All in the Family: Estate Planning for Farmers
Many farmers find it difficult to get any interest from their children in continuing to run the farm business – which can cause some complications when developing the best estate plan for farmers looking to retire.
In general, farmers are in an interesting position: they are asset rich due to the increased value of their land but struggle with the increasing costs related to their farming activities.
However, if the farm holds significant value but the children are not interested in working the land, what is a farmer to do?