March 30, 2023 • 15 mins
Goosmann Law Firm Sioux Falls Managing Partner and a Trust Law Counsel Leader Barry Sackett joins Host Jeana Goosmann to discuss the unique world of estate planning for farmers and they also touch on a new tax bill that could impact farmers in Iowa regarding their retirement income.
In this episode they discuss:
- What is Trust Law Counsel
- Options that farmers and ranchers have with their succession plan
- Benefits for 1031 Exchange
- Options for people who inherit land but do not wish to farm
- Recent changes to taxes in Iowa that could impact farmers and their retirement income
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Intro (00:01):
Do complex legal issues hold you back.
Let's get energized and bringclarity to your top legal
questions.
This is Law Talk with the Flockby Goosmann Law Firm.
Jeana Goosmann (00:30):
Hello, I'm your host, Jeana Goosmann, a CEO
lawyer, author and w omanbusiness owner here to help
navigate you through the law,your business and life as a
leader.
For today's episode, I have withme my partner, the managing
partner of T rust L aw C ouncil,B arry S ackett.
B arry is our Trust Law Counselleader here at Goosmann Law
(00:51):
Firm, and his main office is inSioux Falls, South Dakota.
T oday w e're going to t alk about t he i ns a nd o uts o f
succession planning for f armersi n ranchers.
Welcome B arry.
Barry Sackett (01:01):
Thanks, Jeana.
Really excited to be here.
Jeana Goosmann (01:04):
Barry, if you could just tell our listeners a
little bit about yourself.
Barry Sackett (01:09):
Yeah, as you said , I currently sit in Sioux
Falls, but grew up in northwestIowa.
I practiced with my, my fatherand my grandfather i n a firm
that started 1918.
I have a lot of farmer andrancher clients throughout the
years.
B oth in production andprocessing a nd transportation
(01:32):
and feed, and kind of the wholegamut of the agricultural space.
Our T rust Law Counsel has a loto f those clients throughout the
Midwest, i n Nebraska, SouthDakota, Iowa, Minnesota, an d we
do a lot of work in that area.
We really focus on those folksthat are looking at keeping
(01:53):
their farming operations intheir family or passing them on
and putting them into goodhands.
We understand the, the valuethat our clients place in the
land that they've spent so, somuch of their lives, an d g
enerations on.
Jeana Goosmann (02:08):
As a farmer's daughter, myself, I can tell you
that my dad put a lot of stockin ground, he just liked an
asset that you could go out andkick if you wanted to.
Barry Sackett (02:19):
That's right, my family i s going o n t o our
second and third generation of,of farm ground as well.
So, we're very, very much intouch with that feeling.
Jeana Goosmann (02:29):
So Barry, you mentioned Trust Law Counsel,
tell us about your team and whatthe team at Trust Law Counsel
looks like today.
Barry Sackett (02:37):
Well, our team is made up of estate planning
attorneys and then specialistsin certain areas.
We are fortunate that we'resitting in Sioux Falls, South
Dakota, and we, we have what wecall the South Dakota Advantage.
The trust laws and the trustindustry in South Dakota is very
well developed and really leadsthe nation and in some ways
(02:58):
leads the world and how wehandle generational wealth.
Both for protection of assetsand secrecy of certain aspects
of how things happen.
But mainly we've got verytalented professionals that know
how to keep assets together andmanage them, protect them and
(03:19):
we're able to offer thoseservices in the other states
that we work in, in bothMinnesota, Iowa, Nebraska, and
really around the country.
We've got clients from all over.
So we've also got a very strongback r oom, a s far as
administrating to t rust andworking through probate for our
clients that get in thatsituation.
(03:41):
We've got attorneys and andsupport staff in a ll four of
our offices in Spirit Lake, Sioux Falls, Sioux City, and
Omaha.
Jeana Goosmann (03:50):
Outstanding.
So let's focus in a little bitmore on farmers and ranchers and
what are some specific optionsthat they should consider in
their succession plan?
Barry Sackett (04:02):
Well, you know, those options have changed a lot
over the years as the estateplanning exemptions have changed
as some state laws have changed.
The size of, of your operationmakes a difference about what
things we might look at.
But generally creating a trustfor a family that owns ground
(04:28):
and wants to make sure that thatground stays in the family for
the next generation with enoughflexibility that if some of the
next generation want a farm andsome don't, or if some want to
own ground and some don't, thatwe've got that ability to still
hang onto the land.
