Succession Plans Pt 1

From the Ag Information Network, this is today’s Fruit Grower Report. If you’re at that stage where it’s time plan out how to pass on your farm or ranch to the next generation, you may also be discovering the dynamics and challenges that brings for many families.

Tina Lovejoy, Founder of Frameworks Facilitation, who helps families through the succession planning process says some are looking for the “perfect” plan …

LOVEJOY … “A, I’ve never seen a perfect plan. I mean, I don’t deal with the structural side. I deal with the relational side of wealth transfer and business succession. But I will say this, families are constantly in flux, they’re constantly growing and shifting and changing and so as much of their planning that can reflect that the better.”

A big part of her job, Lovejoy says is to listen …

LOVEJOY … “And so, I work closely with structuralists, with advisors, with trust companies who work on the structural side and then I get to sit and listen a lot. That’s a big part of my work is actively listening, getting a sense of, how is this effecting the family, how is this playing out, what are their struggles, what are their hiccups, and where could they communicate better?”

Because, Lovejoy says every family is different …

LOVEJOY … “So, we work really hard on communicating and getting context. And then, I like to say context neutralizes content. When you get more of the story, it might still be a really messy situation, but at least you have more of an idea of what’s going on.”

Tune in tomorrow for more succession planning dynamics … or learn more about Frameworks Facilitation on their website at

www.frameworksfac.com