Here are some issues to seriously consider:

1. Do you have an estate plan?
2. Do you have a current will?
3. Do you have a retirement plan? For you and your spouse?
4. Have you arranged a fair settlement for farming and non-farming children?
5. do you have a clearly documented plan to determine who will control and manage the farm?
6. Is there a business plan in place to leave the business financilally secure?
7. If something were to happen to you, is there a secure source of income for your spouse?

Why Farmers Need Estate Planning

• To reduce or postpone income tax while living
• To reduce or eliminate income taxes and expenses at death
• To provide the orderly distribution of assets upon death
• To provide for fair or equitable distribution to non-farming family members
• To ensure the family business/farm:
• stays intact for family or
• if none of them is planning on farming: to ensure they are not having to sell it after your death.
• To verify that the current Will coincides with objectives and goals
• To ensure that the current Will does not create additional costs or problems
• To ensure maximum advantage is taken regarding tax structures
• Outline expenses and taxation upon death
• Provides alternatives for passing down family business/farm
• Tailor-made to your family, goals and situation

It is important to note that each person's situation is unique. The proper planning process and my experienced team will assist in providing a solution built "just for you".

Please click here to get your FREE consultation to ensure your assets and estate is manage effectively during your lifetime and after your death.