Farmers and cattle ranchers are hardworking folks. As a result of working the land, they have unique financial concerns and needs. They face risks such as unpredictable weather, volatile market conditions and livestock health that can result in less-than-projected production levels or profits and a higher need of raising capital.
They are also concerned with the future of their farm or ranch. Are there family members that can take the reins, should they sell or contract their property, or rent or lease their land or equipment? A related issue is then how can they have an income source to fund their retirement?
At Dupré Financial Group of Raymond James, we are well-versed in guiding farmers and ranchers through these essential financial and estate planning matters, and can collaborate with your banker, accountant and attorney to help develop a cohesive and comprehensive plan.
A latest development, of course, are farmers and ranchers who receive sizeable monthly royalties for allowing energy companies to drill on their land. It is certainly exciting to experience sudden money, but with it can come significant financial, tax and emotional issues that, if not properly dealt with, can cause this sudden wealth to disappear as quickly as it came. We help farmers and ranchers manage their assets and prioritize their spending to help ensure that their newly gained wealth can serve them well over the long term.
Changes in tax laws or regulations may occur at any time and could substantially impact your situation. You should discuss any tax or legal matters with the appropriate professional.
We are well-equipped with the knowledge and services to address the financial priorities in your successful life – from managing and preserving your wealth, to leaving a legacy for your loved ones.
"Integrity is doing the right thing, even when no one is watching."