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Home My WebLink AboutThe Huron Expositor, 1979-11-22, Page 14't4t TH.E YI URON: EXPOSITOR, NOVEMBER 2,2, 1979 4 BY JACK. HAGAITX', AREA COORDINATOR AND FARM M 'NACEMENT SI KWIST My gut feeling tells me,that.seven out Of ten. people reading this articleneed to update their wills, It also tells me that few people want to hear about wills. It means Consciously thinking about "pulling up ,. a i s life. ; w and .good. t. Ho 1 wn . this stapes.e.. . 8 depressing) Butif we don't retake contingency plans,. it could be very: depressing for those family members who remain. There's a joke told, by a :lawyer. It's about two lawyers. discussing bow .te divide up an estate. Qne lawyer says to the other "let's watch .out for ourselves or w'e're liable td fritter it away on st the beneficiaries." A farmer (testator), in drawing a will, is concerned about treating the family fairly— not usually equally. The spouse who remains and the children who farm usually receive a greater share than those who leave home immediately after school. It's a toughdecision--a dilemma tomost far- mers. The one consoling factor is, yeu're Marketing Swine Specialist. Andy Bunn. of Lemdon has at- tempted to clear up some of the misconceptions abut the high cost of food. 1 -le was, speaking recently to the London & St. Thomas chap- ter of the Appraisal Institute of Canada. "Today there, are many Segments of the food. chain - .The Farmer; Food Manu- facturer; Wholesaler; Dis- tributor; and Retailer. Each segment of the food chain performs an important Pune- tion in putting food on your table. Out of every dollar spent on food today. approx- imately 62e goes tothe food manufacturer.' wholesaler;. distributor a '.d retailer, while the far er and his employees. rec -ivc approxi- mately 38c he growing sha th consumer dollar is spent on marketing .serv-. ices rather than, on .raw: food products produced by the farmer. Today a 24 ounce loaf of bread sells for approx. matey 46e. The farmer .receives:: approximately ' 1Qc :for the amount of wheat that • °floc intn bile leaf of tread.. not going; to be ,around to hear the grumbling. Your make a decision based on. the facts and your best judgement. No : types of wilts exist in Canada The first is called the "holograph". Written entirely in the testator's handwriting And st.nedl by himself. It is accepted in Ontario- but :not; in all provinces. The Second is the "witnessed.form" Pr formal. P must of will. The testator m st s# n in the presence of ONO witnesses and they witness his signature. The witnesses cannot be a spouse or beneficiary. Most farmers, because of the size of the estate. should seek legal .advice in prep.ar- ing a will. There is* considerable freedom in the direction of one's estate. However, "The Dependent Relief Act" provides opportunity for a dependent (sponse or child under lb) disinherited by a will to petition the court for adequate provision. P q The important features of a will include; l date and identification of the testator; 2 revocation of previous wills 3.° appoint- ment of an executor --usually the main beneficiary such as a spouse. who would retain a lawyer to do.. the.. legal work; 4' adds cost In this case: the farmers share is .only 22% of the ,rust of the final product. Most segments of the food chain are attempting to oper- ate asefficiently as possible. In the :future we will see made changes n, ide to fur- ther urther improve efficiencies in all segments of the food. chain. The farmer, probably the most important ,clink in the. food chain, has led the way in efficient production. Canad- ian farmers have increased their productivity file told, over the last 35 ,rears. During; the forties, he produced enough food to feed his family and about 10 . other people- Today' he feeds his' own family and approxi- mately 55 other people. Farmers, representing only 5% of