Is Estate Planning Worthwhile?
You bet it is as long as you do it and you do it right! By Ken Lassen, Vice President, Agribusiness Financial Services Your time is valuable, and so is the money you work hard to earn. That’s why you probably want to get the maximum benefit out of your hard-earned assets while you are alive, while still providing for the future of your family beyond your lifetime. Chances are, you’ve heard about “estate planning,” but you probably wonder if it’s worth your time, effort and cost. And where do you start? To answer these questions, let’s take a look at a typical farm family situation Meet Mom and Dad Mom and Dad owned and operated a dairy farm on a quarter section of good farmland near a growing community. They were in their mid-70s and had three grown children, all married and involved in the operation. Back in the mid-90s, Mom and Dad made vague plans to retire “soon.” At the time, their entire estate planning consisted of a couple of wills prepared in 1965! That was all. Mom and Dad’s
