The program is designed so that even if you and your spouse retire together, the courses will be valuable. The probability of a woman being left in charge is real because women often outlive men, and farming is a high-risk job. Klinefelter said a lot of women are reluctant to ask questions if she and her husband are in a joint meeting. Plus there's a need to develop an informal network of women who are a part of farm or ranch management. Put an estate and succession plan in place early and review regularly.
Many people have an estate plan but fail to have a succession plan.
Many old estate plans have failed to recognize that there may be children or key employees who would like to continue the operation. Develop an informal network with other women involved in similar operations. If tragedy strikes, these peers can be a valuable source of guidance and emotional support. Form strategic alliances with trusted professionals such as CPAs, attorneys, lenders, insurance people, consultants, etc. These individuals, with the aid of an outside facilitator, can become an advisory board to guide you if necessary.