Latest / CattleUSA Daily / 236: Will Your Operation Survive the Generational Shift? with Emma Coffman

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236: Will Your Operation Survive the Generational Shift? with Emma Coffman · CattleUSA Daily

• 0:00
  In today's episode with Emma Kaufman, we are breaking down
• 0:03
  what does it mean to leave a legacy in ranching?
• 0:07
  And we're also talking about just the generational what?
• 0:11
  What does that mean? What are we seeing in this
• 0:14
  generational shift right now? And ranching?
• 0:16
  What are we seeing as far as technology goes, as far as
• 0:19
  handing down a sustainable operation?
• 0:22
  We talked about all of it today. Before we hop into today's
• 0:25
  episode with Emma though, if you are watching on YouTube, make
• 0:27
  sure you take a second hit that subscribe button and like this
• 0:31
  episode. If you're watching on any of our
• 0:32
  other podcast platforms, make sure that you take a second to
• 0:35
  go follow the show and also rate and review it as well.
• 0:38
  Without further ado, let's go ahead and hear from Emma.
• 0:45
  Welcome to the Cattle USA Daily podcast, your go to.
• 0:48
  Source for the latest. Livestock markets, industry
• 0:50
  insights, and the updates shaping agriculture today.
• 0:53
  I'm your host Lauren Moylan, a passionate advocate for
• 0:56
  agriculture. Here to keep you.
• 0:58
  Informed and connected. Now let's dive into today's
• 1:01
  episode. Emma, welcome back to the
• 1:10
  podcast. I am so excited for today's
• 1:12
  podcast episode. And unfortunately, we only have
• 1:15
  like 15 to 30 minutes to talk about this topic.
• 1:18
  And I really do think that we could sit here for like 3 hours
• 1:22
  and talk about this. But we are talking about
• 1:24
  generational shifts and technology and just how all of
• 1:28
  those things play together. I think this is a soapbox that
• 1:31
  so many young producers can get on pretty frequently.
• 1:34
  But hopefully today we're able to just really keep it down to
• 1:36
  the nitty gritty of, hey, this is the importance of it.
• 1:39
  This is what we're seeing. These are our opinions and our
• 1:41
  thoughts about it. So I will, I'll just let you
• 1:44
  kind of take it away and introduce the topic for
• 1:46
  everyone. Yeah.
• 1:47
  So we're looking at the changing of our generations within the
• 1:52
  agriculture industry. We always joke about the ag
• 1:55
  industry is the slowest to adopt things.
• 1:58
  And I think one of the examples of that and attributes to the
• 2:01
  change is looking at our average age or average age of US farmers
• 2:05
  in ranchers is 58 years old. That's actually gone up.
• 2:10
  And then the average age of new beginning farmers and ranchers
• 2:13
  is like 45. So people getting in first
• 2:16
  generation. And there's a lot of reasons for
• 2:18
  that, right? We talk about equity.
• 2:19
  You have capital, you have to have land.
• 2:21
  I mean, if you can't even get land and it's very difficult to
• 2:25
  get into the industry, but it's also difficult to stay into the
• 2:28
  industry. So I think a lot of the
• 2:30
  conferences, at least that I have been attending, have talked
• 2:34
  a lot about estate planning and how important it is is if you
• 2:37
  have multiple kids, what what do you, how are you going to divide
• 2:40
  up the assets? Does each kid get the equal
• 2:44
  percentage of acres? OK, Well, what about if Bobby
• 2:46
  wants to sell his side and Susie wants to sell hers to a wind
• 2:49
  energy company and poor Little Joe wants to keep the family
• 2:54
  operation running, but he can't afford to buy out Bobby and Sue.
• 2:57
  So we're looking at these very delicate because you're not just
• 3:02
  dealing with finances, you're dealing with emotion.
• 3:04
  And when you are emotionally involved or attached to
• 3:07
  anything, it immediately becomes more complex, complicated.
