A sound transfer and estate plan should accomplish three primary goals:

• Develop and transfer management skills and responsibility
• Transfer ownership of the agricultural operation, land and other assets
• Ensure financial security and peace of mind for all generations

Creating a sound transfer and estate plan will require an investment of time and money. But leaving your family and your land without a plan will eventually cost much more—maybe even cost you your farm or ranch. So call a trusted advisor, convene a kitchen-table meeting, put together your planning team and get started—the sooner the better.