Have you ever thought about how future generations (i.e. your children, grandchildren and possibly even great grandchildren) will run your farm without your guidance?
It's an uncomfortable thought, perhaps, to know that your hand won’t always be the one on the plow, literally or figuratively. However, if you put in the spadework now to protect the legacy you've built with your hands and heart, your farm can flourish for decades.
Here are three reasons why taking the time to consider the future now is a good thing.
1. Planning Means Prosperity for the Future.
You know from practical experience that you need to spend arduous months grooming the earth and tending to your animals to enjoy the end result of a delicious home-cooked farm meal. Most Americans (and even most Ohioans) give precious little thought to how food ends up on their tables. But you know the love and sacrifice required to get it there.
Effective, mindful preparation is necessary to create ongoing abundance of any kind -- agricultural, ethical or financial. By setting up the right processes and procedures now to protect your farm and your family, your legacy can last for generations. Without such estate planning, though, the hard work and success you've generated could dissipate.
2. Solidifying Plans for the Future Creates Peace of Mind in the Present.
Recall the feeling of calm confidence you have when the processes of your farm are all running as they should. Maybe you've trained your son well enough that you totally trust him to tend to your chickens and hens. Or you've groomed your crew to handle day-to-day management so well that you could take two weeks off with ease, and your farm wouldn't miss a beat. When you feel confident in your planning, you can face almost any crazy contingency -- a bight on the crops, an early frost, a nasty virus spreading in the barn -- with equanimity.
In other words, peace of mind about the future doesn't come from controlling that future or even making sure that the future is flowers and sunshine. It comes from feeling comfortable that you can rely on the plans that you've made to deal with whatever comes your way.
3. Looking Ahead Can Improve the Present Immediately.
You plan for the future all the time already. To improve the quality and sustainability of your products, you look at research, prototype seeds and consider new agricultural and husbandry methods. Working through this future vision informs your plans in the present. When you know what you're working towards accomplishing, you can figure out what to do now as well as what to stop doing to get the results you want.
Obtain a clear vision of what your farm will look like ten years or even fifty years in the future. Then you can work backwards from that vision to figure out what to do (or stop doing) today.
We can provide support to make planning for that future straightforward and reliable. Call Gudorf Law Group to schedule a free 60-minute consultation at 877-483-6730.