• 3:10
  So we're looking at that. And then also the implementation
• 3:13
  of technology and how vitally important it is.
• 3:17
  Someone told me that this is a Donald Brown quote.
• 3:19
  So Donald Brown with the RA Brown Ranch.
• 3:22
  This was years ago, Donald, if you're listening.
• 3:24
  But this was a quote that I was told that he had said when his
• 3:27
  cell phones, the little iPhones had first start coming out.
• 3:30
  And he said you don't have to get a cell phone or a
• 3:33
  smartphone, but you're going to have to compete with people who
• 3:35
  do. And the person that told me that
• 3:37
  quote said that changed my perspective forever because you
• 3:41
  don't have to use technology on your operation, but you're going
• 3:45
  to have to compete with those who do.
• 3:46
  And that is saving time is saving money, You're being more
• 3:49
  efficient. You're honestly going to see
• 3:51
  more statistics that will give you clearer decision making
• 3:55
  opportunities than before. So it's it's a lot.
• 3:59
  It's a kind of like a hairball of a lot of things playing
• 4:01
  together to give you the one dish on the plate, which is
• 4:05
  trying to be sustainable and keep your operation running.
• 4:08
  Because I want to see more farms and ranches.
• 4:10
  I want to see longer standing operations.
• 4:13
  I don't want to see a for sale sign driving down your road.
• 4:16
  And I think it breaks a lot of our hearts to have that
• 4:19
  situation come about. But it's it's very important,
• 4:22
  you know, talking about being sustainable for our own food
• 4:24
  supply. You got to have people out there
• 4:27
  in the field working either what's row cropping or
• 4:29
  livestock. And so that's that's why we're
• 4:32
  talking about this. There are experts out there.
• 4:35
  I'm not claiming to be an expert.
• 4:36
  I am just from the perspective of talking with different people
• 4:40
  and producers as well as seeing more of the background of what's
• 4:43
  going on. It's a very important topic to
• 4:46
  talk about, especially coming into the new year of your state.
• 4:48
  In order, this is your little honey do list.
• 4:51
  Put kind of put it towards the top because you have no idea.
• 4:54
  You can have an accent tomorrow. Someone could be texting and
• 4:56
  driving and hit you while you're driving.
• 4:59
  An animal could flip back on you.
• 5:01
  We really don't know when your last day here on Earth is going
• 5:04
  to be, so let's at least have your family something to go off
• 5:07
  of, which is kind of morbid to think about, but it's very
• 5:10
  important. Yeah, it can be morbid, but we
• 5:13
  have seen it and lived it a few too many times to know that like
• 5:18
  this is something that we don't know when our last day is and
• 5:21
  it's better to have a prepare to stay a prepared plan, all of
• 5:24
  these things. And when we're talking about
• 5:26
  technology within it and sustainability and really just
• 5:29
  making this an operation that you can hand down because you
• 5:31
  could die today and hand your operation down and it absolutely
• 5:36
  just flop. Like, I don't you could have an
• 5:39
  estate plan put together. But like you said, if Bobby and
• 5:43
  Sue want to take their two parts and they want to sell it to the
• 5:46
  wind company and poor old Johnny boy can't, like he can't
• 5:50
  maintain it with just a third of the operation, right?
• 5:53
  Like so you could have this perfectly formulated plan and
• 5:57
  everything and have it all figured out, but at the same
• 6:01
  time, it needs to be a sustainable operation that you
• 6:03
  can hand down. It needs to be an operation that
• 6:06
  is current and that if you hand it down to that next generation,
• 6:10
  they are able to easily take it over.
• 6:12
  Because I think that we talked about it a lot, that there's
• 6:15
  some people that have been in this business for a long time
• 6:16
  and they can just drag their heels in and they can say, I
• 6:19
  could push it out for the next 20 years that I'm good.
• 6:21
  Like I've got 20 good years left in me and I'm just going to, I'm
• 6:24
  going to push through, right? Which is a mentality that a lot
• 6:27
  of us have in this ranching industry.
