GROW MEMBERSHIP
Key Terms and Definitions
Learn the key terms that advisors use when structuring an estate and farm succession strategy.
Estate Terms
Financial Power of Attorney
Healthcare Power of Attorney
Individual Ownership
Irrevocable Trust
Joint Tenancy
Traditional Will
Revocable Trust
Stepped Up Basis
Tenants In Common
Trustee
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FARM SUCCESSION TERMS
Buy / Sell Agreement
First Option to Buy
First Right of Refusal
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FINANCIAL TERMS
Applicable Federal Rate (AFR)
Guaranteed Universal Life
Term Insurance
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Coordinate the tools, concepts, and strategies to set up your farm succession plan.