Luckily a lot of farmland andranch land is without a lot of
(04:51):
debt against it.
So that gives us options.
And then, you know, also lookingat how that land is managed and
make sure that the trustee hasthe ability to hire the right
tenants for the ground and tokeep that productive for
generations to come.
Jeana Goosmann (05:09):
Great.
And I always think if you know,you're a farmer and you're
wondering why does your neighborown their ground in a trust,
that's a great opportunity togive you a call and find out
why.
Barry Sackett (05:19):
That's exactly right.
I think if you pull out yourplat book and you look around
you, most farmers will find outthat, a majority of the ground
around them is held in trust.
The reasons that I justmentioned certainly there's tax,
both income tax considerationsto make on, on how things are
(05:39):
taxed currently, but certainly,as the, the prices of farm
ground continues to rise toastronomical levels, many more
people are looking at estate tax, considerations when they're
looking at their holdings andhow do they avoid that and make
sure that the land can get intothe next generation without
having to pay a lot of tax.
Jeana Goosmann (06:00):
And at a fundamental level, if it's held
inside of a trust, you can avoidprobate when the owner passes
away and keep it out of thecourt system and tied up for a
year and a half.
Barry Sackett (06:10):
That's right.
If you can avoid probate thatgives you obviously more ability
to manage that ground as you'regoing through the family
transitions, but it also createsa large amount of privacy as far
as how things are held and youknow, if there's issues within
your family, those things don'tneed to be, aired in public and
can be handled by the trustee.
Jeana Goosmann (06:32):
You mentioned secrecy, and I think that is
attractive to a lot of farmfamilies.
I know in my personal family andmy grandparents, you know, who
owned what and what wasvaluable.
Some people really like andvalue secrecy.
Can you touch upon that a littlebit more, Barry?
Barry Sackett (06:51):
Well, it's funny you say that.
You know, I have clients thatlive a section apart and don't
know anything about the, thefarmer on the next section.
It could be very isolated, but,you know, the other thing is
that there's a lot that happenswithin a farm family in the
generations.
And part of that history isfamily lore.
It's not public lore.
And it's important to remainharmony, certainly in-laws and
(07:18):
spouses can get involved whenthings are public.
That doesn't help the situationas far as farming family
harmony.
And so we can create, ability tohave, as I I often say, cooler
heads, manage the property andnot have everybody involved in
it.
Jeana Goosmann (07:35):
Let's shift over a little bit and talk about 10
31 exchange and how might thatbe a benefit?
Barry Sackett (07:42):
Well, most farm ground that is in Iowa hasn't
changed hands.
And when I say most probably 80%of it hasn't changed hands in
the last 20 years, which meansthat the basis, the value of
that land in the, in the owner'shands is what that land was
worth 20 years ago.
So on the whole less than athousand dollars an acre, and
(08:04):
now we're seeing, you know, 25to$30,000 an acre.
So that gain is going to betaxable if it's sold during
someone's lifetime.
So we have a number of clients,for example, that have farm
ground that border Sioux Fallsor Omaha or Sioux City that
turns into development land andoften they're able to do a 10 31
(08:27):
exchange, which basically meansyou don't get the cash from the
sale, but you utilize that cashto buy more like ground.
So if it's a 80 acres ofdevelopment ground that's
adjacent to Omaha and we're ableto get$50,000 an acre for it, we
can go out and buy five times asmuch land at$10,000 an acre out
(08:49):
in Nebraska.
And so often that's a way tocertainly benefit the next
generation by having that kindof productive farm ground both
in the income that it generates,but then also the appreciation
as your family's buildingwealth.
Jeana Goosmann (09:09):
Barry, let's check on the situation that does
come up quite a bit wheresomebody inherits some farm
ground, but they don't actuallywant to work the farm and be the
farmer.
What do you recommend for thosefolks?
Barry Sackett (09:21):
Well, you know there's certainly farm managers
out there and some national farmmanagers that would take over
the ground.
Often that comes with a price.
Another way certainly to do itis to create a trust and have a
trustee.
And I've got clients that managea lot of ground for others, and
(09:43):
that can be a negotiation.
So if you've got a relationthere that makes that easier.
And then, you know, another wayto do it is to kind of do it
yourself, but have a good farmtenant.
The relationship between farmtenants and landlords is very
important.
You want somebody that caresabout your land and is certainly
maintaining it.
