October 2023 - 17

BUSINESS
Wealth and asset
management
In transferring the farm to the next
generation, mom and dad may need
to transition from familiar income
sources (farm income, land rents) to
investments which may feel foreign
to them. How should investments be
structured to weather the various
financial storms that will come?
How can investments be structured
to align with mom and dad's risk
tolerance? If farmland plays a role,
how can leases be structured to
protect the farming operation and
allow it to prosper, while at the same
time provide for mom and dad?
In some cases, part of mom
and dad's income may come from
the next generation purchasing
farmland or operating assets.
How can that sale be structured
to minimize taxes and protect the
farming operation, yet provide
adequate income for mom and dad?
Estate and wealth
transfer plan
Many farm families have children
who are active in the operation
as well as those who are not. A
common dilemma is how to provide
a fair inheritance to inactive heirs
without harming the operation or
creating family conflict.
The estate plan should address
where assets go at first death
and second death. The questions
of " fair versus equal " should be
addressed, as well as identifying
a plan to minimize and pay estate
taxes. There are many strategies
that can reduce, freeze, or in
some cases, eliminate the estate
and income taxation associated
with death. If so, would this be
appropriate in your situation?
The following questions are
examples of some topics that
should be considered when
developing an estate plan. Is the
financial independence plan so
secure that lifetime gifting may
be considered? If so, what are the
appropriate strategies to use? If
FRUITGROWERSNEWS.COM | 17
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http://www.treco.nu http://www.FRUITGROWERSNEWS.COM

