Farm Estate and Succession Planning

Continuing with the “estate planning overview” discussion, there are other documents that an estate plan should include: a durable financial power of attorney, a health care directive and a living will. A durable power of attorney allows you to appoint someone to take care of your financial affairs should you be unable to on your own. A health care directive allows you to appoint someone to make decisions regarding your health care should you be unable to on your own. A living will is your advanced directive on whether to continue or cease artificial life continuation procedures should you be near death. Each state has their own specific rules regarding these documents. Accordingly, it is important to talk specifically with your estate planning professional when handling these.

 

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