Sarabeth Barthle-Simmons
Sarabeth Barthle-Simmons
Sarabeth Barthle-Simmons
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Need for Permanency● Uncertainty in tax code discouragesinvestment● Possibility of increase in death taxdiscourages investment● If full, permanent repeal is not possible, thenwe would support permanent extension ofcurrent estate tax as-is.
<strong>Barthle</strong> Brothers Ranch●<strong>Barthle</strong>BrothersRanch.com
Ranching Family Perspective● <strong>Sarabeth</strong> <strong>Barthle</strong>-<strong>Simmons</strong>– Grain Merchandising & Animal Feed Consultantfor Central States Enterprises, LLC.● Active in Family Ranches– <strong>Barthle</strong> Brothers Ranch– <strong>Simmons</strong> Grove & Cattle Company● <strong>Sarabeth</strong> and her husband James own andoperate a commercial cow/calf ranch.– J & S Cattle Company● National CattleWomen’s Association– President- Elect of the Florida CattleWomen
Ranching Family Perspective● <strong>Sarabeth</strong> <strong>Barthle</strong>-<strong>Simmons</strong>– Originally purchased in the 1930s and has beenhome to 5 generations!– Grandparents, Joe and Jeanette, and familyestablished <strong>Barthle</strong> Brothers Ranch– Family owned: Randy, Larry, Mark, Jan, Kathy andtheir families together manage the ranch.– Goal to maintain ranch’s original state whileimproving ranch practices
Ranching Family Perspective● In 1971, Great Grandfather died at age 86– Owed $1 million; ranch gross income ~ $200K/year– 9 months deadline to pay death tax to IRS● Last 3 years of transfers were assessed to be“contemplation of death”– Considered “taxable” by IRS– IRS said we owed additional $170K● Mother Nature is uncertain enough –government tax code is additional uncertainty
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Securing the Future ofAmerican Agriculture● Getting Engaged Politically– Reach out to Congressional members– Sharing personal farm experiences and struggles– Assist Government Affairs Division withPolicy Education● Focusing on Estate and Business Planningwill play an important role in securing thefuture of the Dairy Industry!
Getting Started onEstate Planning●●●●Step One: Form Your Estate Planning Team– Attorney– Accountant– Trust Officer– Insurance AgentStep Two: Gather InformationStep Three: Analyze the InformationStep Four: Implement Your Plan
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