Your kids might not be kids anymore; perhaps one or more of your adult children have joined your ranching business and maybe they have complicated the situation by bringing a…
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In a discussion about succession and estate planning at the Ranching For Generations course earlier this year, a woman told me that she believed “we should leave our kids opportunities…
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Succession. When the word succession is used in agriculture circles most think of who gets what and when. Typically when any industry group hosts a panel on succession, they include…
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Most family ranches are subsidized with free, or underpaid, family labor. Sometimes the difference between what family members get and what it would cost to hire someone else to do…
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There are two big pieces to the estate planning puzzle: who will run what (management succession) and who will own what (the transfer of assets). In my last ProfitTips article…
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Most people assume that the biggest estate planning fights involve “Who will own what?” It’s been my experience that, “Who will run what?” is often an even bigger issue. “Who…
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University of Wyoming Extension agent and Ranching For Profit School instructor, Dallas Mount, recently led a management succession workshop in Baggs, Wyoming. Dallas is a gifted, innovative teacher, and I…
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If you have a family ranch, whether you know it or not, you have a family employment policy. At least your kids think you do. In the absence of a…
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I occasionally lead workshops I call Hard Work and Harmony: Effective Relationships In Family Businesses. In it I like to ask participants to explain to the person next to them,…
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We use a process at RMC to help families and business teams create a shared vision and a plan to achieve it. We start by asking a very basic question:…
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