Managing the Family Forest: The Importance of Family Meetings
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Feb 17, 2010 12:00 pm US/Eastern
Length: 01:00 (hh:mm)
- Allen Nipper
- Ginny Nipper
- None have been applied for or approved at this time.
Professionals, forestry consultants, accountants, attorneys, estate planners, and others, who work with landowners know their clients are becoming older. These advisors may be aware that their clients have considered or may be considering how to arrange the future of their estates before they die. However, many professionals will not recognize that research indicates over 60% of forest landowners have not talked with their heirs about forestry in general and less than 35% have shared a forestry management plan with their heirs.
This lack of communication among family members makes it harder for professionals to assist their clients develop functional plans for how the clients’ forest lands will be handled after their death. When families are encouraged to communicate about the family business early and often, it is easier for professionals to assist clients in accomplishing their goals and wishes. Professionals need to encourage family meetings as one means to increase communication while there is still time for plans to be developed. If families will follow a pattern of having routine family meetings in which agendas, minutes, open discussions, responsibilities, and results are expected, problems with transition of land holdings will be minimized.
This webinar will provide information on the purpose and need for family meetings along with challenges that can be expected. Availability of templates that can help professionals and landowners develop goals, organize meetings, encourage discussions, and maintain records will be discussed.