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Farm Legacy Planning

Plan to Protect 
the farm

The biggest threat to keeping farms in the family used to be estate taxes. Now, it’s the expense that comes with a family member receiving long-term care. We can help protect your family from losing the farm due to taxes, probate, and long-term care costs, so you can keep it in the family for another generation.

The Right Firm 
for Your Farm

Long-term care costs can be as much as $12,000 a month. This means families without estate plans can end up selling the farm to cover those costs. AlerStallings has the experience to help ensure that your farm and family stay protected.

couple hugging

Keep Your Farm in the Family

A customized plan to save your farm doesn’t start with charts and forms. It starts with listening to what you want for your business and future generations.

 

With Farm Legacy Planning from AlerStallings, you get:

 

 

Pride

that the farm your family worked so hard to build is protected from taxes and long-term care expenses

Comfort

that comes with knowing your farm won’t end up in probate court

Certainty

that you’ve taken care of important estate planning basics

Farm Plans That
Change with Your Family

An estate plan that protects your farm is not something you set and forget. It needs to evolve as your family grows, assets are acquired and finances changes. That’s why we plan yearly reviews of your plan on the house. Our services include:

  • Farm Legacy Planning

    Make plans now to protect your family farm for future generations

  • Estate Planning Basics

    Be sure that you have key legal documents for every stage of life

  • Asset Protection Trust

    Give a trusted person the ability to make decisions for you if you can't

  • Probate Protection

    Shelter the farm from being lost to long-term care costs or financial risks

Hear From Other Farmers Like You

We’re not the only ones who believe in our approach. Thousands of Ohioans have worked with us over the years. Here are just a few comments from them.

” With AlerStallings you’re getting top-notch attorneys that are there for your family’s best interest, not theirs.”

-Don Brown, Piqua OH

” There was none of the arrogance you get with a lot of law firms. It was just a great experience.”

-Hal Ackley, West Liberty OH

“The Elder Law attorneys at AlerStallings made a scary process easy to understand. Our wishes were respected throughout the entire process.”

-Robert and Deborah Schmidt, Tiffin OH

” We would challenge anyone to find a more comprehensive firm in the practice of Elder Law. ”

-Emerson and Joanne Lake, Middlesburg Heights OH

” With AlerStallings you’re getting top-notch attorneys that are there for your family’s best interest, not theirs.”

-Don Brown, Piqua OH

” There was none of the arrogance you get with a lot of law firms. It was just a great experience.”

-Hal Ackley, West Liberty OH

“The Elder Law attorneys at AlerStallings made a scary process easy to understand. Our wishes were respected throughout the entire process.”

-Robert and Deborah Schmidt, Tiffin OH

” We would challenge anyone to find a more comprehensive firm in the practice of Elder Law. ”

-Emerson and Joanne Lake, Middlesburg Heights OH

Our Goal is to Help You

Reach Your Goals

 

We know estate planning can seem tricky and even intimidating. But our years of experience has helped us learn how to listen better, get to know our clients like family, and explain things in a way that makes sense. So you understand how you and your loved ones are protected.

 

 

 

What Are People Asking?

Having questions is common. And we want to make sure you understand what we do.
With that in mind, here are a few of the questions we hear most often.

Estate planning is generally the term used to describe the process of organizing and planning for when you become incapacitated and for the transfer of your wealth upon your death.  Essentially estate planning is two-prong: 1. Naming powerholders who can make decisions about your financial and medical state during your lifetime when you cannot or chose not to manage your affairs yourself and 2. Addressing what happens to your assets when you die.  Specifically, making sure that what you have goes to whom you want, in the amount and manner you desire, such as by outright bequests or the placing of assets in a trust for the benefit of the spouse, children or grandchildren.

A revocable trust can be revoked as long as those who granted the trust are of sound mind. Revocable trusts allow your assets to avoid the probate process, which is often a big financial burden on your estate. A Revocable trust provides more control over how distributions are made

An irrevocable trust cannot be revoked, so the document will continue to exist for as long as the terms of the trust dictate. This trust cannot be terminated prematurely. With careful drafting, an irrevocable trust can meet your goal (asset protection, tax planning) and allow flexibility in customization. When used properly, irrevocable trusts can be used to protect your assets from Long-Term Care.

Probably a lot more than you think. Rarely do people put pen to paper and add up all their stuff. This oversight leads to risk exposure to taxes, probate and long-term care costs you never even considered. And don’t forget to include you retirement accounts and cash death benefits from insurance too. I promise you Uncle Sam won’t forget, even if you forgot to plan.

This is a great time to start planning.