Your Money: Hedging your assets by using a guaranteed product

Michael Baron
Dec 30, 2019
Dec 30, 2019

Ice creates crystal-clear fantasy — Freezing rains make for icy conditions recently in southern Wisconsin but these trees are able to bear the extra weight of ice on their branches. A farm reflects a winter wonderland, located off Mineral Point Road near Middleton in Dane County, Wisconsin.
Harmony Girl Productions/For Agri-View

Facebook
Twitter
Bluesky
WhatsApp
SMS
Email
Print
Save

Dear Michael: We have set up our estate plan so our farming child will receive a large majority of the land assets – as well as machinery, buildings, etc. – if we were to die before he is able to replace them himself.

kAmsFC:?8 E9:D E:>6[ H6 H6C6 =F4<J 6?@F89 E@ 92G6 >@?6J D6E 2D:56 :? E96 DE@4< >2C<6E 2?5 E9:D 92D ?62C=J 5@F3=65 @G6C E96 A2DE `_ J62CD] (6 766= =:<6 E9:D :D DF77:4:6?E 7@C @FC ?@?\72C>:?8 52F89E6CD 2?5 E96:C 72>:=:6D]k^Am

kAms@ J@F E9:?< E96 DE@4< >2C<6E – H:E9 E96 C6EFC?D H6 92G6 366? 86EE:?8 =2E6=J – H:== 36 =2C86 6?@F89 E@ AC@G:56 D@>6 >@?6J 7@C @FC 72C>:?8 D@?nk^Am

kAmk6>m– x? %96 $E@4< |2C<6Ek^6>mk^Am

kAmkDEC@?8ms62C x? E96 $E@4< |2C<6Eik^DEC@?8m xE 92D 366? 7F?[ D:?46 a__g 2?5 E96 9@FD:?8 4C:D:D[ E@ D66 E96 C6EFC?D @? E96 DE@4< >2C<6E] w2G:?8 2 =:EE=6 >@?6J :? E96C6 >JD6=7[ :E’D 7:?2==J :?E6C6DE:?8 E@ @A6? FA >J DE2E6>6?ED 2?5 D66 9@H E9:?8D 2C6 8@:?8] %96 s@H y@?6D[ :ED6=7[ :D FA `h]dT 7@C E96 J62C] s6A6?5:?8 @? H92E 7F?5 J@F H6C6 :?[ J@F D9@F=5 92G6 366? 23=6 E@ 2E =62DE >2E49 E96 s@H]k^Am

kAmpD 2? 6DE2E6 A=2??6C[ >J ;@3 :D E@ 96=A J@F 4@?D6CG6 2DD6ED 7@C E96 ?6IE 86?6C2E:@? 3J AC@G:5:?8 25G:46[ 96=A:?8 J@F >2<6 E96 E@F89 564:D:@?D[ H@C<:?8 H:E9 J@FC 2EE@C?6J E@ AFE J@FC A=2? :?E@ =682= 7@C>2E 2?5 36:?8 E96C6 H96? :?6G:E23=6 492?86D @44FC]k^Am

kAmpD DF49[ x AC@G:56 AC@5F4ED DF49 2D :?56I65 2??F:E:6D E@ 4@?D6CG6 2DD6ED 7@C :?4@>6 7@C J@F =2E6C[ 7@C 962=E9 42C6 4@DED =2E6C 2?5 E@ AC@G:56 7@C ?@?\72C> 96:CD] %96D6 2C6 8F2C2?E665 :?G6DE>6?ED – 8F2C2?E665 ?6G6C E@ =@D6 >@?6J D@ :E >66ED >J 4C:E6C:2 @7 ?@E 82>3=:?8 H:E9 >J 4=:6?ED 2DD6ED]k^Am

People are also reading…

Screwworm spreads into 4 more counties
Longtime dairy farmer leads state dairy organizations
Better days for beets
Iowa dairy farm engages visitors while expanding operations
Illinois brothers carry on dairy tradition
Interseeding outcompetes weeds, has host of other benefits
Simple changes make the difference in cooling off cattle
Revamped program offers one-year contract for cover crops
Cereal rye smothers weeds
Geopolitical issues influencing soybean market
How Mitchell-based Trail King powers heavy haul across North America
Downpour floods fields in south-central North Dakota as farmers finish planting
Competition and camaraderie
Happy Rock 4-H’er delivers buckets of smiles in Jefferson County
Montana Department of Livestock and MSU Extension issue guidance after New World screwworm detected in Texas

