For the first time since 2020, the number of Americans with a will has declined, with only 32 percent of Americans having an estate plan in 2024- a six percent decline from last year. Having an estate plan for farmers and ranchers is especially important, as it protects the future of the operation. AARP Oklahoma State Director Sean Voskuhl said there are three things to consider for the farm when writing a will.
Voskuhl said the main reasons people put off an estate plan is they either haven’t got to it yet or they think they don’t have enough assets to leave to anyone.
Voskuhl added that there are a few changes in the tax code on the horizon to keep in mind as well.
For more information, visit www.aarp.org/aarplive.
