Management moment: Will and estate planning
What are your plans for your farm after you’re gone? Whatever the plan, you need a will and an estate plan to achieve it. The sooner you start, the easier the process can be.
- Succession and estate planning can be complicated, but the first step is an easy one: create a will.
- Find a lawyer with ag experience and explain your expectations for your will and your estate plan.
- Much of estate and succession planning means transferring assets while you’re alive.
- Your will and estate plan should be put together by professionals, but talk to your family first.