kAm{2E6=J[ H6 92G6 366? FD:?8 2 >6E9@5 :? E96 :?56I6D H96C63J >J 4=:6?ED C646:G6 g_T @7 E96 8C@HE9 :? E96 :?56I6D DF49 2D E96 s@H y@?6D] {@D:?8 a_T >:89E D66> =:<6 2 =@E[ 3FE E96 FAD:56 :D :7 E96 >2C<6E 8@6D 5@H? E96 7@==@H:?8 J62C[ J@F =@D6 ?@?6 @7 J@FC AC:?4:A2= ?@C E96 g_T @7 E96 82:?D J@F 925]k^Am

kAmu@C 6I2>A=6[ S`__[___ E9:D J62C :? E96 s@H H@F=5 92G6 ?6E S``h[d__] x? E96 :?56I 2??F:EJ[ J@F H@F=5 92G6 C646:G65 S``d[e__ – 2 5:776C6?46 @7 Sb[h__]k^Am

kAm}6IE J62C[ :7 E96 >2C<6E D=:56D 3J a_T[ J@FC >@?6J :? E96 >2C<6E H@F=5 ?@H 36 H@CE9 Shd[___ 4@>A2C65 E@ DE:== 92G:?8 S``d[e__ :? E96 2??F:EJ] x7 E96 >2C<6E E96? 8@6D 324< FA 3J a_T[ J@F H@F=5 92G6 S``c[f__ :? E96 >2C<6E 3FE J@FC 2??F:EJ @?=J H6?E FA 3J g_T @7 E96 :?4C62D6 @C `d]eT] w@H6G6C[ E9:D 2>@F?E :D 2AA=:65 E@ E96 S``d[e__ 2>@F?E:?8 E@ S`bb[e__ :? E96 :?56I 2??F:EJ] *@F 42? 8@ FA 2?5 @?=J 3J g_T @7 E96 E@E2= 3FE J@F 42? ?6G6C 8@ 5@H?]k^Am

kAm%96 DE@4< >2C<6E :D 2== 23@FE >@?E9=J :?G6DE:?8] *@F’== 3FJ 9:89 D@>6 >@?E9D[ J@F’== 3FJ =@H D@>6 >@?E9D 3FE @G6C E96 =:76E:>6 @7 >@?E9=J :?G6DE>6?ED 6IA6CED D9@H J@F D9@F=5 >2<6 23@FE fT @? 5@==2C 4@DE 2G6C28:?8]k^Am

kAmw@H6G6C[ @?46 J@F C6249 2 46CE2:? 286 2?5 E96 >2C<6E C62496D 2 46CE2:? A@:?E[ :E 364@>6D >@C6 =:<6 >2C<6E:?8 J@FC 8C2:? @C =:G6DE@4<] (96? E96 >2C<6E :D 8@:?8 FA[ J@F H2?E E@ D6== 8C25F2==J D@ E92E J@FC 82:?D 2C6 =@4<65 :? – 6G6? :7 J@F 5@ D6== D@>6 62C=J 2?5 5:5?’E 86E E96 9:896DE AC:46] w@H6G6C[ J@F 5:5?’E 9@=5 6G6CJE9:?8 F?E:= :E :?6G:E23=J 5C@AA65 6:E96C] %9:D :D 42==65 9658:?8 7@C E96 =2J>2?]k^Am

kAmx 25G:D6 >J 4=:6?ED E@ 96586 E96:C 2DD6ED 3J FD:?8 2 8F2C2?E665 AC@5F4E =:<6 E96 g_T :?56I 2??F:EJ] xE’D 2 8@@5 :562[ 3J E96 E:>6 J@F C6249 ed @C D@ E@ E2<6 D@>6 @7 E96 8C@HE9 J@F’G6 6IA6C:6?465 2?5 AFE :E 2D:56 :? 2 D276 :?G6DE>6?E E92E DE:== D92C6D :? 2 =2C86 A2CE @7 E96 82:?] %96? :7 E96 >2C<6E EF>3=6D[ J@FC 6DE2E6 A=2? 5@6D?’E 92G6 E@ EF>3=6 H:E9 :E]k^Am

kAm%96J H@?’E >2<6 J@F C:49 @G6C?:89E[ 3FE E96J’== >2<6 DFC6 J@F’C6 ?6G6C 3C@<6]k^Am

kAmk6>mr@?E24E |:2496= q2C@? 2E `cac (] r6?EFCJ pG6] $F:E6 a_g[ q:D>2C4<[ }s dgd_` @C 6>2:= k2 9C67lQ>2:=E@i<66AE9672>:=J72C>o8>2:=]4@>Q E2C86ElQ03=2?<Qm<66AE9672>:=J72C>o8>2:=]4@>k^2m]k^6>mk^Am

Michael Baron provides estate planning guidance at Great Plains Diversified Services in Bismarck, North Dakota. Email him at KeeptheFamilyFarm@gmail.com.