Farm and ranch real estate and related livestock, equipment, and other personal property face unique challenges for succession and estate planning. There is a common misconception that federal estate taxes threaten farm or ranch property, preventing assets from getting to rightful heirs. Over the past twenty years, legislation has managed to ease the estate tax
Without a plan, your estate’s financial future and legacy for your loved ones become the administration of your state’s intestacy laws in the courts. Dying without an estate plan or a basic will creates confusion, work, and heartache for your family at a time when they should be mourning your loss. Aside from not having
The period following the death of a loved one is an emotional time. Dealing with the death and receiving an inheritance brings mixed emotions. The loss of a loved one is sad but the influx of funds can bring joy or relief. It can be hard to think and plan objectively. After receiving an inheritance,
When creating a special needs trust (SNT) for a loved one with a disability, the grantor (the person funding the trust) often serves as the first trustee. However, choosing a successor trustee is just as important. This person will manage the trust long-term and must act in the beneficiary’s best interest. Trusts usually operate on
Getting a divorce is rarely easy. It can be emotional, stressful, and complex. The decisions you make during this process will affect your financial future, family relationships, and long-term plans. For younger couples, child custody and support may be the biggest concerns. For older couples, the focus often shifts to homes, retirement accounts, trusts, inherited