The Podcast for Cattle Producers
These are show notes for the cattle producer who likes to read instead of listening or watching podcast episodes. Here you will find a collection of podcast episodes from the past year that are broken down into their key points and offer links to resources mentioned in the show. Here’s your chance to read up on current ranch management strategies that will improve how you operate as a cattleman and leader in the beef industry.
Podcast Show Notes for the Cattle Producer
The Missing Piece of Estate and Transition Planning
“There is a big part of the message missing when it comes to talking about estate and transition planning. That part of the message is what we can do as the younger generation to prepare ourselves for that eventual transfer,” said Groskopf.
Jessica and her husband know firsthand what it is like to build for the future even when there has been a lack of transparency and communication from the senior generation. Together, they turned what looked like a less-than-ideal buy out to others into a great opportunity for themselves by using emergency funds, good debt, flexible investments, and alternative revenue.
Groskopf says, “Fifty percent of land owned by an operator was purchased from a non-relative.” That means the younger generation needs to start preparing financially because the likelihood of them purchasing property is very high.