What is in this article?:
Chris Hayes would never have known his son-in-law, Jeff Depué, might entertain the option to farm unless he had started a formal estate planning process. "I learned you need to talk with your family, even through the difficult points. See what they want from the farm, and make it work with what you want."
Jeff Depué (far left), son-in-law of Margie and Chris Hayes (backs turned), learn more about the estate planning process from a Water Street Solutions Market Advisor Aaron Bertels. Depué currently is a teacher and is learning more about the family business.
What to ask your financial advisor
Here are questions to ask your advisor before starting:
- What is your experience with facilitating the transition planning process?
- What are your qualifications as a transition-planning specialist?
- How do you get paid for the service you provide?
- What is your process for guiding families through planning?
- How many families have you worked with to create transition plans?
- What percentage of your work is with farm families?
- How long do you estimate the process will take?
- Which family members need to be involved?