our. population. have devoted their lives to effic- ient food production so that .95% of us can live and eat better than anywhere else in the world. In Canada, the food• business is big.:busi- ness. One in. every 4 Canad- ians is now employed in food production or food related industries." The farmer can take credit for many of the improve- ments :in efficient Product- ion. F. 1vA f' payment :. debts 5/ ,e . ;.._.t- cleuso* I,ek :m y' defer distribution of estate method p ,:...Of - � Fl7O� • ;Pe,. t .of guardian* of minor children; 64' un$ the youngest child; reaches legal age; t# common ttisaster ,clause; 7/ education ;87 ,c tion topurchase--an individual ma,X� rm Isine!S. anagement Topics SUPERIOR MEMORIALS ESTABLISHER OVER 50 YEARS ,r :�...,..�. Clanton-Seaforth „Area Representative MICHAEL FALCONER 153 High Street Cinion. 482-9441 THANK YOU The Huron County Milk Committee wishes to • thank the following donors of giftsfor'• its Dairy Princess' contest: Bank of . Commerce, Blyth H & N Dairy Supplies, Walton; Stacey Bros., Mitchell; Bank of Montreal, Clinton; T.B. Allen. Ltd.,' Londesboro; Ken 'Jackson, Surge Dealer, Seaforth; Ag rico, Hensall; Royal Bank, Clinton Huron 'Holstein ' Club and Huron Milk Committee. And the donors of door prizes for the 1979 Dairy Princess 'Ball: - Tasty Nu. Bakery and Cheese House, Zurich; Ufited Breeders and Gardiner's Transport. HOURS: MON.-WED. 9 a.m. - 6 p.m. THURS.-FRI.9 a.m. - 9 p.rtn.k SAT. 9 a.m. 6 p.m. SUN. 1 p.m. - 6 p.m. :DISCOUNT' " ON BALANCE: ISE INCLUDING: A. full line of Groceries, Health and Beauty Aids,'Toys and Models, etc. EXCLUDING: Tobacco, Da►r4y Products, Pop and Bakery Goods . Drive out today and' do your Christmas Grocery Shopping at a • real savireps 1VANASTRA 4 Z-3011 444 fat N9 ‘144* 44 -4*%14.444 •.� � --efee • • • • •. • •• • • 0 •• • • • • • • • • • •• • • • • • •••••••'•.•:,!v. ••••!: 1. ,••:l:. Ifie{!'it �, ,.�•9. l ••••• ...... • . ••• • • l .•... ... ••••. r• ••••••••••./••.•i Y, Ol.••• •••••,1:s ••,••• ••••:•.• :be given' to, optionto purchase certain assets at a specified price and, rePayriat ret terms. There are no longer any Ontario succesi- sion duties or gift taxes to worry about. This makes estate planning h s imple. r: The bigtax bite �from 1,) , Rains; 2) inventory of feed, livestock; and 3), 'recapture of capital cost allowance on ' machinery and buildings. Remember, capital Aires onca I and there is a: tax deferral . , p g recapture if farm assets, pass -to children, who continue to farm. However, these, assets usually, rnust be, transferred at rate,, ,much: below talc aGt value. u; ,. In v items --feed, livestock be"twilled, 4ItectR ly to children who farm. 'In this cave the'• estate does not pay the tax., The children cannot claim an expense. They! pay the income tax if and when the assets are sold. An excellent will could he compared to an architect's blueprints. with ;photos' (inside and outside). of a building, a good. will to the architect's photos --inside and would show an outside ,outside. A out will pu poor photo. as the constrquestion. ction en ' eeer.w hi rayed; n.If ou Now e.., uestio � which type: would you prefer?' •J•..• .•• If * • • • • • • TA •••••••••I••..if* ••••..•,.•..•,•,•.•••••••••,•.•.I,•0•*Pif•••P •••-• i • • ••; . • •. I' Si ' irectory • . APPLIANCE & REFRIGERATION SERVICE Authorised factory warranty Service and repairs to GE, FRIGIDAIRE & INGLiS -APPLIANCES - Service and repairs to au makes • • • • • • • • • . • • . •; • • • • 0.,. • • HORNE'S Major Appliance -. REPAIR SERVICE 527-063,6: Seaforth CAR CARE BRUXER Repcir Service Criss A Mechanic "Repairs to all makes of cars & light trucks, Lawn Mowers & Tillers, Small Motor Repair. Ph ine 345-2891 Frank Bruxer. • •'( • • • • • • .. • • • •• ••• • •. • • .•. • ; • CAR CARE GORD'S Licensed Mechanic Service to all makes of cars HOUSE CALLS AVAILABLE 527-0333- tDECORATiN0,— , Graves; Wallpoper &; Paint Featuring MoorelM,,.,. Canadian & Imported` Wall Coverings. 