But there’s more to your management plan than just the physical facts of your Tree Farm. There are personal and financial needs to consider as well. As you take time to revisit your plans for your property, also revisit your family’s involvement and hopes for the future.
Death, divorce, illness, marriage and new additions to the family can all mean increased expenses, and more need for income from your Tree Farm. Unfortunately, many unprepared woodland owners find themselves forced to sell wood products before their maturity or even sell part of their Tree Farm to keep up with life events. By considering these events—or the possibility that they may happen in the coming year—while reviewing and updating your management plan, you create an opportunity to look for new markets and plan for additional harvests as needed.
If other members of your family are becoming more involved in managing your Tree Farm, you may want to discuss their goals and note them in your management plan as well, along with any activities that can help prepare you for transferring or gifting your property.