Ag Infotainment
Minnesota
Joined July 2023
- Tweets263
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- Followers146
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Midday Thoughts... retweeted
See you tomorrow for an interactive exchange with Claudia Sahm and me. Register here to join: stonex.wistia.com/live/event…
Midday Thoughts... retweeted
Farm transition I'm helping with:
Husband has the hard & fast mentality that:
Son helps on the farm so he should get everything.
Wife takes the approach of "let's be equal/fair" regarding $$ value.
→ 2 kids; one Son and one Daughter
We're talking $15 million in land, equipment, & livestock going to the on-farm Son.
And $500,000 in retirement & $500,000 in life insurance going to the off-farm Daughter.
That $14 million imbalance is what the wife is concerned about.
There's a solution that may make both H & W satisfied:
1) Property into a trust
2) Machinery & livestock left to on-farm Son
3) Retirement & life insurance left to off-farm Daughter
4) Trust grants right of first refusal (ROFR) to rent & ROFR + option to buy land at a discount to on-farm Son.
Until both H & W pass away, all income goes to them.
When either H or W passes away, the other spouse gets all income.
When the last spouse passes away...
-Son gets the machinery & livestock
-Daughter gets the IRA & life insurance
-Both are beneficiaries of the land income, but Son has ROFR & option protections to keep the farm going
Instead of $15 million to Son and $1 million to Daughter, it's more evenly distributed with safeguards in place to keep the farm operation in the family & financially viable.
Without prior planning, exactly zero of this would happen.
In fact, the farm may be sold at auction to the highest bidder.
So, it begs the question...
Have you started tackling this succession, transition, estate issue?
Midday Thoughts... retweeted
50 years ago, Big Sugar quietly paid three scientists to point the blame for chronic disease at cholesterol and saturated fat.
Millions of Americans died as a result.
Here’s how Big Sugar has been lying to the American population since 1965:
Midday Thoughts... retweeted
Estate Planning for farms and farm families
2 appointments in person, 45 minutes each. Less than 1 month from initial contact to completion.
✅ Wills
✅ POA
✅ Trust
✅ Plan for kids
This doesn’t need to be hard! Our attorney did a great job and now we have a plan in place in the event of untimely death. Never fun to talk about, but so important. If you need a spur to get this in place, let this be your sign.
Midday Thoughts... retweeted
Wall Street 1: Greed is Good
Wall Street 2: Money Never Sleeps
Wall Street 3: Please complete your annual compliance modules and attestations before the Friday deadline.
Midday Thoughts... retweeted
The masonry skills of this kid
[📹 Brunno Batista]
teapaw.org/i/status/1784158290496…
Midday Thoughts... retweeted
Every Midwest household has this random bowl that is used for popcorn, trick-or-treating, or barf
Midday Thoughts... retweeted
Neal Shipley is a grad student at Ohio State and the only amateur who made the cut at the Masters. His caddie is one of his good high school buddies.
Today, they are casually playing in the final round of #TheMasters with Tiger Woods.
Midday Thoughts... retweeted
a lot of people say bad things about the younger generations but I can tell you, we have some pretty amazing farm kids coming up that are going to do big things for this industry
Midday Thoughts... retweeted
My favorite legal thing that feels illegal is using the Calendly links from salespeople who email me nonstop and booking them calls with each other
Midday Thoughts... retweeted
Here is an easy link to the tool since it gained so much traction- hope it helps, and let me know if you have any questions. #agX #agTwitter
Simple tool for weighted average price. Drop a comment or send me a message if you'd like to have it to plug your numbers in. No cost- just hope it helps with decision-making. #agX #agTwitter
Midday Thoughts... retweeted
milei’s speech should be the media event of the year. every high school class in the US should break and watch it, then spend a week understanding the historical context behind his devastating truths. if you haven’t watched, please do. and share widely.
