Oklahoma Farm Report masthead graphic with wheat on the left and cattle on the right.
Howdy Neighbors!
Ron Hays, Director of Farm and Ranch Programming, Radio Oklahoma Ag Network  |  2401 Exchange Ave, Suite F, Oklahoma City, Ok 73108  |  (405) 601-9211

advertisements
   
    
   
   
   
   

Beef Buzz News


Generational Transfer Happens Whether We're Prepared for it or Not - So Why Not Plan Ahead Now

Wed, 08 May 2019 10:07:57 CDT

Generational Transfer Happens Whether We're Prepared for it or Not - So Why Not Plan Ahead Now One of the legendary ranches in the Southern Great Plains is the RA Brown Ranch of Throckmorton, Texas. Donnell Brown is a part of the RA Brown Ranch legacy. He has travelled the country speaking to producers about how they can ensure the longevity of their operations using the same thought-processes and strategies his family has done successfully for over a century now. He recently offered a few of those tips in an interview with Radio Oklahoma Ag Network Farm Director Ron Hays. According to him, the best advice he can offer upfront is simply to get started - dont put off the inevitable - start the process now.


My parents were so progressive in starting their estate planning back when I was in high school. Now, weve got to start doing the same thing with our kids and I feel like Im ten years behind, Brown said. I think its never too early to start a solid transition to keep the ranch in the family and the family in the ranch. I encourage all families to start that conversation because we never know when our time is going to come where the Lord is calling us home.


Beyond that, Brown says it is important to include the right people in your estate planning when it comes to who will make decisions, carry certain tasks out and simply offer seasoned advice on how to navigate the process. This starts at home with the parents, he says. Both patriarch and matriarch should be involved in this process. Brown says his mother was instrumental in the transition his family went through, remarking on the valuable insights that she brought to the table throughout the ordeal from her perspective as a woman. The other key player to recruit, Brown says, is a good accountant or lawyer that knows and understands the laws and how to use them to your advantage.


I think its important to find that really good accountant or tax person that knows those laws because those regulations change and the government is trying to get as much tax dollars from us as they can, he said. So, lets find a professional that knows how to best make that generational transfer with the least tax consequence because that Estate Tax or Death Tax can be brutal. So I say, find a professional you can trust and understands your business and get started.


Listen to Brown share more of his advice to Hays about estate planning for a farm or ranch business, on todays Beef Buzz.


The Beef Buzz is a regular feature heard on radio stations around the region on the Radio Oklahoma Network and is a regular audio feature found on this website as well. Click on the LISTEN BAR below for today's show and check out our archives for older Beef Buzz shows covering the gamut of the beef cattle industry today.



   



   

Listen to Brown share more of his advice to Hays about estate planning for a farm or ranch business.
right-click to download mp3

 

WebReadyTM Powered by WireReady® NSI

 

