Jim Fleissner

Family man. Achiever, learner, ideator, communicator. Land Professional with National Land Realty, licensed in Iowa and Nebraska

[Jim Fleissner @Jim_Fleissner]

Make some kids really happy and eat a steak while you’re doing it!

[Jim Fleissner @Jim_Fleissner]

@AdamCarriker94 Can’t argue with this stat… TO complained a helluva lot less, though

[Jim Fleissner @Jim_Fleissner]

@Joshua_Newman Turns out, the old model of “just be grateful to be invited” might not work with the evolved landscape of player empowerment. Sponsors need to $ up for the talent, or NIL contracts need to mirror NFL with post-season incentives. Guaranteed $ for unproven talent is a big problem

[Jim Fleissner @Jim_Fleissner]

@clintwfischer Fair is in the eye of the beholder. Communication on the part of the estate planner is key: if the desired legacy also includes an intact family, all heirs need to understand why their slice of the pie is such. Earlier is better, too, so any resentment can be processed.

[Jim Fleissner @Jim_Fleissner]

@clintwfischer I could see that being an awesome add to a brokers price opinion, or an attention-getter for a listing presentation, but the folks around me who farm 1-2k acres would not pay that much for a spreadsheet of stuff they already have on file. Maybe for an absentee owner, though.

[Jim Fleissner @Jim_Fleissner]

@derrickpearson

[Jim Fleissner @Jim_Fleissner]

@AdamCarriker94 @bigten Especially now that players are professional athletes, and the games are legally able to be bet on… if it wasn’t the pattern long before wagering was made legal, I’d think the officials were fixing

[Jim Fleissner @Jim_Fleissner]

@clintwfischer Isn’t that the crux of the auction? Contrived, forced emotional decision making, based solely on FOMO in one form or another? Why not make a “best and final” offer to keep it from going to auction?

[Jim Fleissner @Jim_Fleissner]

@WLonginaker Been a heck of a few days. We’ve been called to Macedonia for a house fire, and 4 separate field fires in 3 days out of Treynor. Good help you guys had!

[Jim Fleissner @Jim_Fleissner]

@HuskerDave4 @JackMitchellLNK Reffing isn’t happening against B1G godson Michigan… wouldn’t hold my breath for that one at all! Maybe Rutgers or Maryland, but definitely not either of the weasel teams.

[@JimFleissnerLand @JimFleissnerLa1]

https://t.co/3plvIvlNO8

402-740-2558

[@JimFleissnerLand @JimFleissnerLa1]

🔥🟢New listing! This place is SO well kept! Move-in ready, with a few more weeks to enjoy the above-ground pool before fall makes the temps drop. 3 🛏️ 2.5 🛁 split entry ranch, with a total of 2200+ finished square feet. Call me to setup a showing, because this one won’t last!

[Jim Fleissner @Jim_Fleissner]

@ChetEdinger @NESaskFarmer @clintwfischer Also, to clarify, this is strictly the gold standard for cash rent ROI, not owner-operated farmland*

[Jim Fleissner @Jim_Fleissner]

@ChetEdinger @NESaskFarmer @clintwfischer Can confirm: Iowa “gold standard” cap rates have historically been in the 2.5-3.5% range. If you’re over that, you’re sitting very pretty.

[Jim Fleissner @Jim_Fleissner]

@AbbieSomething So, the Sanders family have positioned themselves to continue being the talking point, even after the game is over… and all we do is continue to talk about them. Prime was always that way in his NFL career, makes sense that he continues to dominate the headlines by any means 🤷‍♂️

[Jim Fleissner @Jim_Fleissner]

@nigeljhorton Second favorite: when you get to lock up for summer?

[Clint Fischer @clintwfischer]

Many small plans within one big plan.

If you've wondered what a comprehensive farm transition plan looks like, here's an example table of contents.

Each plan is unique, but this outline lists the majority of considerations we work through.

As you can tell, it's more thorough than just putting a will together & calling it a day...

It's never too early to start thinking about your transition plan. Use this outline to get the wheels turning.

Personal Information
-Owner generation
-Successors
-Non farm heirs
-Other involved parties
-Business description
-Balance sheet (assets & liabilities)
-Legal title to assets
-Business structure
-Current insurance
-Advisors

Vision & Goals
-Owner generation
-Successors
-Common Goals
-Family meetings & communication

Business Transfer Plan
-High level summary
-Financial viability
-Labor transfer plan
-Income transfer plan
-Management transfer plan
-Ownership transfer plan
> Crop & livestock
> Machinery & breeding stock
> Real estate
> Other
-Business structure & agreements
-Scheduled reviews

Retirement Plan
-High level summary
-Where will owners & successors live
-Health care & long term care
-Household budget
-Sources of income
-Timeline

Estate Plan Preparation
-Business asset distribution
-Non-business asset distribution
-Special considerations
-Legal documents to be completed
-Other documents needed
-Tax considerations/opinions
-Timeline

Ongoing Review & Management
-Scheduled plan reviews
-Regular updates on business transition
-Any ongoing management duties I have:
> Farmland management
> Asset sale coordination (think auctions)
> Advisory work for successor generation

Other Miscellaneous Needs

[Jim Fleissner @Jim_Fleissner]

@clintwfischer Forgot to add in: Trudy MUST have a representative elected by its trustees, for the ease of everyone they’ll work with down the road! One point of contact makes everyone’s job (realtor, attorney, tenant, etc.) SO MUCH EASIER!

[Jim Fleissner @Jim_Fleissner]

@clintwfischer Exit needs to be addressed, specifically for emergency times - the old JG Wentworth, “it’s my money and I need it now” scenarios