Are you certain you've taken all the steps necessary to ensure your farm will prosper in the next generation? Have you communicated well with all of the stakeholders? At Water Street Solutions, our goal is to eliminate the uncertainty you are likely feeling about this. We strive to provide you with the confidence that your hard work will transfer smoothly to the next generation. We walk clients through our phased approach which allows them the opportunity to know that each area of planning has been addressed.
Legacy planning is important, but perhaps not urgent, so it gets pushed to the future. Often we just don't know where to start with a big project like this. Very few families have a complete estate and transition plan. Many have a few pieces completed - like wills, trusts, and life insurance policies. Sometimes the challenge is that no one in the family is coming back to the farm. Are you confident that your current plan would serve you well?
Water Street Solutions is a neutral third party to help guide the discussions forward, understanding the true wants and needs of every family member and crafting a plan to address them.
December 9, 2013
Have you ever thought about what would happen if the farm needs to transition - within the same generation? Legacy plans need to be able to handle transitions within the same generation as well.
In his weekly Finance First blog post, Darren Frye, President and CEO of Water Street Solutions, writes on FarmFutures.com about why a farm's legacy plan needs to be prepared to handle such a situation - before the transition takes place. Read his blog post.
December 3, 2013
Thinking about legacy planning can be overwhelming. You might not know where to start. But you know you want to be addressing the right issues - the ones that are going to make a big difference. Ben Metzger, Director of Legacy Planning with Water Street Solutions, talks about how to do that - how to start the plan - with Dewey Nelson of KRVN. Address the Right Issues around Your Legacy Metzger AUDIO
November 11, 2013
Are you in the later part of your farming career? Do you know someone who is - maybe it's your Dad or Grandpa? That farmer has some different concerns from those who are just starting out. One of those might be around high land values - and the estate tax problems that could create in passing the farm to the next generation.
In his weekly Finance First post on FarmFutures.com, Darren Frye, President and CEO of Water Street Solutions, shares the story of one farmer who didn't quite realize what high land values meant for him and his estate plan. Read the blog post.
November 8, 2013
Where's the future of your farm heading? How do you figure out who's going to lead from the next generation - and how that fits in with the whole plan? Ben Metzger, Director of Legacy Planning with Water Street Solutions, has some ideas that can help get you started as you think about the future leaders of your farm. He talks here with farm broadcaster DeLoss Jahnke about that on the noon agribusiness hour. Noon Show Ben Metzger AUDIO
October 23, 2013
There's a lot that goes into taking care of your crops - and now during harvest you're reaping the rewards of what you've done all growing season long. But what about reaping what's happened over your whole farming career? That's how you've created the legacy you'll leave the next generation. Ben Metzger, Director of Legacy Planning with Water Street Solutions talks here with Dewey Nelson of KRVN about the plans you need to have in place to be sure you'll fully harvest your legacy. Harvesting Your Legacy Metzger AUDIO