• 6:30
  But when those 20 years are up, who are you handing it down to?
• 6:35
  And are you handing an operation down to them that they are able
• 6:38
  to then take over and take it over well and make it survive
• 6:42
  for the next 60 years. And then another 60 after that
• 6:45
  and another 60 after that. Rather than just an operation
• 6:48
  that for the last 20 years, you just try to put your heels down.
• 6:52
  And you said, I can push through.
• 6:53
  And then all of a sudden you get handed down an operation to the
• 6:56
  next generation and they're like shit.
• 6:58
  Like we are still cataloging all of our taxes with receipts and
• 7:03
  an old Manila box and we are still doing this or this.
• 7:08
  And now they're getting the operation handed to them.
• 7:10
  And they're like, in order for me to make this sustainable for
• 7:13
  the next 60 years, I have to spend the next 20 implementing
• 7:16
  all of this technology, all of these new things.
• 7:18
  And I'm going to go bankrupt doing it because the previous
• 7:22
  generation made the decisions that they made 20 years ago to
• 7:26
  not implement, to not make a really good estate plan, to not
• 7:29
  have the hard conversations and really make this a sustainable
• 7:33
  operation that can be handed down for generations.
• 7:36
  Yeah, I think a lot of stuff comes to the woodworks when that
• 7:40
  passing of that family member comes about.
• 7:42
  We hear a lot of stories about how whether it's husband or
• 7:47
  wife, husband pass away, elderly leaves it to his wife and his
• 7:51
  wife's. Like, I don't know how like
• 7:52
  y'all the kids, y'all just run it.
• 7:54
  And honestly, and my dad's a financial advisor, there's been
• 7:57
  a lot of stories that I hear about mistakes being made.
• 8:02
  One on the list is like even different types of banks, bank
• 8:04
  accounts, if you do not have the certain protocols in place, your
• 8:09
  loved ones are not going to be able to access that money.
• 8:12
  And we all know the game of taxes, right?
• 8:14
  Like, that's a fine line, but you are living in a world where
• 8:20
  you can't just say, hey, I worked for this.
• 8:22
  I'm going to give it to my children.
• 8:24
  They will be taxed. You have to put it into a trust.
• 8:28
  You have to have things labeled under LLC's.
• 8:30
  What if you were to do that and you didn't do that and then your
• 8:35
  siblings sue each other and now because of your lack of clarity
• 8:40
  of whose property is what? And even just geography wise,
• 8:44
  like where is the boundary? Where is the fence line that
• 8:47
  this property ends and the new one begins?
• 8:49
  Money gets turns the worst out of people.
• 8:52
  I know a family very closely that they are doing this and it
• 8:55
  has cost hundreds of thousands of dollars because 1 sibling out
• 8:59
  of the four decide that he's just going to take everybody for
• 9:03
  as much as he can because he built his own businesses that he
• 9:06
  can pay himself and the legal fees as poor siblings.
• 9:10
  They can't even, they, they can't even fight it.
• 9:14
  What they, what property they used to be able to afford, now
• 9:17
  they can't because this one's dragging them all through court
• 9:20
  over stupid things. And you see and hear these
• 9:24
  situations a lot. And I just think that it's
• 9:28
  really important that if you have this type of environment,
• 9:33
  if you were in the AG industry, even if it's just lease land,
• 9:37
  you still have assets, you still have tractors, trucks,
• 9:39
  equipment. You need to have those things in
• 9:44
  place that when, if and when you pass away, that this is already
• 9:49
  very clearly labeled out, black and white.
• 9:52
  And the more clear you are, the better situation you were
• 9:56
  leaving and the less confrontation that you'll
• 9:58
  probably have amongst your children and amongst siblings
• 10:01
  than in the past. And I know it's easier said than
• 10:03
  done, but hire a professional. I promise you it is worth it
• 10:08
  because the worst thing you can do is thinking that you're
• 10:10
  stocking away money and that you are being strategic to give your
• 10:15
  kids a better life than what you had.
