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Planning for the Family Farm, Elder Law Attorney, Woodstock, GA


Farmers, more than most people, need to have carefully thought out succession and estate plans.

Most farm operations in the U.S. are still classified as family-operated businesses. When some people think of “family farms”, they think of small operations that can easily be handled by one or two people.

However, people who live in rural areas, especially farmers themselves, know that family farms are much bigger today than they are in the popular imagination.

Family farms can be gigantic operations with many employees. Farmers have to know how to navigate often complex government regulations, lending practices and supplier requirements, all while keeping an eye on volatile commodity prices.

That means farmers need to plan their estates carefully, if they want the farm to keep operating after they pass away.

This topic was recent taken up by the Wills, Trusts & Estates Prof Blog in “I’d Bet the Farm on It!

The most important thing for farmers to do is often the most difficult. That is figuring out who is going to inherit the farm and continue running it.

Not every family member will have the knowledge or desire to run a farm. Sometimes, it might even be necessary to make arrangements for someone else to operate the farm, after the owner passes away.

Once it is determined who will run the farm, figuring out how others in the family will receive a fair inheritance is necessary to avoid any family fights.

As the bulk of most farmers’ assets are tied up in their farms, this is where estate planning needs to come into play.

An estate planning attorney can devise methods to ensure that everyone in the immediate family receives a fair inheritance, while still leaving the farm operations to the one person who is capable of actually running the farm.

Reference: Wills, Trusts & Estates Prof Blog (May 19, 2017) “I’d Bet the Farm on It!

 

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I heard Cindy’s presentation at a Senior Luncheon at my church, and was very impressed. She helped my daughter and me understand many aspects of elder law. Josh has also been very helpful in my planning to enter an independent living situation . I have told many friends about them.

- Charlotte

The very best elder law attorney and staff anyone could ever ask for! I have referred a number of clients to Cindy and she never disappoints. She is kind, caring, and extremely thorough in making sure everything is completed as it should be. I highly recommend Cindy for anyone needing lawyer services; she truly goes above and beyond for every client she helps and has had a huge impact in so many peoples’ lives. Thank you, Cindy and staff, for everything that you do- I’m so glad to know you!

- Kerri

Cindy and the Nelson Elder Care Law team are trustworthy and helpful. They are the experts in elder care law. At Leaf Cremation, we entrust our families to the care of the Nelson team when their services are needed.

- Pierce

Josh Nelson, and his staff, have been amazingly helpful to our family. The ins and outs of nursing homes, the rules and regulations that govern Medicare and Medicaid are daunting and the folks at Nelson Elder Care Law have been informative, responsive, and above all, empathetic. I cannot emphasize enough how their service has taken a weight off of our shoulders especially during a world pandemic that has targeted nursing homes across our country. I highly recommend retaining Josh and his firm!

- Marcia

I had a simple legal question to them that I needed answered and they very helpful in giving me the information I needed. I highly recommend them and will reach out to them if I need more advice or assistance. Thank you for taking your time to just answer a couple of questions I had!

- Ben