That’s right. They bring the money when something bad happens that would otherwise mean the death of the dreams the farmer when their family began farming decades, in most cases generations ago. It is true that running any farm or business is always trial and error – you make clever assessments of opportunities and risk [...]
Read More...Cash will be required to settle the estates of farmers today and tomorrow just like it has been in the past. You spend your life locking up your assets in land, livestock, equipment, etc. and when death comes, virtually always premature and usually unexpected – that cash has to be unlocked. Some of it will [...]
Read More...Many people think that estate planning begins and ends with the writing of a Will. And even then only about a third of all Americans have Wills in place. Drafting a Will is an important first step in estate planning, but the process involves much more, such as financial, tax, medical and business planning. With [...]
Read More...The essence of estate planning is the transfer at death of assets from one generation to the next. In the case of a farm family the vast majority of what has been put together must stay together if the farm is to succeed. Let’s face it, you can’t sell assets that are directly or indirectly [...]
Read More...Successful farmers recognize the critical importance of their business accountants. First of all becuase of their insights into virtually everything financial. Their accountants are not considered solely someone who oversees the bookkeeping. Most enlightened business owners consider their accountant’s opinions on everything from tax issues, to financial planning, to their ultimate objective of total business [...]
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