A few years ago I wrote my first will and, in truth, it was a very hard thing to do. It’s not easy to think about dying and having to divide up your property and possessions.
At the time, it was only a very basic will and it was just a matter of having something done.
However, so many people (especially in the farming community) never get around to writing a will and it can cause so many problems for the family left behind.
I can understand why some people put it off – perhaps you think that you might change your mind in a few years’ time. Well that’s all fine, because you can change your will as often as you want.
When I wrote my first will, it got me thinking more about succession and having a plan in place.
I love my three sons in equal measures and there is no way I will ever intentionally show favouritism to any of them
Some people are in the unfortunate position of having no obvious line of succession. However, I have a different kind of problem, with three sons who want to farm – it certainly complicates things.
I love my three sons in equal measures and there is no way I will ever intentionally show favouritism to any of them. Having said this, there is no way that I can give each the exact same amount.
I think that they are fully behind everything that I’m trying to do
I have worked hard over the last few years to get a succession plan in place and while I’m not there yet, I have a definite plan in my head. It has taken a lot of hard thinking and a lot of conversations with my sons.
At every stage, I have involved them and have always taken on board their views. I think that they are fully behind everything that I’m trying to do.
Land price
It would be great if land prices were at a level that could be paid back by the income generated by it. But this is not the case and land (at current prices) will never pay for itself through livestock farming.
At the moment, my three sons can work reasonably well together but that may be because I’m around to act as a go-between.
There comes a time in life when you need to step out on your own and make your own way in farming
Things could change if they get married and bring other people into the equation.
There is another thing that worries me a little bit. There comes a time in life when you need to step out on your own and make your own way in farming.
Of course, it’s always nice to have your father about for a bit of advice when required, but I never really got any recognition as a farmer until after my father died, and it’s something that I always regret.
The important thing is that I have a definite plan for the future
It would have been nice for my father to have seen the way that I have progressed the farm, and it was probably my fault for not pushing to take more control before he died.
Anyway, there is no point in dwelling in the past.
The important thing is that I have a definite plan for the future. I have built this farm up into a multi-stranded business and, although I’m not ready to retire just yet, I plan to hand over different parts of the business in the next number of years.
One of those different strands is a Blade farming enterprise which I’m already taking a back seat in. My two youngest sons are taking the lead role in this enterprise and I am more than delighted to watch their progress.
There are lots of options for me to give my sons a chance to take control of part of the business
Then there are the sheep and suckler enterprises which are easily split up and I still have the dairy heifer contract-rearing, and beef finishing enterprises.
There are lots of options for me to give my sons a chance to take control of part of the business.
I think that it is very easy for us farmers to keep putting off thinking about succession but it’s very important that we do think about it. Writing a will is only the first step and we all need to take some time and think about succession.
Talk to your family or friends and do it while you’re still young enough to enjoy watching someone else being successful and be able to give advice to them if they need it.
Read more
Watch - Farmer Writes: my oldest cow still going strong
Farmer Writes: field drainage repairs come at a high cost
A few years ago I wrote my first will and, in truth, it was a very hard thing to do. It’s not easy to think about dying and having to divide up your property and possessions.
At the time, it was only a very basic will and it was just a matter of having something done.
However, so many people (especially in the farming community) never get around to writing a will and it can cause so many problems for the family left behind.
I can understand why some people put it off – perhaps you think that you might change your mind in a few years’ time. Well that’s all fine, because you can change your will as often as you want.
When I wrote my first will, it got me thinking more about succession and having a plan in place.
I love my three sons in equal measures and there is no way I will ever intentionally show favouritism to any of them
Some people are in the unfortunate position of having no obvious line of succession. However, I have a different kind of problem, with three sons who want to farm – it certainly complicates things.
I love my three sons in equal measures and there is no way I will ever intentionally show favouritism to any of them. Having said this, there is no way that I can give each the exact same amount.
I think that they are fully behind everything that I’m trying to do
I have worked hard over the last few years to get a succession plan in place and while I’m not there yet, I have a definite plan in my head. It has taken a lot of hard thinking and a lot of conversations with my sons.
At every stage, I have involved them and have always taken on board their views. I think that they are fully behind everything that I’m trying to do.
Land price
It would be great if land prices were at a level that could be paid back by the income generated by it. But this is not the case and land (at current prices) will never pay for itself through livestock farming.
At the moment, my three sons can work reasonably well together but that may be because I’m around to act as a go-between.
There comes a time in life when you need to step out on your own and make your own way in farming
Things could change if they get married and bring other people into the equation.
There is another thing that worries me a little bit. There comes a time in life when you need to step out on your own and make your own way in farming.
Of course, it’s always nice to have your father about for a bit of advice when required, but I never really got any recognition as a farmer until after my father died, and it’s something that I always regret.
The important thing is that I have a definite plan for the future
It would have been nice for my father to have seen the way that I have progressed the farm, and it was probably my fault for not pushing to take more control before he died.
Anyway, there is no point in dwelling in the past.
The important thing is that I have a definite plan for the future. I have built this farm up into a multi-stranded business and, although I’m not ready to retire just yet, I plan to hand over different parts of the business in the next number of years.
One of those different strands is a Blade farming enterprise which I’m already taking a back seat in. My two youngest sons are taking the lead role in this enterprise and I am more than delighted to watch their progress.
There are lots of options for me to give my sons a chance to take control of part of the business
Then there are the sheep and suckler enterprises which are easily split up and I still have the dairy heifer contract-rearing, and beef finishing enterprises.
There are lots of options for me to give my sons a chance to take control of part of the business.
I think that it is very easy for us farmers to keep putting off thinking about succession but it’s very important that we do think about it. Writing a will is only the first step and we all need to take some time and think about succession.
Talk to your family or friends and do it while you’re still young enough to enjoy watching someone else being successful and be able to give advice to them if they need it.
Read more
Watch - Farmer Writes: my oldest cow still going strong
Farmer Writes: field drainage repairs come at a high cost
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