We often use Defined Benefit Pension plans to help farmers pull in large amounts of money from deferred grain contracts at either elevators, ethanol plants, or co-ops. We fully understand the intention to defer taxes on that money to a later date and, hopefully, at a lower rate. We can help you get that money under your control to gain creditor protection, earn interest and protect against the potential delinquency of the institution where it’s held.
Under the right circumstances, these plans can provide all of these benefits while deferring and controlling the tax implications of the money. We are extremely fortunate to have relationships with some of the best actuarial attorneys in the country that establish and maintain these plans on an annual basis. If you would like to learn more, give us a call.