• 10:16
  I think we all want that for our children or future children.
• 10:20
  And the fact of the matter is, is you have to, there's so many
• 10:24
  legal hoops you have to jump through.
• 10:27
  I don't understand it, but I have to have talk to somebody
• 10:31
  who does because if you don't, if you do not, you are leaving a
• 10:36
  very high percentage of risk on the table for it to go away to
• 10:41
  the government in general or never even be accessible in the
• 10:44
  1st place. So as legal things are changing,
• 10:47
  laws consistently change state by state.
• 10:50
  Save your property bleeds into multiple states.
• 10:52
  That 10 acres in Oklahoma versus the thousands of acres and you
• 10:57
  have in Texas, it might change. And then people pass away.
• 11:01
  Say you're renting from somebody and they pass away and they give
• 11:04
  it to their kids and their kids is like, yeah, actually I don't
• 11:06
  want renters here anymore. Get out.
• 11:09
  So it's a very important of your livelihood and your
• 11:13
  responsibility. You owe it to yourself, you owe
• 11:15
  it to your family, and honestly, you owe it to your legacy.
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  One of my really good friends we've had on this podcast a few
• 12:10
  times said it perfectly that what is equal is not always fair
• 12:14
  and what is fair is not always equal.
• 12:16
  Yeah. And I think that that isn't a
• 12:17
  really important concept to take into planning your legacy and
• 12:21
  planning your succession planning and what you want to
• 12:24
  leave to that next generation. I will tell you what, we're
• 12:27
  going through it and my family ourselves, and I have never been
• 12:30
  more grateful to only have one sibling to have to figure this
• 12:33
  out with because God forbid I had multiple siblings to figure
• 12:37
  this out with. And it can just get really
• 12:40
  complicated and really complex. And it's one of those things
• 12:43
  that you've spent your entire life working on this land,
• 12:46
  working on this ranch, getting all of these assets.
• 12:49
  You don't want to have to hand it down to the next generation
• 12:52
  and they have to buy it all over again, right?
• 12:55
  Like that negates the whole purpose of building this legacy
• 12:59
  because you don't want to hand it to your kids and be like,
• 13:01
  well, you got to pay each other a couple $1,000,000 in order for
• 13:05
  yourself to actually be able to run it sustainable.
• 13:07
  That's not something that you actually want to hand down.
• 13:10
  And that's, that's not something that the next generation can
• 13:13
  sustain for the next 60 years. So we're going into this
• 13:16
  conversation and talking about, hey, what, what do you want this
• 13:19
  to look like? What does it need to look like?
• 13:22
  Have the hard, hard, hard, hard conversations with your family
• 13:25
  around the dinner table and start that discussion.
• 13:28
  But then also, how does technology play a role in that?
• 13:30
  And how do I need to be implementing technology now into
• 13:33
  my operation to make it sustainable, to make it
• 13:35
  something that we can hand down to the next generation?
• 13:37
  What areas do I need to be implementing these things to
• 13:41
  make it something that that next generation can come in and they
• 13:45
  can take it over without having to dump 1/4 of $1,000,000 into
• 13:49
  it to make it an operation that is sustainable for the future?
• 13:53
  Yeah, and and you hear people all the time.
• 13:55
  Well, I didn't know. Well, that's like you committing
• 13:58
  murder by accident. You say, I didn't mean to.
• 14:00
  I mean it, it doesn't change anything.
• 14:03
  You look at a lawyer and a judge and say, well, I didn't know.
• 14:07
  That's not going to save you anything.
• 14:09
  So being proactive in this standpoint is very, very
• 14:13
  important. And a lot of different resources
• 14:15
  are out there to help you be proactive that are easily
• 14:18
  understood. Like you said, the shoe box full
• 14:20
  of receipts, you know, that's that's a lot.
• 14:23
  And ink fades, house fires happen, floods happen.
