heartache, sorrow and challenges along the way.
A very dear friend of mine reached out to me years ago and requested I be a trustee for her and her husband’s estate. Even though I had little to no experience in this field, she trusted me, knew I would passionately and boldly serve on her behalf, and do all I could to objectively carry out her and her husband’s wishes. Unfortunately, in their later years and following their death, I witnessed first-hand, the devastation of an amazing ranch!! More importantly, I witnessed a family destroyed!! It was CRUSHING!!
Yes, this family had annual business meetings, wills, trusts, financial spreadsheets, and immaculate, detailed records. There was extensive discussion about how the ranch was doing annually, and how it was to be handled after the matriarch and patriarch passed away. Unfortunately, there were some vital elements missing in their succession planning.
Elaine Froese, the Farm Family Coach, has written a number of exceptional books, one of which is, Building Your Farm Legacy…tools to empower better family communication. This book is such a great resource that touches on relationships, communication, teams and operations, planning, succession and healthy habits. Honestly, everyone would benefit from reading this book.
Elaine speaks of the importance of the 3 C’s: Clarity, Certainty, and Commitment to Act. There is tremendous value in all the generations sitting down together and sharing their visions for growth, their needs and wants, and a plan for the business and the individuals. Strive to do the tough things right and remember the old Chinese proverb: “Talk does not cook rice.” Act NOW and set dates.
I encourage you to empower yourself and your family by registering today for the FREE workshop, Finding Fairness In Farm Transition, on March 1st from 9:30 to 3:30 at the 4-H Building. Reach out to Broadwater Conservation District (406-521-3014) (website: broadwatercd.org) to register or go to eventbrite.com and search the name of the workshop and reserve your spot. Also, don’t forget to purchase your tickets from BCD, FFA members or at Rocky Mountain Supply for the Annual Ag Appreciation Dinner at the Watson Event Center, held that same evening.
For the Love of Ag, From the Heart of a Western Woman.
Denise Thompson
Article Images
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PhotoCredit: Photo Credits: Stephen Simpson
Image 1 Caption: The greatest purpose of life is to live it for something that will last longer than you." - William James
Vince Thompson with his two grandsons, Cinch and Stetson Reynolds
Photo Credits: Stephen Simpson