(10:04):
It's a partnership.
Improvements need to be made intitling and other things that
needs to be a joint effort.
But you know, we've been verysuccessful in setting up good
lease arrangements so as pricesrise both parties benefit and
those leases can be veryimportant for tax purposes and
(10:26):
other things as you're gettinginto them.
And we can talk maybe a littlebit about that as well.
Jeana Goosmann (10:32):
You bet.
So when you're looking at allthese different options, there's
a lot that goes into it, and Ithink having people that have
this knowledge about farms andhow to do succession planning it
really is a unique area ofestate planning.
Would you agree?
Barry Sackett (10:48):
I would.
You know and the other thingthat I get a lot of clients that
come in and they've had a bankertell them what to do, or they've
got a crop insurance agenttelling them what to do or
they've got a neighbor tellingthem what to do.
There's a lot of information outthere, there's a lot of things
that owning your ground andcertainly passing your ground
into the next generation touch.
(11:10):
So, we're in this business andwe see it every day.
We certainly rely on a lot ofpartners in the industry, but
guess I just want to give awarning to people that it is a
complex matter and somebody withone piece of advice might not be
(11:32):
the whole picture that you needto look at when you're seeing
how these things happen, becausethe plan that you make isn't
gonna happen right away.
It's going to happen maybe 10years down the line.
So you really need to understandwhat's gonna be different in 10
years.
Jeana Goosmann (11:48):
That's a really good point.
I know my dad would go to coffeein the mornings at the local
coffee shop and they actuallycalled it the brain center and
he would laugh, he would say,oh, you know, you can get all
your answers at the braincenter.
And he would joke about that,but I think that goes a long way
with what you're saying there,Barry.
Barry Sackett (12:05):
That's right.
Yeah, you can go to Hy-Vee orCasey's or wherever all the
farmers kind of get together andlearn a lot of stuff, but you
know, you want somebody lookingspecifically your situation
because everybody is unique.
Jeana Goosmann (12:18):
You bet.
So let's shift and talk a littlebit about Iowa in particular and
how the new tax bill mightimpact farmers and their
retirement income.
Barry Sackett (12:28):
Yeah, some significant changes that will
happen in 2023 for Iowa farmers.
Those that are retiring fromfarming but have been actively
farming for a period of 10 yearsand have owned their land for 10
years can avoid any state tax onthe income that they're earning
from those leases.
(12:48):
They need to be leases thatthey're not participating in.
So, not crop share l eases,they're kind of still active in
the farming operation.
There's another part of the Iowatax structure on farming that
has been one way and it'schanging a little bit.
(13:12):
And that's the capital gainstreatment.
There's a way to avoid thecapital gains tax on selling
farmland if you've been a farmerand that's been in place for a
long time.
But you can't do both.
You can't take the income from,or avoid the income from the
rent and avoid the capital gainsin the same year.
It's expanded a little bit toinclude machinery.
(13:33):
So, if you've got a full farmoperation and you've got a
couple million dollars worth ofmachinery and you're gonna sell
that, you can avoid some capitalgains tax on that as well.
So, all those statutes arechanging the law in 2023.
Sometimes you've got to give thelaw a couple years to play out
(13:54):
before you know how exactly theDepartment of Revenue is going
to handle it.
But, if you're at that age(retirement), I would certainly
recommend that you get some goodadvice before you make any sales
or sign a lease with somebody ifyou're going to be getting out
of farming in the next year.
Jeana Goosmann (14:11):
Great advice.
And I know farmers absolutelylove, just like most of
Americans not paying any moretax than you have to.
Barry Sackett (14:19):
Yeah.
I do tax work and farmers camein and they've had a great year,
but they don't like me this yearbecause they generally have to
pay some taxes.
Of course, the implement dealersthey're pretty excited about
this year because they can goout and buy a new tractor and
pay them instead of Uncle Sam.
So, you know it's the nature offarming, farmers feed us.
(14:44):
It's a very difficult life.
There's a lot of ups and downsand, you know, even a large
operation has such dramaticswings and we understand that
and certainly have been throughit with folks and we're here to
help you, help you pass thatdown to the next generation and
help them understand it and helpthem operate their farming and
(15:06):
ranching operations into thenext generation.
So, I'm very excited to talk toyou about this t oday, Jeana.
Jeana Goosmann (15:13):
Well, thank you Barry, so much for sharing your
insight.