• 14:27
  How many horror storage have you heard about people losing
• 14:30
  significant documents because it wasn't digitalized?
• 14:33
  So there's a lot of different apps out there, there's a lot of
• 14:36
  different programs, and I'm not advocating for one over the
• 14:39
  other, but go out there and see what could work for you and your
• 14:44
  operation. If you have digital records, the
• 14:47
  likelihood of those records being able to be passed out to
• 14:50
  either your kids or your spouse or your siblings if something
• 14:54
  were to happen to you goes up. And you were talking earlier
• 14:58
  about like that transition when the younger generation comes in
• 15:02
  for the older generation, which is fantastic.
• 15:04
  But when that happens, there is a gap of learning the ropes if
• 15:09
  they aren't working with dad or mom every single day prior to
• 15:12
  that. What bowl is that?
• 15:13
  How old is he? Where did he come from?
• 15:15
  OK. Are these his calves?
• 15:17
  Are those his cast? Well, I'm not sure where these
• 15:19
  cows come from. What's the genetic profile of
• 15:22
  these cows? Should we market these
• 15:23
  different? You need to know the historical
• 15:26
  context behind what is in existence today in order to
• 15:29
  fully understand and grasp what decisions to make you more
• 15:32
  profitable for tomorrow. And I think that's really
• 15:35
  important. And a great way to do that is
• 15:38
  through digital record keeping. Like I said, there's a lot of
• 15:41
  different opportunities and options out there.
• 15:43
  You can get very, very detailed or you can be very, very broad
• 15:47
  just to know that the more detail you put in, the better
• 15:50
  it's going to be. In all honesty, finances too.
• 15:53
  It's a better way for you to understand what your true break
• 15:57
  even cost is. I made a post talking about the
• 16:00
  cost of beef, of farm to table versus retail and it was so
• 16:04
  funny. Some of the comments in there
• 16:06
  were very passionate, but one of the most common things I saw
• 16:09
  was, well, it doesn't cost me that much to get my to grow my
• 16:13
  own beef. But this isn't just the
• 16:15
  harvesting side. I'm not talking about the cost
• 16:18
  of the animal, the cost of the cow, the cost of the bull, the
• 16:20
  cost of the veterinarian care, the cost of the medicinal
• 16:23
  applications that happen. If that animal had gotten sick,
• 16:25
  how many times did it get sick? I'm not talking about the leases
• 16:27
  and the land rent and the fuel that takes it to get over the
• 16:29
  hay, the cost of hay, the cost of the labor to go get somebody
• 16:32
  to put out the hay. Like there's a lot of external
• 16:35
  factors to to really know what your true break even cost is on
• 16:39
  these cows. If you were a Cal cap operation
• 16:41
  or soccer opera, stockers are probably a little bit better
• 16:44
  financially understanding of what that cost them and same
• 16:47
  thing with feedlots. But that cow calf, which is our
• 16:50
  biggest in terms of population sector of the market.
• 16:53
  And by population, I mean by the number of producers who are
• 16:56
  involved in Cal calf operations. There's a lot.
• 16:59
  It's not just one simple input and one simple output.
• 17:03
  So being able to have people come in and and take that place
• 17:07
  of leadership and then be able to fully understand what has
• 17:10
  been working and if the ranch is truly making money or not is
• 17:14
  vital for the survival of that ranch.
• 17:17
  And I think this is something that is so easy to put off,
• 17:21
  right? Like it is so easy to be like
• 17:24
  I'll get to it one of these days, Like I'll, I'll get my
• 17:27
  will done. I'll get my trust situated.
• 17:29
  I'll get those documents digitized.
• 17:31
  I am standing sitting in my studio right now in one of my
• 17:34
  projects over this Christmas break.
• 17:36
  These past two weeks has been to take all the documents that I
• 17:39
  have gotten into my possession over the past month and over the
• 17:44
  past six months, the year and digitize all of them.
