If your successor is going to be impacted by your choice of value to flow to his/her siblings, it’s fair to give him/her a chance to discuss it with you.

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Action Point

Have a one-on-one conversation with your successor.

Let them know your plan and the reasons why it makes sense, in your mind, to provide value to non-farming children in a way that impacts your successors. And be open to new ideas. Maybe your successor has an idea for providing his/her siblings the same value but in a different, less disruptive way.

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Next Step

If you have had an individual conversation with your successor and your plan of providing value to your children is the same then mark complete and carry on. If not, review your answers to the previous section "Find the Right Balance" on your worksheet and consider alternate options for the inheritance of all your children.