Advisors help you make better decisions. An advisor might be your brother who runs his own profitable family farm, it might be a lifelong friend or mentor, it might be a trusted person you know from your volunteer work, or it might be a professional consultant, your banker, your lawyer. Advisors come in many forms.
But they have these kinds of qualities:
Great judgement
Analytical minds
Strong communication skills
Knowledge and experience
Trustworthy
Honest, even when they know you won't like it
Technical and professional skills
According to succession planning experts, your farm succession planning requires input from certain professionals
Lawyer
Estate Planning
Accountant/Taxation specialist
Insurance professional
Farm management specialist
Financial planner/ advisor
Banker/ lender
Family or business coach / mediator
Personal coach
Keep this list in mind as you line up your family’s advisors. There are worksheets included in your Succession Planning Workbook to help you evaluate potential advisors.
Assignment
Use the Workbook to do a quick quality assessment of the advisors you have now.
Next Step
I have assess the quality of the advisors I have now and am ready to identify other advisors we may need.