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MYRON FRIESEN

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Life is full of "would you rather" questions that we're answering all the time. Myron Friesen lays out some about how you'd like to plan your farm estate.
Do grain cart drivers understand why a combine driver wants them to drive just so? And do those planning farm estates understand why it's important to organize things a certain way? Myron Friesen said explaining the "why" behind how things are done on the farm can make all the difference.
Doing something well is tough and doing it well under pressure is even tougher, Myron Friesen says. And that includes farm estate planning.
"If your farm estate plan expects your farm heir to buy out siblings at fair market value or even a discount, you need to do the math with current interest rates. You may have a formula for the interest rate, but even that formula would have gone up, and that is a painful change at these land prices."
Sometimes, Myron Friesen says, there are things in a farm's story that one can't unhear and that are vital to understanding a family's decision making process.
"With farm estate planning, not understanding what the other person says can be a multimillion dollar error or years of agony that no one will be laughing about."

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Just about every appointment with estate planning, something comes up about the in-laws.
Myron Friesen discusses how "enough" money changes over time and how that might impact estate planning.
"A fiduciary is someone who has the responsibility of taking care of assets or money for another person or group of people. Any time money and other people are involved, you have a serious responsibility."

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