Regardless of occupation or family status, all Tennessee residents should create an estate plan. That said, certain types of businesses require a specialized approach, and the legal guidance of an attorney who is familiar with the industry in question. Ranchers are a prime example, as their financial matters and asset base is often varied and could lead to estate complexities.
When searching for the best possible attorney/client fit, ranchers should be prepared to meet with several candidates. During those meetings, it can be helpful to have a list of questions at the ready. One of the most important involves how much of an attorney's practice is dedicated to creating agricultural estate plans, and how many of those plans are drafted in the average year.
It is also important to ask about an attorney's continuing education efforts, and how he or she stays on top of changes in estate planning legislation. It is a good idea to ask how much time the attorney might need to complete the process, and the steps involved. This is also a great time to ask for an idea of how much the estate planning package might cost.
By taking a proactive stance in the matter, Tennessee ranchers can work toward finding an estate planning solution that covers all the bases. The first step in that process is to select the best possible attorney. A good attorney/client fit can help ensure that all estate complexities are addressed and that the process is both expeditious and productive.
Source: cattlenetwork.com, "Estate Planning: Choosing an attorney", Heather Gessner, Aug. 19, 2015