Category: Succession

The Great American Tragedy

In an earlier ProfitTips column I wrote about a young couple who, after attending a Ranching For Profit School, came home to meet a brick wall of resistance from the folks.   The couple wrote, “They were very upset when we showed them the numbers and compared them to the RFP benchmarks. We proposed several […]

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Home On The Range?

Many of us hope and fear that the next generation will want to be part of the family business. We hope because we feel validated that we must have done something right when our kids want to follow in our footsteps. Many of us see it as our role to create opportunities for our kids. […]

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Two Legacies

Legacy is a powerful concept.  Perhaps that is because we see our legacy as a form of immortality.  In some families it has survived generations now long gone. Many people I work with feel a deep obligation to carry on the family’s legacy.  A family’s legacy can be rich with meaning and a powerful source […]

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Pay The Damn Taxes

In The Ultimate Legacy, Dr. Don Jonovic says that the most critical issues in an estate plan are: Who will run what? Who will own what? How will you make sure you have the capacity to pay the taxes so that the first two things can actually happen?   The transfer of authority can be […]

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Hard Work Isn’t All It’s Cracked Up To Be

The best day of my life was the day my first child was born. He was delivered through an emergency C-section. I was surprised when they invited me to scrub up and be right by Kathy’s side as the doctor made the incision and gently lifted Jack out of her body. I don’t think I […]

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