Sharing your transition plan and schedule with family is a good checkpoint in the process, for two reasons. Often, family members are the ones who know you best and what your capabilities and limitations are. You’re likely to get a reality check on some items in the plan. While it can be hard to take for some, it will help you avoid any unnecessary problems during the transition phase.
The second reason to share it with family? Family relationships and peace. There might be something in the table that interferes with something promised to a non-farming child. Or there might be someone else in the family who can help out with some of the transition pain but they won’t have a chance to offer their help if they can’t see the transition plan.
And if no one has any feedback or additional ideas, that’s fine too. You respected them enough to share and that’s sometimes all you need to do.
Share your table with family members.
Review your plan one last time
You’ve incorporated ideas and recommendations from advisors and family members. It’s time for the owner and successor to look over the table one last time.
Owners and successors should review the Labour-Management-Ownership transition table one last time together. Make any required adjustments to the Labour-Management-Ownership transition table.
Are the items in the right order? For instance, is the successor scheduled to learn a skill set after he/she is given responsibility for it?
You’ve reviewed and adjusted the Labour-Management-Ownership transition table. What now? Mark Complete to find out.