Beef News

  • Ag Exemption For ELD Rule Expires Sept. 30 And NCBA's Allison Rivera Explains How They Are Working To Extend Exemption  Fri, 07 Aug 2020 09:11:21 CDT
  • New 5-Year Long-Range Plan To Help Cattle Producers Unveiled at NCBA Summer Business Meeting  Thu, 06 Aug 2020 08:44:20 CDT
  • USDA Undersecretary Greg Ibach Continues Push For Animal Identification Program And Additonal USDA Regulatory Powers To Help Cattle Industry  Wed, 05 Aug 2020 11:45:23 CDT
  • TCFA's Ross Wilson Says More Robust Price Discovery Does Not Guarantee Higher Prices  Tue, 04 Aug 2020 09:19:31 CDT
  • TCFA's Ross Wilson Believes Voluntary Market Driven Approach To Increasing Live Cattle Trade Can Be Achieved By Year End  Mon, 03 Aug 2020 09:05:23 CDT
  • Cattle Producers Happy To Meet In Person During This Week's NCBA Summer Conference Says NCBA's Colin Woodall  Fri, 31 Jul 2020 09:09:20 CDT
  • Marathon Live Cattle Committee Meeting At NCBA Summer Conference Yields Compromise on Price Discovery Policy  Thu, 30 Jul 2020 09:42:28 CDT
  • United We Steak Beef Promotion Campaign Showing Good Results Says NCBA's Alisa Harrison  Wed, 29 Jul 2020 08:23:24 CDT
  • NCBA President Marty Smith Explains Key Issues Need Face-To-Face Discussion As That Group's Summer Meeting Gets Underway In Denver  Tue, 28 Jul 2020 09:38:24 CDT
  • Cong. Lucas Waiting For All Government Investigations to be Completed Before Saying Anything More About Increasing The Number of Packing Plants  Mon, 27 Jul 2020 09:05:14 CDT
  • Cong. Lucas Says This Week's USDA Report on Boxed Beef And Fed Cattle Price Spread Investigation is The First of Multiple Investigations  Fri, 24 Jul 2020 09:02:20 CDT
  • Uncertainty Surrounds July 24 Cattle on Feed And Cattle Inventory Reports  Fri, 24 Jul 2020 05:22:14 CDT
  • Expanded Genomics Will Have The Most Impact On Cattle Herd Improvements In The Next 20 Years Says Nebraska Rancher Bill Rishel  Wed, 22 Jul 2020 10:52:17 CDT
  • Boxed Beef, Beef Checkoff, CAB, Among The Key Paradigm Shifts That Have Advanced The Beef Industry Says Rancher Bill Rishel  Tue, 21 Jul 2020 08:58:21 CDT
  • Legendary Nebraska Angus Breeder Bill Rishel Uses The Past To Predict the Future  Mon, 20 Jul 2020 09:25:20 CDT
  • NCBA Working With Congress To Get Additonal COVID-19 Relief For Producers, Including Extending April 15 Marketing Deadline Into June  Fri, 17 Jul 2020 12:51:21 CDT
  • NCBA's Colin Woodall Tackles Trio of Issues Including Burger King's Latest Advertising Campaign  Thu, 16 Jul 2020 09:34:23 CDT
  • KSU's Dr. Glynn Tonsor Projects Feedlots To At Least Break Even, Maybe Turn a Small Profit By Early 2021.  Wed, 15 Jul 2020 08:44:30 CDT
  • As Boxed Beef Prices Have Dropped Significantly in Recent Months, Dr. Glynn Tonsor Says The Biggest Concern Now is on The Demand Side.  Tue, 14 Jul 2020 08:27:19 CDT
  • OSU's Derrell Peel Says Beef Demand Is A Complex Equation  Mon, 13 Jul 2020 09:19:22 CDT
  • Improving Efficiency Key To Sustainable Beef Production Says Dr. Clay Mathis, Director of King Ranch Institute For Ranch Management  Fri, 10 Jul 2020 08:52:20 CDT
  • Information Is Powerful And Valuable When It Comes To Pregnancy Checking Heifers And Cows  Thu, 09 Jul 2020 10:38:20 CDT
  • Beef Exports For May Down 33 Percent But USMEF President Optimistic Numbers Will Improve Later This Year  Wed, 08 Jul 2020 09:31:14 CDT
  • NCBA's Colin Woodall Expects Good Improvements For Cattle Industry In Coming Months  Tue, 07 Jul 2020 09:14:31 CDT
  • Cong. Lucas Introduces Legislation To Expand Federal Meat Inspection For Smaller Processing Plants  Mon, 06 Jul 2020 09:23:21 CDT
  • OSU's Dr. Derrel Peel says Producers Need to be Prepared for Drought  Thu, 02 Jul 2020 09:26:37 CDT
  • There is Plenty of Beef This Summer Says OSU Extension Livestock Economist Derrell Pell  Wed, 01 Jul 2020 08:28:23 CDT
  • NCBA's Alisa Harrison Explains New United We Steak Grilling Campaign Just In Time For The July 4th Holiday  Tue, 30 Jun 2020 09:44:24 CDT
  • NCBA's Scott Yager Tells Landowners To Enjoy New Trump WOTUS Rule Which Became Law June 22  Mon, 29 Jun 2020 09:32:21 CDT
  • NCBA's Alisa Harrison Says Beef Industry Has Vast Amount of Resources To Meet Consumers Changing Behaviors  Fri, 26 Jun 2020 09:02:11 CDT
  • Oklahoma Task Force Member John Pfeiffer Says They have Studied The Idea Of Opening New Meat Plants But Logistics Pose Major Challenge  Thu, 25 Jun 2020 15:59:11 CDT
  • Mulhall, Okla. Rancher John Pfeiffer Says Joint Task Force Studying Ways To Expand Meat Processing In Oklahoma  Wed, 24 Jun 2020 10:36:53 CDT
  • There Is Light At The End Of The Profitability Tunnel For Cattle Producers, Says OSU's Derrell Peel  Tue, 23 Jun 2020 10:21:37 CDT
  • Cattle on Feed Report No Surprise, Says OSU's Derrell Peel, As It Shows Large Drop In Marketings  Mon, 22 Jun 2020 10:50:52 CDT
  • NCBA's Danielle Beck Pleased With Progress On Updating USDA's Dietary Guidelilnes  Fri, 19 Jun 2020 10:06:05 CDT

  •  

    Beef Buzz Archives

    Old Archives  |   2010  |   2011  |   2012  |   2013  |   2014  |   2015  |   2016  |   2017  |   2018  |   2019  |   Jan 20  |   Feb 20  |   Mar 20  |   Apr 20  |   May 20  |   Jun 20  |   Jul 20  |   Aug 20  |   Sep 20  |   Oct 20  |   Nov 20  |   Dec 20
        

    Ron salutes our daily email sponsors!

    Oklahoma Ag Credit Oklahoma Farm Bureau National Livestock Credit Ag Mediation Program P&K Equipment Tulsa Farm Show AFR Insurance Stillwater Milling Oklahoma Cattlemen's Association KIS FUTURES, INC.

    Our Road to Rural Prosperity sponsors!

    Banc First OPSRC ORWA TPAOO TPAOO

    Search OklahomaFarmReport.com


       
       
    © 2008-2020 Oklahoma Farm Report
    Email Ron   |   Newsletter Signup   |    Current Spots   |    Program Links

    WebReady powered by WireReady® Inc.