Farmers and Ranchers
Farmers and ranchers have complex estate planning needs. They may have children who want to continue the farming or ranching business and children who do not. They will be forced to decide who inherits the land, the equipment, the livestock, and other assets, all the while trying to keep things fair and equal. As a result, many farmers and ranchers cannot decide what to do and end up without any estate plan at all. For others, this same circumstance can occur with the family home, rental properties, or the family business.
Fortunately, there are many estate planning options available to farmers, ranchers, and others that will allow you to fulfill your ultimate goals. No matter your occupation or asset mix, you need to work with a team of experts (including attorneys, accountants, bankers, insurance specialists, and financial advisors) who are familiar with the nuances of estate planning to ensure that the plan will work as anticipated when it is needed.