Family & business risk - Thoughts from the Vineyard

We all live in a risky environment,   some environments are just more risky than others.

Have you ever thought what might be if I didn't get home tonight …….?

How would the family, their lifestyle continue  …..?

Are you prepared?

Some points for consideration, these came from a Kelloggs Rural Leadership 2009 research paper by Michelle Wilson but are live and cross into any family business - townies included! 

• 40% of farming women had not discussed with their husbands what would happen to the farm if he was to die (non widows).
• 36% had not discussed their needs with their rural professional advisers (non widows).
• 80% of widows had life insurance - in hindsight only 20% found it was sufficient and 40% only had it because it was a condition of the borrowing by the bank.
• 40% of widows cited that the insurance should have provided to employ a farm manager for 12 months

So where does that put you and your family if you didn't go home tonight??  

Here at TvA we don't pretend to know it all, but we definitely have some thoughts for your consideration.

(And we are not gender biased - while the stats were for widows, we think the same quesitons can be pondered by both spouses equally)