Farm Succession Planning

Here at the Wiskus Group, every member of our team was raised on a farm, so we truly understand the unique complexities that farmers, landowners and agribusinesses face. Mark was raised on a multi-generational farm in Dedham, Iowa, and has five siblings with varying degrees of involvement in the farm operation. The success and longevity of his family's farm is important to him, and he understands that planning for the future takes special care. With our assistance and guidance, we can tailor a financial plan* to give you peace of mind, protect your assets, and ensure your family and your farm are taken care of for years to come.

Estate Planning

As a farm owner, you need to be continually thinking about not only the present, but also the future. Your farmland is not a liquid asset and because of that, settlement problems may arise. The best way to ensure a smooth transition from one farm owner to the next is by estate planning. Essentially this is a framework for the disposition of your assets at the time of death. Not only can this help protect your land, but it can also provide for the needs of your family and may help reduce high inheritance taxes. By creating an estate plan, you can go forward knowing your farm and your family will be in good hands.

Succession Planning

When passing on a farm and all that comes with it, the farm and land owners have many important decisions to make regarding their future. Farmland can be passed on to relatives, employees, outside parties, and even charities. Even after this decision is made, however, many more remain. Succession planning with our team means making these decisions together and making sure your farm will remain economically sound and continue with the legacy you desire.

Asset Protection

Protecting your assets means getting to know you, your values, and your priorities. We want to know what is important to you and protect that from any unexpected occurrences in the future. Asset protection allows us to put strategies in place to help you to plan for the future, protect your farm and personal assets such as wealth, future income, and property from liabilities and guide the process of transferring assets on to future generations.

Investment Strategies

Investing in the future requires a lot more consideration than simply what assets you can allocate to a venture. We are sure to take all factors into consideration such as your personal timetable, risks involved, taxes, and more to help you invest smarter.

Wealth Management

In order to best help you manage your wealth we follow a comprehensive process that includes creating a plan, monitoring your plan in action, and making changes as needed. This management plan draws from several different areas of finance such as accumulation and retirement income plans, investments in stocks, bonds, and/or mutual funds, insurance products, third-party management, and more. By getting to know you and your farming goals, risk tolerances, goals, expected returns, and values we are able to manage your wealth and make your money work for you.

Charitable Planning

When a charity or organization matters to you, it also matters to us. No matter what your philanthropic passions are, we are here to help support them by creating a financial plan* that includes charitable giving within its budget. Not only that, but as a result of your giving there may also be tax deductions that end up saving you money as you give. In all areas of finance, even giving, our team of advisors can help make the most of your financial plan* and wealth.

Buy-Sell Agreements

A buy-sell agreement is a legally binding contract between co-owners of a farm that sets in place a plan in the case of one owners death or leaving of the business, regardless of the circumstances. Essentially this agreement provides a protected way out of farm ownership if needed. Our team works with you to employ life insurance in such a way that the business can better cope financially in the event of a co-owners death.

Key Person Considerations

A farm is only able to run its best when all of the employees and owners work together and share common goals. But what happens when a key-member of the team passes away? That is where our company can help, by providing a form of insurance that will compensate the farm owner in the case of a loss. This key-person insurance can protect the farm from a loss of sales, credit, and work force and can be used to find another worker to take his or her place. When you think of your farm’s employees, is there one employee you cannot imagine working without? Does this member bring skills and ideas that no other employee can? If so, we can help you protect your farm even in the case of this worker switching employers, becoming disabled, or dying.

*Financial planning offered through Mark Wiskus' affiliation with Eagle Strategies, LLC, a Registered Investment Adviser.

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