527-0550 Seaforth c--ELECTRICAL---N Fred Lawrence Electrical Contractor HOME FARM &:- COMMERCIAL WIRING. Phone Auburn 526-7505 or Mitchell 348=8684' ELECTRiCAL' Geo. A. Sills & Sons HARDWARE ' `MERCHANTS PLUMBING HEATING :& ELECTRICAL EXPERTS. Phone:527-1620 Seaforth.. SEWING SEWING MACHINE SUPERMARKET Over 100 machines on display Service to all makes Sales -White, Elna, Husqvarna. lots of used machines from 539:95..: SEW AND SAVE -' CENTRE LTD. 149 Downie St . (2 doors south of 1-tunsu,a Stratford,'271-9669, J �-RESTAURANT-- -49 t CLASSIFIED •• . • • ,. . : O 0 r 0 00 •` ---FARM SUPPLIES USE EXPOSITOR WANT - ADS;, Phone 527-0240 t; F •, ••. • • • Feed Seed Fertditer Farm Supplies Petroteuin Supplies Heating Oils • Seaforth Co-op 527-0776 1► i t+ • r • . 0: e4 :.. ••••�r4i ••• i .. ..ir.••'•. •• .•,•• +.'..• •.• ••/tiit•err ••.•iYii•••tali •••••••• i ----DECORATING Expert Interior & Exterior Decorators ►Cem Paints Waltcovermgs Armstrong Carpels Window Shades HILDEBRAND PAINT AND PAPER Phone 527.1850 15 Main St , Seatorlh J APPLIANCES -1. Appliance and Refrigeration REPAIR SERVICE Jim Broadfoot 482-7032 The FORGE Restaurant L'ic. L.LB:O. For good old fashioned,home cooked Meals 527-1964 r CONSTRUCTION Excavating. & Backhoe JOHN MIDDEGAAL North Main Street Seaforth, Ontario 527-0104 • (-FUNERAL HOME --N Whitney -Ribey Y Funeral Horne ROSS W. 'R1BE1 4l RECTOR 87 Goderich St., Seaforth Phone, 527-1390 CEMETERY MONUMENTS Sincere and courteous service r,. OPTICIAN David Lon staff Ltd Optician 87 Main St;, South. Seaforth OPTOMETRIST'SAND OPHTHAMOLOGISTS Prescriptions Filled Promptly Mon -Fri. 9-5:30 p.m. Wednesday -.Closed Saturday 942;06 COMPLETE OPTICAL. SERVICE. 527-1303 ' - r----IN.SURANCE--� p CLASSIFIES AN W T SEAFORTH INSURANCE 39 Main St. S. Seaforth' .Home .Business .Farm .Auto" .life Sickness & Accident Investments, 527-1610 PIANO Piano Tuning And Repairs. Bruce Pulsifer 527-0053 or after six phone 348-9223 _ J USE rIMPROVEMENTST MacLEAN: HOME IMPROVEMENTS Phone 5(27-0032 Free Estimates. • For Siding - Aluminum' and Vinyl, Aluminum Windows, Doors, Awning's, MON T • Railings. Cemetery Monuments Inscriptions Markers Showroom Display WHITNEY-RIBEY FUNERAL HOME 87 Goderich St.. West. ' Agent for Wingham'Memorials Seaforth 527-1390 p IMPROVEMENT ARTS---KRIEGER Home Improvements Specialty aluminum and vinyl siding, windows, and doors. Additions, renovations, etc,' FREE ESIEVIAM 887-6968 BARN PAINTING McKellar Barn. Painting, now" installing galvanized or prepainted siding and roofs, • for barns:: FOR FREE `ESTIMATES CALL. 345-2871 FEED MILL FLEMING FEED MILL • Bulk Pelleted Feed, Fast unloading elevator. • 2 pits open 24 his. a day CLINTON 482-3438 I ---WELDiNG ZWAAN'S WELDING :AND EQUIPMENT . u ylVirinipeg Rd.' Vanastra 482-7931 SALES AND'sERVICO' OF Ahlminum Weiding Livestock 1?acks Edbro Hoists • Grain. Bodies Fifth -Wheel t'railer`s General Repairs •••:••• •. ..•. • . •.•:• • • ..• • • • • • • • ADVERTISING • Boost • Your :Income l BUY THIS SPACE. TO -DAY !` Il vQ. 5274240 • • • • 0 • • . • • • • • •. • • • • • , • • • •. • • •• c• • • "--ELECTRICAL:• K. MURRAY ELECTRIC 24 hour service Farm, residential, industrial and commercial. wiring 527-0984' Seaforth • .0 • • • • , • -T.V. & STEREOT •• • ' Complete Line ZENITH TELEVISION SALES AND( t3,` STEREQ SERVICE Seaforth Electronics 17 Sperling St., 527-1150 .. • • • • . • • • • • • . • • • • • • • • • •: WIRING --7Th INDUSTRIAL RESIDENTIAL and : FARM WIRING.: • ' • lc ,1•.0 e. // • CALL ! 1. • • GARY DILL Brodhagen ;. • . 345-2442 • JOHN ELLIGSEN 345-2447 -- CONCRETE• HvT? READY MIX 'LTD, 420 BAYFIELD RD., CLINTON, ONTARIO 482-3431 •: • :' • • • • • • . •. • • • • • • 11 is )1 • • • II 11 toWerql • ("---PLUMBING""`- • PLUMBING' • • Rep irs & Installations :• 1 Water Softeners i Mervin ..A.Jones : ty Plumbing & Hailing 1:: d85 .. ••.•••.•...••.•.•••S