Have a great day, everyone.
Go make it worth it.
Outro (15:20):
Thanks for joining us for Law Talk with the Flock by
Goosmann Law Firm.
We hope you feel energized andready to soar past your goals.
Become a Flock fan and subscribeto our podcast for weekly
episodes.
Learn more at GoosmannLaw.com
Do complex legal issues hold you back.
Let's get energized and bringclarity to your top legal
questions.
This is Law Talk with the Flockby Goosmann Law Firm.
Jeana Goosmann (00:30):
Hello, I'm your host, Jeana Goosmann, a CEO
lawyer, author and w omanbusiness owner here to help
navigate you through the law,your business and life as a
leader.
For today's episode, I have withme my partner, the managing
partner of T rust L aw C ouncil,B arry S ackett.
B arry is our Trust Law Counselleader here at Goosmann Law
(00:51):
Firm, and his main office is inSioux Falls, South Dakota.
T oday w e're going to t alk about t he i ns a nd o uts o f
succession planning for f armersi n ranchers.
Welcome B arry.
Barry Sackett (01:01):
Thanks, Jeana.
Really excited to be here.
Jeana Goosmann (01:04):
Barry, if you could just tell our listeners a
little bit about yourself.
Barry Sackett (01:09):
Yeah, as you said , I currently sit in Sioux
Falls, but grew up in northwestIowa.
I practiced with my, my fatherand my grandfather i n a firm
that started 1918.
I have a lot of farmer andrancher clients throughout the
years.
B oth in production andprocessing a nd transportation
(01:32):
and feed, and kind of the wholegamut of the agricultural space.
Our T rust Law Counsel has a loto f those clients throughout the
Midwest, i n Nebraska, SouthDakota, Iowa, Minnesota, an d we
do a lot of work in that area.
We really focus on those folksthat are looking at keeping
(01:53):
their farming operations intheir family or passing them on
and putting them into goodhands.
We understand the, the valuethat our clients place in the
land that they've spent so, somuch of their lives, an d g
enerations on.
Jeana Goosmann (02:08):
As a farmer's daughter, myself, I can tell you
that my dad put a lot of stockin ground, he just liked an
asset that you could go out andkick if you wanted to.
Barry Sackett (02:19):
That's right, my family i s going o n t o our
second and third generation of,of farm ground as well.
So, we're very, very much intouch with that feeling.
Jeana Goosmann (02:29):
So Barry, you mentioned Trust Law Counsel,
tell us about your team and whatthe team at Trust Law Counsel
looks like today.
Barry Sackett (02:37):
Well, our team is made up of estate planning
attorneys and then specialistsin certain areas.
We are fortunate that we'resitting in Sioux Falls, South
Dakota, and we, we have what wecall the South Dakota Advantage.
The trust laws and the trustindustry in South Dakota is very
well developed and really leadsthe nation and in some ways
(02:58):
leads the world and how wehandle generational wealth.
Both for protection of assetsand secrecy of certain aspects
of how things happen.
But mainly we've got verytalented professionals that know
how to keep assets together andmanage them, protect them and
(03:19):
we're able to offer thoseservices in the other states
that we work in, in bothMinnesota, Iowa, Nebraska, and
really around the country.
We've got clients from all over.
So we've also got a very strongback r oom, a s far as
administrating to t rust andworking through probate for our
clients that get in thatsituation.
(03:41):
We've got attorneys and andsupport staff in a ll four of
our offices in Spirit Lake, Sioux Falls, Sioux City, and
Omaha.
Jeana Goosmann (03:50):
Outstanding.
So let's focus in a little bitmore on farmers and ranchers and
what are some specific optionsthat they should consider in
their succession plan?
Barry Sackett (04:02):
Well, you know, those options have changed a lot
over the years as the estateplanning exemptions have changed
as some state laws have changed.
The size of, of your operationmakes a difference about what
things we might look at.
But generally creating a trustfor a family that owns ground
(04:28):
and wants to make sure that thatground stays in the family for
the next generation with enoughflexibility that if some of the
next generation want a farm andsome don't, or if some want to
own ground and some don't, thatwe've got that ability to still
hang onto the land.
Luckily a lot of farmland andranch land is without a lot of
(04:51):
debt against it.
So that gives us options.
And then, you know, also lookingat how that land is managed and
make sure that the trustee hasthe ability to hire the right
tenants for the ground and tokeep that productive for
generations to come.
