As a rancher, you need to have a comprehensive estate plan that includes a medical directive, power of attorney and a trust. The plan needs to make sure you have an estate plan that covers all the property that you own.
Having a detailed estate plan makes sure that you save your family time and money when you are gone. It also helps you to protect the relationships in your family. It makes sure the land and equipment that you have pass onto your family in a manner that you want.
However, many farmers make a lot of mistakes that end up costing them. Let us look at the various mistakes that you need to avoid.