* Do you own titled property? Untitled property? Do you plan to pass that property to the next generation?
* Have you considered making a list of personal items and explaining why they are special to you as a gift to the next generation?
* Most elders have the goal of being fair in their distribution of property to the next generation. Have you considered whether equal or equitable best fits your sense of what is fair?
* Have you considered the method you might use to distribute property to the next generation: formal methods or informal, gifting, sales, donations, or other possibilities? Have you shared that with the next generation?

For Answers to these questions and much more see our recent newsletter and online module materials covering: the 2nd most important component of a legacy: Possessions of Emotional Value – Equal or Equitable?

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#AGLEGACY.org #FarmSuccession #EstatePlanning

A power of attorney is one of the most important estate planning documents you can create, but it is also one that can be misused. Unfortunately, a power of attorney in the wrong hands or with too much power can cause tremendous problems. The largest source of financial exploitation is family members, especially adult children, who were granted POA by their older family member(s) in their estate plans.

To learn more about AG LEGACY materials and for ideas on where to begin see AGLEGACY.org

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Saying “I’m sorry” is an act all too often overlooked in our daily interactions. There can be many obstacles that keep us from saying these simple words.

Should you apologize? You may feel that you don’t need to apologize or maybe that the other person should apologize to you.

Why is something that we are constantly reminding our kids to practice, so difficult for us to say?

An effective apology contains five elements, while an ineffective apology usually misses the mark on at least one of these areas:
• Acknowledge the Offense;
• Explain What Happened;
• Express Remorse;
• Offer to Make Reparations; and
• Listen.

AGLEGACY offers a perspective: AGLEGACY.org

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A will is a document that describes the last wishes of an individual after his or her death, including how property should be distributed and who should manage the estate of the deceased person. A will’s primary functions can be divided into two categories: (1) those directing the distribution of the decedent’s estate and (2) those nominating individuals to represent the decedent and his or her estate.

To learn more about AG LEGACY materials and for ideas on where to begin see AGLEGACY.org

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View a free recording about expressing sorrow in a legacy and other topics
…before time runs out!

AGLEGACY offers a perspective: AGLEGACY.org

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The law in some states allow a person who has signed a will to use a separate document (Personal Property Memorandum) to direct who will receive certain pieces of tangible personal property after death. Such a list provides a great deal of flexibility without the need to constantly update a will.

To learn more about AG LEGACY materials and for ideas on where to begin see AGLEGACY.org

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DO you see it as being weak or giving-in if you admit that you are sorry to someone else?
DO YOU feel that you don’t need to apologize or maybe that the other person should apologize to you?
DID YOU KNOW that sometimes it is about being the one to make the first move?
WHAT are some of the ­obstacles that keep us from saying I’m sorry?
DO you know what an apology does; what it does not do? Do you know how to offer a genuine apology; what elements a sincere apology must contain?

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Many people tend to avoid the discomfort of issues relating to death and dying, including estate planning. Because of this, more than half of Americans lack basic wills.

To learn more about AG LEGACY materials and for ideas on where to begin see AGLEGACY.org

#AGLEGACY.org #FarmSuccession #EstatePlanning

One of a parent’s greatest fears involves what will happen to his or her minor children in the event of the parent’s premature death or incapacity. It may be a good idea to think about what you would like to happen in a true “worst-case scenario” and undertake legal steps to plan for that situation before it happens.

To learn more about AG LEGACY materials and for ideas on where to begin see AGLEGACY.org

#AGLEGACY.org #FarmSuccession #EstatePlanning

The future success of a family business depends on the ability of the family to transfer management to the next generation, but only 1/3 of family businesses successfully transition. How will you make sure your farm or ranch successfully passes to the next generation?