October 2023

Table of Contents for the Digital Edition of October 2023

Editor's Letter
Feature: Answering the Call
Cover Story: Deterring Wildlife
Business: Effective succession planning
Great Lakes EXPO News: Advancing crop management
AgTech: Drone prep
Plant & Soil Health: Biotic vs. abiotic
Farm Market & Agritourism: Know your customers
Ag Labor Review: California court gets it right
Classifieds
Advertiser Index
October 2023 - 1
October 2023 - 2
October 2023 - 3
October 2023 - Editor's Letter
October 2023 - 5
October 2023 - Feature: Answering the Call
October 2023 - 7
October 2023 - 8
October 2023 - 9
October 2023 - Cover Story: Deterring Wildlife
October 2023 - 11
October 2023 - 12
October 2023 - 13
October 2023 - 14
October 2023 - 15
October 2023 - Business: Effective succession planning
October 2023 - 17
October 2023 - 18
October 2023 - 19
October 2023 - Great Lakes EXPO News: Advancing crop management
October 2023 - 21
October 2023 - AgTech: Drone prep
October 2023 - 23
October 2023 - 24
October 2023 - 25
October 2023 - Plant & Soil Health: Biotic vs. abiotic
October 2023 - 27
October 2023 - 28
October 2023 - 29
October 2023 - Farm Market & Agritourism: Know your customers
October 2023 - 31
October 2023 - Ag Labor Review: California court gets it right
October 2023 - 33
October 2023 - Classifieds
October 2023 - Advertiser Index
October 2023 - 36
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https://www.nxtbook.com/greatamericanmediaservices/FGN/january-2024
https://www.nxtbook.com/greatamericanmediaservices/FGN/december-fgn
https://www.nxtbook.com/greatamericanmediaservices/FGN/fgn-vgn-40-under-40-class-of-2023
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https://www.nxtbook.com/greatamericanmediaservices/FGN/september-2023
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https://www.nxtbook.com/greatamericanmediaservices/FGN/june-2023
https://www.nxtbook.com/greatamericanmediaservices/FGN/may-2023
https://www.nxtbook.com/greatamericanmediaservices/FGN/april-2023
https://www.nxtbook.com/greatamericanmediaservices/FGN/march-2023
https://www.nxtbook.com/greatamericanmediaservices/FGN/february-2023
https://www.nxtbook.com/greatamericanmediaservices/FGN/january-2023
https://www.nxtbook.com/greatamericanmediaservices/FGN/december-2022
https://www.nxtbook.com/greatamericanmediaservices/FGN/november-2022
https://www.nxtbook.com/greatamericanmediaservices/FGN/buyers-guide
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https://www.nxtbook.com/greatamericanmediaservices/FGN/september-2022
https://www.nxtbook.com/greatamericanmediaservices/FGN/august-2022
https://www.nxtbook.com/greatamericanmediaservices/FGN/july-2022
https://www.nxtbook.com/greatamericanmediaservices/FGN/june-2022
https://www.nxtbook.com/greatamericanmediaservices/FGN/may-2022
https://www.nxtbook.com/greatamericanmediaservices/FGN/april-2022
https://www.nxtbook.com/greatamericanmediaservices/FGN/march-2022
https://www.nxtbook.com/greatamericanmediaservices/FGN/february-2022
https://www.nxtbook.com/greatamericanmediaservices/FGN/buyersguide-2022
https://www.nxtbook.com/greatamericanmediaservices/FGN/january-2022
https://www.nxtbook.com/greatamericanmediaservices/FGN/december-2021
https://www.nxtbook.com/greatamericanmediaservices/FGN/november-2021
https://www.nxtbook.com/greatamericanmediaservices/FGN/october-2021
https://www.nxtbook.com/greatamericanmediaservices/FGN/september-2021
https://www.nxtbook.com/greatamericanmediaservices/FGN/august-2021
https://www.nxtbook.com/greatamericanmediaservices/FGN/july-2021
https://www.nxtbook.com/greatamericanmediaservices/FGN/june-2021
https://www.nxtbook.com/greatamericanmediaservices/FGN/may-2021
https://www.nxtbook.com/greatamericanmediaservices/FGN/april-2021
https://www.nxtbook.com/greatamericanmediaservices/FGN/march-2021
https://www.nxtbook.com/greatamericanmediaservices/FGN/february-2021
https://www.nxtbook.com/greatamericanmediaservices/FGN/buyersguide-2021
https://www.nxtbook.com/greatamericanmediaservices/FGN/january-2021
https://www.nxtbook.com/greatamericanmediaservices/FGN/december-2020
https://www.nxtbook.com/greatamericanmediaservices/FGN/november-2020
https://www.nxtbook.com/greatamericanmediaservices/FGN/october-2020
https://www.nxtbook.com/greatamericanmediaservices/FGN/september-2020
https://www.nxtbook.com/greatamericanmediaservices/FGN/august-2020
https://www.nxtbook.com/greatamericanmediaservices/FGN/july-2020
https://www.nxtbook.com/greatamericanmediaservices/FGN/june-2020
https://www.nxtbook.com/greatamericanmediaservices/FGN/may-2020
https://www.nxtbook.com/greatamericanmediaservices/FGN/april-2020
https://www.nxtbook.com/greatamericanmediaservices/FGN/march-2020
https://www.nxtbook.com/greatamericanmediaservices/FGN/february-2020
https://www.nxtbook.com/greatamericanmediaservices/FGN/buyersguide-2020
https://www.nxtbook.com/greatamericanmediaservices/FGN/january-2020
https://www.nxtbook.com/greatamericanmediaservices/FGN/december-2019
https://www.nxtbook.com/greatamericanmediaservices/FGN/november-2019
https://www.nxtbook.com/greatamericanmediaservices/FGN/october-2019
https://www.nxtbook.com/greatamericanmediaservices/FGN/september-2019
https://www.nxtbook.com/greatamericanmediaservices/FGN/august-2019
https://www.nxtbook.com/greatamericanmediaservices/FGN/july-2019
https://www.nxtbook.com/greatamericanmediaservices/FGN/june-2019
https://www.nxtbook.com/greatamericanmediaservices/FGN/may-2019
https://www.nxtbook.com/greatamericanmediaservices/FGN/april-2019
https://www.nxtbook.com/greatamericanmediaservices/FGN/march-2019
https://www.nxtbook.com/greatamericanmediaservices/FGN/february-2019
https://www.nxtbook.com/greatamericanmediaservices/FGN/january-2019
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