Farm Horizons
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the process takes from 1.5 to two years, depending on
how complicated the farming operation is. It can be
completed sooner in the case of illness, a small estate,
or a family that is very motivated to move quickly, he
said.
Hire professional help
Because of the legal documents needed and the financial implications to consider, a farm transfer plan
will have to involve a team of professionals – an attorney, accountant, financial planner, banker, insurance
agent, and possible others.
“A will or trust, power of attorney, health care directive, and HIPPA designations, those are things that are
extremely formal. They are legal and do require legal
work to be done,” Hachfeld said.
When Meyer has finalized a plan with a farm family,
his next step is t