We have had a great time introducing Farmers First Trust to farmers, farmland owners, CPAs, attorneys, farmland brokers and banks. It has been an educational process, as most have not heard of nor have been involved in Section 453 transactions. There was one conversation that has stuck out like a sore thumb among all of the conversations and it has to do with a box.
Yes, that’s correct…a box.
A professional organization (I won’t disclose which of the list in the first sentence it is affiliated) after reviewing the MDPT process told me, “We don’t have a box for you.”
I asked what was meant by, “We don’t have a box for you.”
The explanation involved informing me that Farmers First Trust was a ‘unicorn’ of sorts and that there wasn’t anything on their ‘forms’ that would classify Farmers First Trust and how we accomplished our services. Farmers First Trust didn’t fit into any explanation that they had worked with prior to our phone conversation.
While momentarily frustrating (for me that is), this organization actually was on target with categorizing Farmers First Trust accurately - as we don’t fit into a box. Our approach, our way of thinking, our idea of planning provides a new way of envisioning the future for farmers and farmland owners. The flexibility and options that can be used once utilizing MDPT are almost endless. In a time when farming and agriculture are under pressure, Farmers First Trust can provide some relief.
Maybe next time you are told that you just don’t ‘fit in’ or that there isn’t a ‘box’ for you, you are probably on the right track.