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Lucy Meyring

Lucy Meyring
Lucy Meyring, who along with her husband Danny, operate Meyring Livestock Co., a fifth-generation ranch in Colorado's North Park, near Walden.

She told cattlemen attending the recent Range Beef Cow Symposium in Mitchell, NE, that only 3-5% of farm and ranch families in Colorado have a completed estate plan. "Research indicates that 42% of first-generation family farmers haven't discussed the subject of succession even with their own spouses. And 63% have not talked about it with their own children. Only 16% have included their sons and daughters in a succession plan," Meyring says. "And yet, most people will tell you the farm or ranch will be their source of retirement income."

Meyring,A Succession Plan & An Estate Plan