Family Communication in Ag Operations: Getting the Cards on the Table

Authors

Randy McKee, Estate Planning Services, Inc., Rapid City, SD

Date of this Version

December 2005

Document Type

Article

Comments

Published for the Proceedings, The Range Beef Cow Symposium XIX December 6, 7 and 8, 2005, Rapid City, South Dakota.

Abstract

Why communication is so important.
A. Saving the family relationships
B. Avoiding the Family Feud
1. Have to back this up with a plan and with good documents
C. Producing desirable outcomes
1. Starts with having a plan
2. Plan does not have to be carved in stone
3. New techniques offer flexibility
A. Trusts
B. Durable Powers of Attorney
C. Business Entities