The ranchers we’ve worked with are fiercely independent and stubborn for results. They know long-term success is difficult and rare. They know real answers to their succession planning concerns may involve the tax, legal, and financial disciplines. But most don’t know who can help or where to get answers. When they contact Legacy by Design, it’s usually about protecting their interest and exercising some control over the operation, while offloading responsibilities to the next generation.

Many of today’s ranchers feel pushed to change by outside influences, but know what it takes to succeed in the cattle industry. They want to work with a proven entity, with someone who understands the complexities of their business and appreciates dedication. Most ranching professionals want to continue a legacy of multigenerational success. They’re sometimes confused by the planning process and overwhelmed by the issues that need to be addressed in planning for succession.

Our ranching clients want solutions for:

  • Establishing a management structure that allows the next generation to gradually assume responsibilities over time.

  • Creating options for retirement by converting equity to an asset[s] that can be used to support their lifestyle in a gradual retirement.

  • Treating their children equitably and apportioning assets among those active in the operation and those who have chosen other careers.

  • Transferring ownership in the operation to a well-prepared next-generation.

  • Utilizing estate planning techniques to transfer ownership interests, minimize exposure to the estate tax, and provide support for a surviving spouse.

Since 2005 Legacy by Design’s four-part planning model has been helping farm families across the U.S. plan for multigenerational success. Legacy’s comprehensive planning approach includes:

1. Financial Security

Providing financial security begins with a solid financial plan, which includes managing risks, eliminating personal debt, and establishing an investment portfolio. The entire process is designed to gain peace of mind and maintain the lifestyle an owner desires.

2. Ownership Transition

An effective ownership transition will protect assets, mitigate taxes, and minimize risk. This step is designed to efficiently manage the ownership transition to address the needs of the owner, wants of the family, and the demands of the operation.

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3. Leadership Structure

Succession depends on a management structure that allows those active and involved in the operation to control their own destiny. This phase is designed to establish a leadership structure that ensures management decisions are made by and for active and involved owners.

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4. Estate Plan

Estate planning strategies are complex and confusing. They involve legal terms, financial concepts, and tax terminology. This step in the process will provide equitable distributions for their children and financial security for their loved ones. Estate tax provisions will ensure an owner’s wishes are achieved.

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Legacy by Design’s four-part comprehensive succession planning process is designed to generate results. It provides financial security in retirement, ensures a lifestyle for dependents, encourages business success, and promotes family harmony.

So, contact Kevin today for a consultation, we’ll address your questions, eliminate the confusion, and set your mind at ease.

Do You Need Answers to Your Succession Planning Questions?

CALL KEVIN NOW: (530) 671-2100 / (509) 624-5929

Request a Consultation With Kevin

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