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Text Box: The East Central Alberta Forage Association is now winding down our projects for the season. Our projects that ran in the summer months are now completed for another year. We are pleased with the way our Silage Variety plots turned out this year as well as many of our other projects. We will have the results of the Silage varieties as well as the other projects in the annual report. If you would like information about our projects give one of the directors a call, they will be happy to help you. The Forage Association had their annual tour on August 13th we visited a few of our project demonstrations and shared information with the producers who were able to join us. It was an informative day with a few detours to other nearby crops on the way. We plan on having a few workshops with the value Text Box: added perspective in mind as well as farm management. We will be posting the dates for these workshops in the local paper . Keep watch for those dates. We are still planning a tour for this fall, possibly down south if we can get enough numbers, we will inform everyone of what we decide on and when it will be. For more information on our projects or if you have any project ideas that you would like to see take place, please contact any of the directors of the East Central Alberta Forage Association. Sincerely, Wyett Swanson Text Box: President’s Message-Wyett Swanson Text Box: People are often reluctant to deal with the subject of estate planning because it requires us to consider what will happen after we die. But estate planning should be thought of in a broader context as having to do with the accumulation and use of property during one’s lifetime, as well as its distribution after death. Although estate planning can be difficult, it will be less overwhelming if it’s approached in a careful, step-by-step manner. Why should I make a plan? The time and effort spent on your estate plan is usually rewarded with savings in taxes, estate management costs and property transfer procedures. Equally important is the peace of mind you and your family will enjoy in the knowledge that the plan has been well thought out and is equitable to all. When should you begin to plan? Think about estate planning as soon as you start accumulating assets. If you are single or relatively young, your planning is likely to be restricted to safeguarding valuable assets, such as storing important documents in a safety deposit box, and preparing a will setting out what should happen to your property in the event of your death. Getting married or having children will expand the scope of your planning. You will change the beneficiaries in your will and perhaps name a person who would act as a Text Box: guardian to your children if you and your spouse should die suddenly. Your business affairs will probably become more complicated and you should assess whether an alternative business structure would be beneficial. You might even want to form a partnership with you spouse. Your debts could increase significantly and you’ll want to reassess your insurance coverage. Later on in life, your estate plan will broaden even further as you decide how to bring your children into the business. Ultimately , you’ll need to consider your retirement plans and the disposition of your property. Estate plans may have to be changed periodically in response to external factors, such as new government legislation. An estate plan is not something that is made and then forgotten. It’s an ongoing, dynamic process that evolves through your life and requires a periodic checkup. More on estate planning can be found at the website: Www.agrisuccess.ca Text Box: Estate Planning

East Central Alberta Forage Association
Text Box: August 31, 2003 Text Box: Volume 2, Issue 4

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President’s Message

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Estate Planning

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Ag Fieldman’s Message

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Project Tour 2003

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Succession Plan

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Project summary’sPage 4. (Untitled Page)

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