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WHAT’S IMPORTANT TO YOU?

WHAT’S IMPORTANT TO YOU?. Family, Farming and Communication. VALUES ARE . Things you believe are good, desirable and most important. Your personal belief of what is worthwhile in life. IDENTIFYING AND PRIORITIZING VALUES. All values are important

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WHAT’S IMPORTANT TO YOU?

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  1. WHAT’S IMPORTANT TO YOU? Family, Farming and Communication

  2. VALUES ARE ... • Things you believe are good, desirable and most important. • Your personal belief of what is worthwhile in life.

  3. IDENTIFYING AND PRIORITIZING VALUES • All values are important • Many factors influence and change our values • Values vary among individuals • There are no right or wrong answers

  4. Generational Definitions

  5. Generational Differences

  6. “Dedicate yourself” “Be independent” “Behave like a businessMAN” “Care for your family” “Be a mother” Loyalty to the family business is fused with loyalty to the family of origin Loyalty competes with family demands Loyalty to “self” Women Running the Farm - Generational Differences -

  7. Initiating Discussion Why is it so difficult? • Unpleasant overtones connected to growing old and dying • Children don’t want to appear greedy or as trying to take over

  8. Someone needs to start the dialog … who will it be? • Don’t be put off by family members who are not ready to talk … • They may never be ready and later may be too late!

  9. Continuation of the Family Farm How important is it to you … • That the farm remain in your family’s possession? Ponder: Children want to do something different than farm – how do you feel about that?

  10. Expectations Related to Transfer Process How important is it to you … • That a division of farm property among all children is equal in dollar value? • That your children play a part in the decision making for the farm’s future? Ponder: Not everyone in the family is satisfied with the way the transfer occurs? How does this make you feel?

  11. Maintaining Control of Farm Decisions How important is it to you … • To maintain some financial control throughout your life? Ponder: Younger generation wants major decision authority

  12. Security for Both Generations How important is it to you … • That your retirement wants are protected regardless of the effect on the long term viability of the farm? Ponder:Your children expect your financial help to get established in farming?

  13. Concerns About Children How important is it to you … • To give financial assistance to children who choose farming as a career? • To provide financial assistance to help non-farming children become established off the farm? Ponder: Is it necessary to give each child the same $ value of assistance?

  14. Where does the time go? • It’s time to talk • It’s time to identify what’s important • It’s time to make a plan • It’s time to make decisions • It’s the right time!

  15. Presented by:Margaret A. ViebrockWSU Extension

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