What happens when you're gone
NAPERVILLE – Art Littlefield, estate and succession planning specialist with Lincoln Financial Advisors, believes too many farmers don’t think about what will happen after they are gone.
“I can’t tell you the number of times that people actually said I don’t have to worry about it because I won’t be here,” Littlefield said.
Planning is something everyone needs to do and it is a process – not a one-time occurrence. Littlefield believes those in the farming community should be talking with someone specializing in trust and estate planning.
“Somebody shouldn’t be telling you what to do. They should be showing you the options available based upon your specific situation and what your goals are, both for today and the future.”
Family conflict and troubles down the road can always be avoided by planning ahead. There are often problems between those on the farm and those who live off of the farm. This includes not only children but spouses as well.
“Let people understand what you’ve learned in life, what’s important to you and why you’re making the decisions,” adds Littlefield.
The agribusiness services department of Lincoln Financial Advisors can be accessed at www.LincolnAgServices.com. For more information, contact Littlefield at 630-408-0110 or at art.littlefield@LFG.com.