THE HARD BUT NECESSARY FAMILY CONVERSATIONS ON RANCH SUCCESSION PLANNING

Let’s face it, operating a business with family members is hard enough. Throw in transition planning and the communication divide seems insurmountable. Families are messy – sibling rivalries, reluctance to share information, conflict between on-farm and off-farm heirs – each of these can destroy a successful ranching business.

This session dives into the very messy world of family business dynamics and how the overlap of family and business relationships creates friction and conflict. We’ll discuss strategies to navigate family and business roles, improve communication, deal with sensitive issues, and form a plan to transition ranch ownership and management.

Learner Outcomes:

1. A greater understanding of family business dynamics and strategies for separating family and business roles.
2. Learning how intentional communication through structured family business meetings and family council meetings can help protect the business and family harmony.
3. Discover the changing roles of family members through stages of transition and how to find resources so the business and family can survive and thrive.