Advisors help you make better decisions. An advisor might be your brother who runs his own profitable family farm, it might be a lifelong friend or mentor, it might be a trusted person you know from your volunteer work, or it might be a professional consultant, your banker, your lawyer. Advisors come in many forms.

But they have these kinds of qualities:

  • Great judgement

  • Analytical minds

  • Strong communication skills

  • Knowledge and experience

  • Trustworthy

  • Honest, even when they know you won't like it

  • Technical and professional skills

According to succession planning experts, your farm succession planning requires input from certain professionals

  • Lawyer

  • Estate Planning

  • Accountant/Taxation specialist

  • Insurance professional

  • Farm management specialist

  • Financial planner/ advisor

  • Banker/ lender

  • Family or business coach / mediator

  • Personal coach

Keep this list in mind as you line up your family’s advisors. There are worksheets included in your Succession Planning Workbook to help you evaluate potential advisors.

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Assignment

Use the Workbook to do a quick quality assessment of the advisors you have now.

 

Next Step

I have assess the quality of the advisors I have now and am ready to identify other advisors we may need.