Building a Farm Succession Plan #5: The Four Legal Documents

An estate plan tells the government what you want done at your death, but it does not teach anyone how to run a farm, and that gap is where many families get stuck. In this episode of the five-part Nebraska FARMcast series on building a farm succession plan, Jessica Groskopf, Extension agricultural economist at the University of Nebraska-Lincoln, breaks down the four documents at the heart of an estate plan: a will, a power of attorney, a health care power of attorney and a living will. She explains probate, how a trust can help you avoid it, and why beneficiary designations and property titling deserve a careful review.Produced and hosted by Lexi Bodlak, Nebraska Land Link Program Intern.Find resources for farm and ranch transition and estate planning on the Center for Agricultural Profitability's website, https://cap.unl.edu/succession.