Starting the conversation of succession planning is never easy. However, it’s an important topic. The National Cattlemen’s Beef Association has recently released a new resource to help start the discussion.
The online learning module aims at guiding families through the steps of transition and helps families create operation-specific succession plans. NCBA President Gene Copenhaver said, “I’ve been through transition discussions with my kids, and I know it’s not comfortable. As a former ag lender, I’ve also seen my community struggle with these conversations.”
“I hope resources like this make it easier for cattle producers across the country to secure the future for their farms and ranches,” added Copenhaver.
In the cattle industry, sustainability is about more than just protecting natural resources — it’s also about planning for the future of the operation itself. Here’s a look at why you should take proactive steps to help prepare your farm or ranch for the next generation.
Professor Shannon Farrell with the Oklahoma State University specializes in estate planning. Professor Farrell said, “You owe it to your loved ones to have the courage to tackle this challenge by creating a succession plan. If you don’t plan now, you may end up leaving your family with a burden instead of a gift.”
Professor Farrell also said, “A failure to plan is a plan to fail.”
Audio Reporting by Elizabeth Sanders for Southeast AgNet.