Estate Planning Guide for AOA Members
If something happens to you, will someone else be able to easily step in to take care of your financial affairs and your ranch? Will someone else be able to identify your alpacas if needed?
Planning for a serious illness or death doesn’t mean it will happen, but too often people hope that if you don’t plan for it, serious illness or death won’t happen. Planning will make things much easier for the individual managing your affairs if you are mentally incapacitated and for your survivors if you die. The Government and Industry Relations Committee has reviewed multiple estate planning sources and developed the attached extensive outline for you to use. It is a very comprehensive planning guide, so many of the elements may not apply to your personal situation.
For your information, the AOA online system offers three types of accounts: Personal, Farm, and Business. With a personal account, all members attached to the account will have their names printed on the AOA registration certificate, so it can be expensive and time-consuming to make changes, such as adding a user, removing a user, or making a name change. With both Farm and Business accounts, the name of the farm or business is listed on the AOA registration certificate, and you can easily add or remove users, or make changes to the users’ names without the need to reprint every certificate. For more information, or to discuss how to make a conversion from a personal account to a farm or business account, please contact the AOA office.
One of the benefits of alpaca registration is the ability to add a microchip number to the alpaca’s information. In the event of a disaster, or other event that requires someone to identify your alpacas, the microchip information can be used to search the AOA database to identify the alpaca and owner.
Pre-planning for Death/Mental Incapacitation Disclaimer
Alpaca Owners Association, Inc. is not giving out legal advice with this planning guideline and should not be relied upon in lieu of qualified advisors.