Category: Archives

Minerals and Farming Children

Q. We have been part of the fortunate few who have received mineral income. We had set things up in an Limited Liability Partnership. In the partnership, we still own fifty-one percent interest and we gave the remainder interest...

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Life Insurance ‘Rated Up’?

Q:  “We recently applied for life insurance with an insurance carrier and were told that our rating would be much higher than what we thought…   “We know the insurance is an important part of our estate...

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Health Care Mandates Occuring Now!

Q: We heard a lot about health care reform a few years back but we haven’t heard anything recently. Are we still going to go a national health care program or is this whole movement been stymied by the recent political...

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You think you have an estate plan!

Dear Just Got Finished: Currently, I am sitting at my booth in at the Big Iron Show in Fargo for my eighteenth or nineteenth year. As usual, I’m watching all the passer-byes go by – some looking at me, some avoiding...

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Minerals – to share or not to share?

09/01/2011 Dear Michael: We have been ranching in eastern Montana for going on sixty years. Our son has been working with us for the past thirty years, along with his wife and children. We have a fairly large ranch and...

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Time for a LTC Game Plan

Dear Michael: I am a person who has been retired for some time now. During my lifetime, my husband and I worked hard. He farmed and I worked at a good job where I have a pension and was able to accumulate some retirement...

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The New Estate Tax

Dear Michael: Recently, you talked about using grain, grain contracts, livestock as a part of what might be considered ‘non-farm’ assets. However, if something should happen to us, our son would need to use these so...

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Arming the Natives

Dear Michael: We have quite a bit of land, machinery, but we’ve also been able to stockpile some savings and quite a bit of grain on hand or on contracts that has grown to a good amount over the past few years. We have one...

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Solutions for ‘Transition’ Problems

Dear Michael: I have been farming with my parents for the past twelve years. However, every time dad and I need something new, he has to buy the machinery or land that we need to expand because I don’t have the credit. Now...

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Debt Load Worries Farm Wife

Dear Michael: We have seen our farm operation grow tremendously in the past few years. Along with that growth, our incomes have risen but our expenses have also risen considerably. The net incomes are still higher than...

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