Jeana Goosmann (05:09):
Great.
And I always think if you know,you're a farmer and you're
wondering why does your neighborown their ground in a trust,
that's a great opportunity togive you a call and find out
why.
Barry Sackett (05:19):
That's exactly right.
I think if you pull out yourplat book and you look around
you, most farmers will find outthat, a majority of the ground
around them is held in trust.
The reasons that I justmentioned certainly there's tax,
both income tax considerationsto make on, on how things are
(05:39):
taxed currently, but certainly,as the, the prices of farm
ground continues to rise toastronomical levels, many more
people are looking at estate tax, considerations when they're
looking at their holdings andhow do they avoid that and make
sure that the land can get intothe next generation without
having to pay a lot of tax.
Jeana Goosmann (06:00):
And at a fundamental level, if it's held
inside of a trust, you can avoidprobate when the owner passes
away and keep it out of thecourt system and tied up for a
year and a half.
Barry Sackett (06:10):
That's right.
If you can avoid probate thatgives you obviously more ability
to manage that ground as you'regoing through the family
transitions, but it also createsa large amount of privacy as far
as how things are held and youknow, if there's issues within
your family, those things don'tneed to be, aired in public and
can be handled by the trustee.
Jeana Goosmann (06:32):
You mentioned secrecy, and I think that is
attractive to a lot of farmfamilies.
I know in my personal family andmy grandparents, you know, who
owned what and what wasvaluable.
Some people really like andvalue secrecy.
Can you touch upon that a littlebit more, Barry?
Barry Sackett (06:51):
Well, it's funny you say that.
You know, I have clients thatlive a section apart and don't
know anything about the, thefarmer on the next section.
It could be very isolated, but,you know, the other thing is
that there's a lot that happenswithin a farm family in the
generations.
And part of that history isfamily lore.
It's not public lore.
And it's important to remainharmony, certainly in-laws and
(07:18):
spouses can get involved whenthings are public.
That doesn't help the situationas far as farming family
harmony.
And so we can create, ability tohave, as I I often say, cooler
heads, manage the property andnot have everybody involved in
it.
Jeana Goosmann (07:35):
Let's shift over a little bit and talk about 10
31 exchange and how might thatbe a benefit?
Barry Sackett (07:42):
Well, most farm ground that is in Iowa hasn't
changed hands.
And when I say most probably 80%of it hasn't changed hands in
the last 20 years, which meansthat the basis, the value of
that land in the, in the owner'shands is what that land was
worth 20 years ago.
So on the whole less than athousand dollars an acre, and
(08:04):
now we're seeing, you know, 25to$30,000 an acre.
So that gain is going to betaxable if it's sold during
someone's lifetime.
So we have a number of clients,for example, that have farm
ground that border Sioux Fallsor Omaha or Sioux City that
turns into development land andoften they're able to do a 10 31
(08:27):
exchange, which basically meansyou don't get the cash from the
sale, but you utilize that cashto buy more like ground.
So if it's a 80 acres ofdevelopment ground that's
adjacent to Omaha and we're ableto get$50,000 an acre for it, we
can go out and buy five times asmuch land at$10,000 an acre out
(08:49):
in Nebraska.
And so often that's a way tocertainly benefit the next
generation by having that kindof productive farm ground both
in the income that it generates,but then also the appreciation
as your family's buildingwealth.
Jeana Goosmann (09:09):
Barry, let's check on the situation that does
come up quite a bit wheresomebody inherits some farm
ground, but they don't actuallywant to work the farm and be the
farmer.
What do you recommend for thosefolks?
Barry Sackett (09:21):
Well, you know there's certainly farm managers
out there and some national farmmanagers that would take over
the ground.
Often that comes with a price.
Another way certainly to do itis to create a trust and have a
trustee.
And I've got clients that managea lot of ground for others, and
(09:43):
that can be a negotiation.
So if you've got a relationthere that makes that easier.
And then, you know, another wayto do it is to kind of do it
yourself, but have a good farmtenant.
The relationship between farmtenants and landlords is very
important.
You want somebody that caresabout your land and is certainly
maintaining it.
(10:04):
It's a partnership.
Improvements need to be made intitling and other things that
needs to be a joint effort.
But you know, we've been verysuccessful in setting up good
lease arrangements so as pricesrise both parties benefit and
those leases can be veryimportant for tax purposes and
(10:26):
other things as you're gettinginto them.
