Preserve Your Land and Business With Estate Planning for Farmers

Have you developed a transition plan for when it's time to pass down the farm?

Nationwide's Land As Your Legacy program helps provide security to families engaged in the agricultural community so that the land and businesses that you have worked for generations will be preserved and remain a legacy for generations to come. The program customizes estate planning for farmers, ranchers and others in agribusiness and offers help in the following areas:

• Farm transition planning – transferring the business to the next generation
• Business planning – maintaining profitability over time
• Retirement planning – ensuring money and structuring responsibility
• Investment planning – assisting with meeting education or financial independence goals, and help diversify investments
• Estate planning – distributing assets and tax payments

Put together a farm transition plan

Farmers have unique needs when it comes to financial and estate planning. They typically have a lot of non-liquid assets, such as the land and the equipment needed to farm that land. A successful farm transition plan can help you:

While legal structure, estate documents, business documents and financial instruments are all important to a successful farm transition plan, it couldn’t happen without people. Your farm agent can bring in a team of specialists from the following areas: life insurance, annuities, retirement plans, mutual funds, advanced consulting and independent agencies.