Founder of Braintrust Ag and agri-business advisor Clint Fischer says farmers and ranchers have a hard time making estate planning a priority and taking the first steps. “It takes time, uncomfortable conversations, it costs money to engage professionals putting together a plan so it’s often an important thing that gets deprioritized.” He does see more creative ways to keep the operation going into the future including long-term leases, selling assets to successors in stages, and other solutions to make transitions easier. “Whether you have a plan or not, the state has a plan for you. I would say 99 percent of the time your assets won’t be distributed how you want.” Listen to the full conversation with Clint Fischer here.
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