• 17:47
  I am, I am staring at a stack of paperwork right now that needs
• 17:51
  organized, that needs digitized, that then needs organized in our
• 17:55
  digital records and that I then need to send my parents, my
• 17:59
  husband, and our heirs, like all of the people in our wills, all
• 18:04
  of the information on how to get into all of that.
• 18:06
  If that day comes and we need to sit down and we need to update
• 18:09
  that, my husband and I unfortunately have to sit down
• 18:11
  in the next week and we have to update our wills.
• 18:13
  We have to update all of these things that we have done but
• 18:16
  that need updated, but they are things that are so easy to put
• 18:20
  off. Like I can stare at that pile
• 18:22
  and honestly, if I didn't have it on my To Do List to get done
• 18:25
  this week, that pile has been accumulating over the past year.
• 18:28
  Emma, like I, it's so easy to put off.
• 18:30
  I live it all the time and I can only imagine how easy it is to
• 18:34
  put off if you haven't done it for the past 30 years, if you
• 18:37
  haven't done it for the past 10 years.
• 18:39
  I haven't done this for a year, one year.
• 18:41
  And I look at that and I'm like. Me every time.
• 18:44
  Really. Because I'm like, I'll be better
• 18:46
  next year. Yes, exactly, exactly, exactly.
• 18:52
  It's so, so easy to put off. Yeah, exactly.
• 18:56
  You need your passwords, like in an accessible spot where people
• 18:59
  that are in your will can access them.
• 19:01
  Because I have all of our records digitized, but my mom
• 19:04
  doesn't know the password to my Dropbox, my siblings don't know
• 19:08
  the password to my Gmail. To login, to be able to get into
• 19:11
  our mortgage account, to be able to pay our mortgage on our house
• 19:14
  and to be able to like understand all of that, right?
• 19:16
  So like from an aspect of just for my own sanity, I need to get
• 19:19
  all of this digitized. But then thinking about all of
• 19:22
  the assets that we are going to be leaving behind if something,
• 19:26
  God forbid, happens to all of us, they need it too.
• 19:29
  And they don't know that, hey, all the documents that I
• 19:32
  accumulate over the year, they go in that bottom left corner of
• 19:35
  that closet in my studio and there's no organization to them.
• 19:38
  They just get piled in there. And then I organize them at a
• 19:40
  later date, right? Like it's so, so easy to put off
• 19:45
  because I'm staring at it myself because it's not fun.
• 19:48
  I hate doing my taxes. I hate doing updating our wills.
• 19:52
  It's not fun to sit down with my husband and be like, so if we
• 19:55
  die tomorrow, like no one, no one wants to sit there and talk
• 19:59
  about that, right? Like it's morbid.
• 20:02
  It's not freaking fun. But it is part of our
• 20:05
  responsibility as business owners, as ranchers, as just
• 20:09
  responsible humans to do this. I'm a strong believer that if
• 20:13
  you were over the age of 18, you need to have a will.
• 20:15
  Like I do not care. What you do if you have nothing
• 20:19
  to your name, you still need a will.
• 20:22
  And if you have a ranching operation, you probably need a
• 20:25
  trust and you need beneficiaries in that trust and everything
• 20:28
  needs to run through that trust, not only from tax purposes, but
• 20:30
  just from everything else of ease of transport.
• 20:34
  When all of this inevitably does happen, because unfortunately
• 20:38
  we're all going to die, we just don't know when.
• 20:41
  And there are just so many things that need to get done
• 20:45
  that are easy to put off. And so if I had to say to like
• 20:49
  round out this episode of like, what do we need to be doing as
• 20:52
  ranchers, as business owners, It would be set up a trust, renew
• 20:57
  your trust, look at your wills, update all of your documents and
• 21:02
  digitize your documents. Because I had, like you said,
• 21:04
  Emma, I had no too many people that have gone through house
• 21:06
  fires or floods or all of these things and lost these documents
• 21:09
  and it's a pain in the butt to get them back.
• 21:12
  Like it's really hard. What else?
