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Farm Legacy needs to be planned

By Staff | Dec 6, 2012

Myron Friesen, of Farm Financial Services Inc., spoke to 45 people Thursday afternoon on how to smoothly transfer farms to their heirs without creating money nightmares for the descendants.

Farmers look at all sorts of statistics when they make their plans for the next growing season.

“But statistically speaking,” said Myron Friesen, a representative of Farm Financial Services Inc., “death is a 100 percent chance.”

Friesen said keeping a farm legacy in place following the owners’ deaths, needs to be planned and looked over closely to assure a smooth continuation of the farm to the next generation.

Friesen, who farms in Osage, provided a several scenarios of how farms can passed along to descendants, without creating a financial nightmare for those who receive the land and operation.

Friesen was the seventh of eight speakers to present programs at the 2012 Farm News Ag Show.

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