Farm Transition Planning: Aligning Vision with Spouses & Siblings

Описание: In this episode, I sit down with Kevin Hegedus, Certified Financial Planner and founding partner of PWM Private Wealth Counsel, for a practical conversation about how to align vision with siblings and/or spouses when there's lots of disagreement.

So often in farm families, tensions rise because members don’t share views on what the next steps for succession should be or when they should happen. Spouses may disagree on when to hand over the reins, while siblings often argue over equal vs. fair inheritance. Knowing what questions to ask and the importance of early planning are key to alleviating disagreements and keeping harmony on the farm.

In this episode, we cover:
✅ Misalignment between spouses’ vision for retirement and transition timing.
✅ Three key farm transition snapshot points: income streams, housing, and fairness.
✅ Financial transparency, farm women, and discovering hidden wealth.
✅ Managing sibling disagreement and succession, splitting the farm.
✅ Open family discussions for smoother transition and succession.
✅ And so much more.

If you or someone you know is struggling to find alignment with their farm spouse or siblings, this episode is for you.

Check out my podcast - https://elainefroese.com/2025/12/23/f...

Check out Kevin Hegedus - https://www.pwmprivatewealth.com/our-...

Thanks for listening!

0:00:00 — Highlights
00:02:47 Aligning farm family vision
00:05:29 Identity challenges of farm business owners
00:06:37 Retirement timing misalignment between spouses
00:09:08 Three farm transition snapshot points
00:10:47 Retiree income scenarios & land rental
00:15:09 Financial transparency & farm women
00:16:00 Sibling conflict and farm succession
00:19:04 Equal vs fair inheritance
00:21:13 Why early transition planning matters
00:23:37 Building personal wealth for retirement
00:25:33 Financial advisor fees explained
00:27:19 Tax avoidance mindset in farming
00:29:36 Income splitting & retirement tax strategy
00:32:08 Next-gen income challenges
00:34:16 Open family discussions for succession
00:36:29 Family meetings & celebrations
00:37:44 Long-term care and contingency planning
00:38:50 Advocating for women in farm planning
00:40:04 The poison pill in succession planning
00:41:54 Final advice on fairness & future planning

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