Farmer Wants To Accomplish So Much In His Estate Plan

By: Myron Friesen

At 63, I have started planning in my head, but I don’t have the legal documents done. Sometimes when I’m in the tractor doing fieldwork, I try to dream up the perfect plan for my retirement and farm distribution. My wife laughs at me when I list everything off. Here are the things I can think of that would make it perfect:

Get rid of debt.
Have a good income when I decide to slow down.
Pay no state or federal estate taxes.
Pay very little income taxes.