Today, my guest is Shelby Bothun. We don't really spend that much time talking about the substitute aspects of law, but Shelby is a lawyer in North Dakota who focuses on estate planning in the agricultural community. And owes it to her roots as an agricultural insurance agent and the fact that her family has been in the agricultural business for a couple of generations now. What I find fascinating is to learn how much I didn't know, frankly, about the agricultural business on a large scale in the Midwest. Many people have this romanticized version of what a farmer or what it means to be a farmer, but really, I should think, more along the lines of a big corporate business owner, because that's what farmers are. This is a fascinating conversation, and I hope you enjoyed it as much as I did.
In this episode, Neil and Shelby discuss:
- Why an agricultural economics degree is so marketable in the Midwest.
- The importance of service in an industry with identical products.
- Facilitating the transfer of wisdom, not just assets.
- Working around the crop seasons to best serve clients.
Key Takeaways:
- There are generational benefits to having a proper succession plan for your agricultural estate.
- The farm transition is going to be emotional for both parties. Working with an estate planner can help to ease the transition and make it more successful.
- Get an undergraduate degree in what you are passionate about and want to focus on in law school.
- In a farming community, land is the most valuable resource.
"Most farmers want to leave a legacy. It is a livelihood, it is a career, it is not just a job." — Shelby Bothun
Get in touch with Shelby Bothun:
LinkedIn: https://www.linkedin.com/in/shelby-g-bothun-esq-21428316a/
Website: http://www.progressiveag.com/
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Get in touch with Neil:
Website: https://thelawentrepreneur.com/
Twitter: https://twitter.com/lawentrepreneur
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LinkedIn: https://www.linkedin.com/in/tyralawfirm/
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