And we can talk maybe a littlebit about that as well.
Jeana Goosmann (10:32):
You bet.
So when you're looking at allthese different options, there's
a lot that goes into it, and Ithink having people that have
this knowledge about farms andhow to do succession planning it
really is a unique area ofestate planning.
Would you agree?
Barry Sackett (10:48):
I would.
You know and the other thingthat I get a lot of clients that
come in and they've had a bankertell them what to do, or they've
got a crop insurance agenttelling them what to do or
they've got a neighbor tellingthem what to do.
There's a lot of information outthere, there's a lot of things
that owning your ground andcertainly passing your ground
into the next generation touch.
(11:10):
So, we're in this business andwe see it every day.
We certainly rely on a lot ofpartners in the industry, but
guess I just want to give awarning to people that it is a
complex matter and somebody withone piece of advice might not be
(11:32):
the whole picture that you needto look at when you're seeing
how these things happen, becausethe plan that you make isn't
gonna happen right away.
It's going to happen maybe 10years down the line.
So you really need to understandwhat's gonna be different in 10
years.
Jeana Goosmann (11:48):
That's a really good point.
I know my dad would go to coffeein the mornings at the local
coffee shop and they actuallycalled it the brain center and
he would laugh, he would say,oh, you know, you can get all
your answers at the braincenter.
And he would joke about that,but I think that goes a long way
with what you're saying there,Barry.
Barry Sackett (12:05):
That's right.
Yeah, you can go to Hy-Vee orCasey's or wherever all the
farmers kind of get together andlearn a lot of stuff, but you
know, you want somebody lookingspecifically your situation
because everybody is unique.
Jeana Goosmann (12:18):
You bet.
So let's shift and talk a littlebit about Iowa in particular and
how the new tax bill mightimpact farmers and their
retirement income.
Barry Sackett (12:28):
Yeah, some significant changes that will
happen in 2023 for Iowa farmers.
Those that are retiring fromfarming but have been actively
farming for a period of 10 yearsand have owned their land for 10
years can avoid any state tax onthe income that they're earning
from those leases.
(12:48):
They need to be leases thatthey're not participating in.
So, not crop share l eases,they're kind of still active in
the farming operation.
There's another part of the Iowatax structure on farming that
has been one way and it'schanging a little bit.
(13:12):
And that's the capital gainstreatment.
There's a way to avoid thecapital gains tax on selling
farmland if you've been a farmerand that's been in place for a
long time.
But you can't do both.
You can't take the income from,or avoid the income from the
rent and avoid the capital gainsin the same year.
It's expanded a little bit toinclude machinery.
(13:33):
So, if you've got a full farmoperation and you've got a
couple million dollars worth ofmachinery and you're gonna sell
that, you can avoid some capitalgains tax on that as well.
So, all those statutes arechanging the law in 2023.
Sometimes you've got to give thelaw a couple years to play out
(13:54):
before you know how exactly theDepartment of Revenue is going
to handle it.
But, if you're at that age(retirement), I would certainly
recommend that you get some goodadvice before you make any sales
or sign a lease with somebody ifyou're going to be getting out
of farming in the next year.
Jeana Goosmann (14:11):
Great advice.
And I know farmers absolutelylove, just like most of
Americans not paying any moretax than you have to.
Barry Sackett (14:19):
Yeah.
I do tax work and farmers camein and they've had a great year,
but they don't like me this yearbecause they generally have to
pay some taxes.
Of course, the implement dealersthey're pretty excited about
this year because they can goout and buy a new tractor and
pay them instead of Uncle Sam.
So, you know it's the nature offarming, farmers feed us.
(14:44):
It's a very difficult life.
There's a lot of ups and downsand, you know, even a large
operation has such dramaticswings and we understand that
and certainly have been throughit with folks and we're here to
help you, help you pass thatdown to the next generation and
help them understand it and helpthem operate their farming and
(15:06):
ranching operations into thenext generation.
So, I'm very excited to talk toyou about this t oday, Jeana.
Jeana Goosmann (15:13):
Well, thank you Barry, so much for sharing your
insight.
Have a great day, everyone.
Go make it worth it.
Outro (15:20):
Thanks for joining us for Law Talk with the Flock by
Goosmann Law Firm.
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Become a Flock fan and subscribeto our podcast for weekly
episodes.
Learn more at GoosmannLaw.com
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