022—Lancaster Farming, Saturday, July 14,1984
Brockett’s Ag Advice
By John E. Brockett
Farm Management Agent
JSB Lewistown Extension Office
Farm Estate Planning
Every farm family should have
an estate plan. Estate planning is
not something to be done just
because we all will die someday.
Farm estate planning is different
than other types of estate planning.
The “farm” is a combination of
business asset, a sentimental piece
of family property, a non
renewable resource, a source of
family livelihood, a retirement
plan and a low return investment.
Most farms have a market value
well in excess of earning capacity.
It often represents over half of a
farmer’s assets. These factors
both make farm estate planning a
difficult chore and a real
challenge. They also make some of
the useful estate planning ideas
and tools only partially successful
when dealing with farm business.
SPECIAL - SPECIAL - SPECIAL jj
PERMA BUILDINGS |
YOUR CHOICE
LIMITED TIME ONLY 40x80
F. 0.8.
Ilui
40x80
Perma Dome
Includes
1 14x20' Sliding Doors
1 service door
10 yr guarantee Available engineered
stamp
we’ve got: it
steel buildings
V
All-Plant
LIQUID PLANT FOOD
9-18-9 PLUS OTHERS'
• Contains 100% white ortho phosphoric
acid Made in USA
• Non-corrosive. Won't settle
•Top quality Excellent service.
• Newest equipment.
• Financially sound, .and growing l
Big Demand Requires
More Distributors!
□ I sell to farmers.
How do I become your distributor 7
□ I'm a farmer.
What’s the price?
Where do I get it?
CALL or SEND FOR FACTS:
Phone: 419-962-4707
ALL-PLANT LIQUID PLANT FOOD, INC.
821 State Rd. 511 N., RFD 3,
Ashland, Ohio 44805
Before a farm family can
develop a reasonable plan, the
members of the family must decide
on acceptable goals. These goals
must take into account all of the
above factors plus the needs of
family members. Sometimes,
equal division may not be
equitable. Sometimes, equal
division may destroy the farm
business. No plan at all will
probably mean a reduced ef
ficiency on the farm and may also
cause the farm as a business to
fail. Some people don’t care if this
happens. In that case they should
be honest with their children.
What are your goals in relation
to the farm? Some may be to
become solvent, use the income
from the sale of the farm as
retirement income, have the farm
OR
Perma Web Straight Wall
Call For Special Prices
Don't Wait - Call Today
(215) 593-2511
Perma Building Systems
Box 35, Christiana. Pa 17509
I Name
Address
I City
I Phone
Dealer Inquiries
Welcome
continue as a business after
retirement. You may have others.
Planning Ideas
Over the next few weeks I would
like to review a few of the planning
ideas you might consider. Some of
them have unpleasant traps
wrapped in sugar for some people.
All of them have advantages and
disadvantages. Remember that
farm estate planning is a relatively
new field; law changes have taken
place four times in the past eight
years; most estate planners are
selling a product insurance, trusts,
investments, future business;
many estate planners are
knowledgable about estate plan
ning tools but know nothing about
the farm as a business; each farm
family has different problems,
goals, and means.
Some of the planning ideas we
State
LOOK MR. We're The “Concrete Specialists”
Featuring
PRE-CAST GUNITE
LINED LIQUID MANURE
OR WATER STORAGE
TANKS
• Underground or Above Ground Tanks
• With or Without Tops
ASCS Approved Under The
Cost Snaring Program
• Installation & Maintenance
of Concrete Bunker Silos
• Stone Wall Repairs
• Silo Repairs
MAR-ALLEN CONCRETE PRODUCTS, INC.
INSULATION
R. MAX URETHANE
(4xB or to your spec)
★ FIBERGLASS ROLLS
★ BLOWN IN
- -v,
SALES
RD2, Box 267. East Earl, PA 17519
Call us for low prices -
(717)354-7561
Gunite Construction • Precast Concrete Products
Bridge Repair* Tank Repair* Holding Tanks • Installation* Pre-Qualified by Penn Dot
R.D. 2, Ephrata, PA 17522 (717) 859-3354
Subsidiary of Seal-Crete Corp.
NEWARK, Del. The Delaware
Soybean Board has 3 new mem
bers following elections recently.
Soybean growers in New Castle
and Sussex Counties returned
ballots selecting fellow producers
to serve on the Board, which
oversees marketing and
production research activities for
will discuss are insurance,
property ownership, trusts, wills,
property transfer, and business
agreements. I would also like to
explore ideas for the surviving
spouse.
Distributor For
WHEELING
CHANELDRAIN
ROOFING & SIDING
• White • Gold
• Brown • Tan
• Silo Blue • Red
• Avocado Green
• Plain Galvanized
• Light Green
Del. Soybean Board
names new members
soybeans, Delaware’s leading
grain crop.
Sussex County producers
selected E. Brent Workman of
Bridgeville and Richard M.
Clendaniel of Lincoln to replace
Richard West and Clifton Murray.
In New Castle County, Mid
dletown grower Lawrence Jester
was chosen to fill the seat held by
Warren Baker.
The Board is made up of 10
members, nine of them soybean
producers and the Secretary of
Agriculture. A third of the board is
elected each year, and members
serve 3 year terms.
Colors In Stock ■
Distributor For
ALUMAX ALUMINUM
ROOFING & SIDING
COMPLETE POLE &
OTHER BUILDINGS
TRUSSES
• Dam, Reservoir & Spillway
Repair
• Manure Storage
• Slatted Floor Systems