• 21:14
  What else am I missing? I mean, that's that's a big part
• 21:18
  of it. And just do it sooner than later
• 21:21
  if you don't try to take the cheap way out and do it
• 21:24
  yourself, unless you got a major in that or you have a son that's
• 21:28
  like the movie The Accountant. I really need you to bring in
• 21:33
  expertise on this because laws change all the time.
• 21:37
  It's very difficult to do things correctly in the way that you
• 21:40
  think that you are doing it. I can't tell you the amount of
• 21:43
  times on exams in college. I thought I'll nail that.
• 21:46
  And then I get it back from the perfect professional and that
• 21:51
  professors like, Nope, that's wrong.
• 21:52
  I was like, well, how he's like, well, you did this instead of
• 21:55
  that. It's like, oh, well, I didn't
• 21:57
  know. Again, that I didn't know.
• 21:59
  Does not work in legal court, does not work with the IRS, does
• 22:02
  not work with the government, and does not work in any type of
• 22:05
  legal sense. There's no backtracking.
• 22:08
  So we want you to be the most successful and sustainable and
• 22:13
  increase that longevity of that operation.
• 22:15
  So just hire a professional. It's going to be worth it.
• 22:18
  You don't have to worry about it.
• 22:20
  I don't file my taxes. I pay somebody ACPA that does it
• 22:24
  for me because he understands it.
• 22:26
  That's what he's good at for whatever reason belongs to me.
• 22:29
  He loves that. And I'm like I will pay you
• 22:31
  gladly pay you to take care of this.
• 22:35
  And he does a great job and I have 0, you know, hours of sleep
• 22:39
  that I lose worrying about if I did the wrong thing and then I
• 22:42
  get audited. So same thing y'all just hire
• 22:46
  the professional because as a daughter of a financial advisor
• 22:49
  you see a lot of train wrecks and I don't want that to happen
• 22:52
  to you because it is nasty, it's expensive and it's a disaster.
• 22:57
  But glad you're Live Today just so you can go do that.
• 23:01
  So ending on a less morbid note and also talk to your family
• 23:05
  members and see like what they are thinking or wanting to do.
• 23:09
  I am very against giving all of your land and splitting it up
• 23:12
  equally among siblings. I know it seems like the easy
• 23:14
  and the quote UN quote right thing to do, but if you have one
• 23:17
  child that is dedicating their entire life and career to
• 23:20
  working that ranch, I would seriously reconsider that
• 23:24
  thought process and go ahead and start reframing your mind to who
• 23:28
  is going to sustainably maintain the ranch.
• 23:31
  That's your prerogative, not mine.
• 23:33
  But as someone who sees this happen a lot, it breaks my heart
• 23:37
  because I'm first generation and it breaks my heart to see the
• 23:40
  hard work of some other people just go by while they're sibling
• 23:44
  who's been living in LA for the last 20 years sells it to the
• 23:47
  highest bidder. So you're talking about Central
• 23:50
  Texas earlier we see that in like San Marcos, New Braunfels
• 23:54
  area, all these ranches are now housing developments.
• 23:56
  And I don't want that to be you. So hashtag go AG and hashtag
• 24:01
  hire professional and get your affairs in order.
• 24:04
  Absolutely. I could not agree more.
• 24:07
  I know this is a very morbid topic, but like Emma said, hey,
• 24:10
  you're here to be able to do it. So that's a great thing.
• 24:15
  Emma. Exactly, exactly.
• 24:17
  Thank you as always for your time coming on and sharing your
• 24:20
  thoughts, your opinions to all of our listeners out there.
• 24:22
  Thank you for watching another episode of the Cali USA Daily
• 24:26
  Podcast. If you want to check out
• 24:28
  anything that Emma is doing on her advocacy work, anything
• 24:32
  else, all of her links are down below.
• 24:34
  So make sure you check all of those out and we will see you
• 24:36
  all next time on another episode.
• 24:38
  Have a good one y'all.