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HomeMy WebLinkAboutThe Lucknow Sentinel, 1997-03-19, Page 63voice of experience willing to lend a hand by Ralph Pearce s host/producer of This Business, of Farming,' Ross Daily has built himself .. healthy reputation as a. wise counsel;. a . trusted friend. Earlier this year, he took that pod - lion one giant step beyond. During a workshop on Financial Planning for Farm Families in Mitchell this past January,. Daily attempted to shake people's tardiness and unwillingness to .confront an aspect of life that casts a shadow on all of us; our own mortality. Following discussions on. •farm, tax planning, wills and "agree- ments and estate planning, Daily. cautioned farmers to think the • unthinkableand prepare for the future. He blended stories he's, heard in his travels and other tales he's experienced first hand over the, years - from mismanaged estates. to the death of his first wife 'he stark rea lityjie painted underscored a constant theme "Get something • (written) down, nowt" Despite the statistics that suggested some in the audiencemight not make it home that night; Daily concede& that: many of the producers in attendance were. still going to leave estate plan- ning lan ning until it was• too late; with too late being sooner than you think He illustrated this point .with two stories; one involving, the death of his first wife. Diagnosed with cancer, she took to `imaging therapy' a rela-' tively new,' but well -accepted form of treatment that ,has shown significant results in some patients. The ' problem is,' with imaging therapy, there can be no :discussion of death; that would defeat the purpose of thinking in positive terms.., For nearly five:. months, Daily and his wife couldn't discuss making out a will. They: did in fact have one made out just before shelapsed.into a coma Daily's wife died just 10 days. later And:while he has the will, Daily admitted he.. • hasn't updated it since her death in 1983 and it's. important that he do so now, that's he's .married again. The second: example came from his Uncle Alvin. A farmer of malting barley and wheat near Lloydminster, Daily's uncle was. diagnosed with' pancreatic cancer and died 10 days later. He didn't have time to leach his wife about comm dity prices, the con- tracts with breweries or how and when to sell. She was left to learn it herself, without the opportunity to grieve, a 'process which Daily claimed took two to three years, beforeit was no longer a daily distraction. 7'f4n unthin Prep for fut kl:he tkith-1e; are ure'• B.USI.NESS i V10E J ..e expeseTenice: NuLucknowtrcense Agency - PHONE: 519-52e1:-2034 • HURON CONCRETE SUPPLY L`I'B. ( . Ready Mix Concrete Precast ' -Crane &melee , "Quality Concrete 'Since 1957" Monts - .. GODlRICH ' S'hAfORTH 5244361 1'400726575199 1-$00-265-5199 As for farming issues, Daily .cau- tioned farm: parents on selling or willing the family farm to the next generation. The advice was, think twice -about it Many children who were left the farm in the late .197Qs and early 80s lost them_ as interest rates jumped and'the economy lapsed into a recession. Those times may come again with new technology and new demands for producers. If the children of today's producers aren't willing to adapt to these changes, there's no reason for. parents to feel obligated to sell or will the family' " farm. • It's important to consider future dealings and their implications related Daily. Having things detailed and,'in writing, often helps to minimize the in -fighting and bickering which Daily warned is an embarrassment to parents, even in the :here after, MetLife's Mike -Kelly, who helped.organize the event; was full of praise for Daily's sharing of.. his experiences. 110 admitted more sessions such as these were necessary; that the further north (or • away from cities) one travels, the greater the need , to show people that estate planning ,is essential..' 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