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Building lasting agriculture heritages by Preserving Value in Your Farm


Preserve the value of your farm by deferring taxes and receive up to 99% of your net sale as a loan, now!

Farmers First Trust's Monetized Deferred Payment Transaction  MDPT unlocks the potential of your farm assets using the monetized installment sale process.

How We Work

How We Work

MDPT a Monetized Installment Sale Approach for Farms and Ranches.

Mature Businesswoman

With Your CPA

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With Farms and Farming Purposes

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Tax Opinion Letters

Our Team

Mike Gustafson

Mr. Gustafson grew up on a corn and livestock farm in Northeast Nebraska and owns/operates the family farm with his brothers.

He attended Augustana University in Sioux Falls where he played football and earned All-Conference standing. He gained two bachelor’s degrees at Augustana in Math and Biology.

The next educational step was to attain a Systems Science and Mathematics degree fromWashington University in St Louis.

Mr. Gustafson's professional career includes 10 years of consulting and management leadership at IBM including International sales responsibilities for a Fortune 100 client.

As a Sr. Manager with Ernst&Young Consulting he initiated a substantial new Fortune 100 client and lead the involvement of the firm across the client’s national presence.

Mr. Gustafson also supported national growth of Panera Bread as Director of Technical Operations that included the design and rollout of the (then) largest free WIFI in the United States, brought Fortune 100 impact to agriculture as COO of a leading Ag consulting firm and established the strategic planning partnership of Tygus Partners, LLC.

He has been married for 40 years, with four adult children and five grandchildren.

Dick Schmitz

As co-Founder of Farmers First Trust and Westport Advisors Mr. Schmitz develops vehicles that enable individuals and institutions to make tax-efficient investments in hedge funds, private equity, real estate and other alternative assets.


He previously lead the insurance practice at Wilson, Harvey, Browndorf, LLP. As Managing Director, he assisted high net worth individuals and family offices in the design and implementation of domestic and offshore life insurance and annuity structures and oversaw the marketing and development of the firm’s insurance practice. He also consulted with firm clients about the implementation, reporting, and analysis aspects of their investment portfolios.


Mr. Schmitz is board certified in asset allocation and is an accredited asset manager. He began his professional and financial services career in 1974 with Manulife Financial Services in Orange County California.


In 1980 Mr. Schmitz associated with Hansch Brothers Family Office in Los Angeles California, where he was a financial advisor and assistant branch manager. Since 1985, Mr. Schmitz has been an independent advisor, providing structured financial product design and private placement insurance vehicles for high net worth individuals and family offices in Newport Beach California.


Mr. Schmitz received his undergraduate degree, (BS) from the University of Kansas and has graduate studies in the (MBA) program from California State University.


He is Board Certified in Asset Allocation, (BCCA), Institute of Business and Finance and has completed the course work as an Accredited Asset Management Specialist, (AAMS), from the College for Financial Planning.



California Office

14 Corporate Plaza, Suite 120

Newport Beach, CA 92660

(714) 624-0802

South Dakota Office

101 S. Reid St. Suite 307

Sioux Falls, SD 57103

(605) 679-4050

For any general inquiries, please fill in the following contact form:

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