Agricultural law specialist offers a five step plan to estate planning
Estate planning can be overwhelming, but a Texas A&M AgriLife Extension Service specialist offers a guide to estate planning in five steps to help make the process manageable and ensure family legacies can be passed on as intended.
“Unless you have been through it, most people just don’t realize what kind of issues can come up and what all can go wrong if you don’t have a plan in place,” said Tiffany Dowell Lashmet, AgriLife Extension agricultural law specialist, Amarillo.
Lashmet told the crowd at the recent Southwest Beef Symposium in Amarillo the primary reason to get an estate plan is: “If you do it right, the next generation can keep on operating.”
While an attorney will be necessary through some of the process, she said, many things can be done in advance, at your own pace and for free. This estate planning in five steps is the best place to start.
Step 1: Create a Flight Plan for documents
Lashmet said it is important to start by establishing one location where all the documents someone might need are gathered if something should happen. This folder of documents should include: estate planning documents, information on..
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