If you are 56 today, you will likely live to age 86, according to the Social Security Administration life expectancy calculator. That is an average, so half my readers will live longer than age 86. How can you be sure that you have enough saved at retirement to last as long as you do? It’s a …
farm legacy planning
So your youngest kid just graduated from college. You just realized you have 30 years of work history. You found a notebook from your first year at work and you notice a goal you wrote down: “Retire by age 50.” This year you will celebrate your 55th birthday. You’ve been saving into the 401(k) at …
Estate planning is one part of a farm families finances that often gets overlooked. In fact, research has shown that approximately 60% of American farmers do not have an estate plan in place. Not taking the proper steps in planning for your farm could become financially devastating for your surviving family down the road. At Dunncreek Advisors, we’re here to help you with your estate plan documents to ensure that you at least have the basics in place should something unforeseen happen to you down the road.Read Full Article
If you are a farm owner who would love to see your farm passed down for generations to come, it is important that you pay attention! Simply coasting through your last decades of life, not updating your farm transition legacy plan may cause you to miss some key items. Has the game plan that you would like to implement with your family farm been truly fulfilled? If you would like to leave the family farm to your children, a regular review of your farm transition legacy plan is a necessity. Our team at Dunncreek Advisors is here to help ensure that everything is in place!
Once a business owner, specifically an owner of a farming business, decides to team up with Dunncreek Advisors and create a legacy transition plan, it’s important that they determine if added legal protections, like an operating agreement, is appropriate for them. At Dunncreek Advisors, we want to help you make the best decisions for your legacy, and so, we provide you with all of the knowledge and useful tools so that you can determine what works best.Read Full Article
Recently my dad and I were discussing the amazing advances in crop production he’s seen over his lifetime. It’s something many of us take for granted. People outside agriculture don’t even see it. But it’s truly miraculous when you consider how technology has advanced our production of food and fiber.Read Full Article