Why Do We Not Have an Estate Plan?
While there seem to be no exact statistics, it is anecdotally known — from talking to financial planners, attorneys and other professionals — that about half of our farmers and ranchers have an estate plan completed. Most professionals will indicate, “it is a short half!”
This begs the question: why do we put off estate planning? There seems to be some underlying emotion and thought to this. For quite a few farmers and ranchers, the thought of retiring is likely not something that they want to consider. So, if I’m not retiring, why would I complete an estate plan?