Advanced strategies for lawsuit protection, estate planning | TSLN.com

Advanced strategies for lawsuit protection, estate planning

Amanda Nolz

Photos by Amanda NolzIt's been said that two-thirds of all family ranching operations don't make it past the second generation. With that in mind, G. Kent Mangelson, CFP, Senior Advisor for the American Society for Asset Protection, offers estate planning tips for farm and ranch families.

For many ranching families, the cattle operation and homestead have been in the family lineage for generations. These families that survive the transition from one generation to another are also those that are finding success in struggling markets. These families know the importance of creating a plan, communicating the structure of that plan to all involved parties and sticking to that plan.

Yet, it’s been said the two-thirds of all family ranching operations don’t make it past the second generation. G. Kent Mangelson, CFP, Senior Advisor for the American Society for Asset Protection (ASAP), wants to make sure that farm and ranch families stand a chance in the upcoming years, and that means knowing how to protect the operation against lawsuits and taking the time to adequately prepare an estate plan for the future.

For many ranching families, the cattle operation and homestead have been in the family lineage for generations. These families that survive the transition from one generation to another are also those that are finding success in struggling markets. These families know the importance of creating a plan, communicating the structure of that plan to all involved parties and sticking to that plan.

Yet, it’s been said the two-thirds of all family ranching operations don’t make it past the second generation. G. Kent Mangelson, CFP, Senior Advisor for the American Society for Asset Protection (ASAP), wants to make sure that farm and ranch families stand a chance in the upcoming years, and that means knowing how to protect the operation against lawsuits and taking the time to adequately prepare an estate plan for the future.

For many ranching families, the cattle operation and homestead have been in the family lineage for generations. These families that survive the transition from one generation to another are also those that are finding success in struggling markets. These families know the importance of creating a plan, communicating the structure of that plan to all involved parties and sticking to that plan.

Yet, it’s been said the two-thirds of all family ranching operations don’t make it past the second generation. G. Kent Mangelson, CFP, Senior Advisor for the American Society for Asset Protection (ASAP), wants to make sure that farm and ranch families stand a chance in the upcoming years, and that means knowing how to protect the operation against lawsuits and taking the time to adequately prepare an estate plan for the future.