Guidance And Direction That Protects Your Legacy And Continues A Tradition
Whether your farm or ranch has been around for several generations or you’re a first-generation farmer, we’re here to help you plan for what happens to your operation after you’re gone. Nebraska Asset Protection Group can help ensure the seamless transition of your farm or ranch to the next generation. We will think about what’s in the best interest of your farm or ranch and collaborate with other trusted advisors to coordinate a team of essential experts who share the common goal.
What We Offer
Land As Your Legacy
Today it is often difficult for children of farmers to take over the family farm. As a Nationwide farm succession advisor we’ll give you the tools you need to hold a family meeting so you and the next generation can decide who’ll be running operations in the future.
When you first meet with us, we’ll walk you through the 5 key elements of the transition-planning process:
- Succession planning
- Business planning
- Risk management
- Financial independence
- Estate planning
Heres Our Process
1. Farm succession planning
In this phase, we’ll think about what’s in the best interest of your farm or ranch. We’ll give you the tools you need to hold a family meeting so you and the next generation can decide who’ll be running operations in the future.
2. Business planning
We’ll examine your operation and evaluate its profitability and health. That way, we can help you determine if the farm can support or grow to support multiple families in the future.
3. Risk management
You need to identify, address and prepare for risks. And we can help. We’ll discuss if you should have a plan in place for long-term care expenses, or if supplemental income or insurance is needed by either generation.
4. Financial independence
This phase includes a discussion about the current generation. We’ll help you determine if you can afford to retire and perhaps transition to a mentoring role for the next generation. In this scenario, the current generation helps transition agreements and relationships, while the new generation learns the intricacies of farm management.
5. Estate planning for farmers
In this last phase, our goal is to have a fully-formed plan in place for you. That way, you can work effectively with an attorney to create any documents you may need, such as business documents or beneficiary designations.
Ready To Talk?
Click the link below and fill out the contact form to get started. A licensed advisor will contact you directly to complete a free confidential review of your unique situation.