3 Reasons Why Estate Planning for Farmers Is Simpler Than You Might Realize
August 21st, 2014
As an Ohio farmer, you've been contemplating making plans for your estate. But you may be balking because the task seems difficult. It's not something you've done before. By contrast, planning for your farm -- planting, harvesting and taking care of your animals -- comes intuitively. It's simple, and you understand the process. You like doing what you do well.
At the same time, estate planning can protect the farm and business you've worked so hard to build and make things easier for your heirs and family.
There's good news: planning does NOT have to be an unlikeable process. Here’s why.
1. It Doesn’t Take as Long as You Might Think.
To you, the prospect of assessing your estate, drafting the proper documents and setting up estate planning procedures may seem intimidating. There are so many moving parts that you don't understand right now. So when you contemplate the totality of what needs to be done, it seems overwhelming. But this is only because you're unfamiliar with the process.
Think about it this way. Imagine if someone who didn't understand farming wanted to grow and harvest corn or raise chickens to sell eggs at a local farmer's market. That person would seem overwhelmed by all the tasks required; he wouldn't know where to begin. But you could approach that situation with ease because it's in your arena of expertise. It wouldn't take you much time, at all, to assess what to do, when and why.
Likewise, with the help of a knowledgeable legal advisor, estate planning can go quickly, because you can tap into that advisor's expertise.
2. Once You’re on Track, the Wheels Move Quickly.
Getting into action on any project requires momentum.
It takes energy to organize barn activities, when you get new animals or hire help. But once those barn processes are up and running, and your hired hands (and/or kids) know what to do and have autonomy to do what needs to be done, things get simpler. It's actually quite satisfying to watch the results, because you now have peace of mind about the process, which allows you to relax and concentrate on other important aspects of the farm.
3. You Do Not Have to Reinvent the Wheel.
Gudorf’s Client-Centered 7 Step Process leads clients through a free 90-minute educational workshop that can get you organized and clear about your goals.
Talk to an experienced estate attorney who works with Ohio farmers all the time. Gudorf Law Group offers support and knowledge you can trust. Call us to schedule your free 60-minute consultation right now at 877-483-6730. We're here to protect your farm’s bright future.