Start planning early for your long-term care needs NATIONWIDE NEWS
The following information is provided by Nationwide ® , the #1 farm and ranch insurer in the U.S.* It’s never too early to start plan- ning for your farm’s future. That’s es- pecially true as it relates to laying the groundwork for your successors. Long-term care planning is part of that process. Nationwide® has a range of long-term care coverage options to help give any farm- er the peace-of mind that his or her needs can be met late in life. All to help minimize any undue financial burden on your successors. The McAfees are young farm- ers who recognized early on the im- portance of planning for their long- term care needs. They hope to one day hand over the reins of their farm to their children. “Even if you don’t have active farming heirs, you still should review whether farm revenue can cover long-term care expenses,” said Nationwide Advanced Consulting Group Director Steve Hamilton. “Farming is a dangerous busi- ness with a lot of risks involved,” said Kirsten McAfee, who farms with her husband Wade near Delaware, Ohio. “I wanted to make sure that
should something happen to one of us, we would have the care we needed and still have the farm business operational.” Financial and legal professionals are critical to long-term care estate planning, given the required estate planning documents. The process often involves preparing forms like a will, Durable Power of Attorney and Medical Advanced Directive (living will). While it’s important to prepare for the worst case, often your long-term care needs may mean hir- ing a home-health aid to help you when you’re injured or ill. If you plan on a spouse or fami- ly member being there to help, care- fully consider how well your family member can juggle any increased re- sponsibilities to care for you while caring for the farm or juggling their own responsibilities. If they can’t do it all, consider that the na- tional average for a monthly home health aide is $4,385 a month (that’s potentially over $50,000 a year, de- pending on where you live). A little planning now can help ensure your farm assets are managed while your long- term care needs are being met. Planning for long-term care should include how your farm will be man-
aged and operated while you’re away. In cases like the McAfees, that plan should lay the specific ground- work for the next generation to take over the farm temporarily or permanently. Kirsten McAfee said she and Wade worked with their Nationwide Farm Certified agent to go through these options and zero in on the right strategy for their operation. “Nationwide met our needs by providing us with the products that we were looking for, like the long- term care embedded in our life in- surance policy,” she said. “We wanted to be able to provide for ourselves and our children. We don’t want to be a burden in any way to our kids.” A major part of the process is reg- ular communication between the farm family and agent, reviewing their needs every few years. That’s enabled the McAfees to account for farm growth and changes over time as they plan for how they’ll meet fu- ture potential long-term care needs. “We have a yearly ‘On Your Side’ review when our agent comes out and we discuss any changes or additions we’ve made. I had nev- er really done that before. That’s re- ally peace of mind for me,” Wade
said. “Every farm is different. Our Nationwide agent has provided us the in- dividualization we need.” Visit AgInsightCenter.com for re- sources and expert tips on trending topics to help you run a successful business and maintain the safety of your operation. *A.M. Best Market Share Report 2022. Nationwide, the Nationwide N and Eagle, and Nationwide is on your side are service marks of Nationwide Mutual Insurance Company. © 2023 Nationwide Organic rice field tour to highlight growers’ insights Organic rice growers are set to discuss soil, cover crops, pests and diseases, water management and more, as part of a Sept. 12 field day at Pleasant Grove Farms in Sutter County. The event, which begins at 8:30 a.m. at 5072 Pacific Ave., Pleasant Grove, includes lunch with industry leaders. Admission is $20. To learn more, email Wynette Sills at wynettesills@gmail.com.
CIMIS REPORT | www.cimis.water.ca.gov
CALIFORNIA IRRIGATION MANAGEMENT INFORMATION SYSTEM
For the week of August 10 - August 16, 2023 ETO (INCHES/WEEK)
YEAR
3.0
THIS YEAR
2.5
LAST YEAR AVERAGE YEAR
2.0
1.5
1.0
0.5
0.0
MACDOEL II (236)
BIGGS (244)
DAVIS (06)
MANTECA (70)
FRESNO (80)
SALINAS-SOUTH (214)
FIVE POINTS (2)
SHAFTER (5)
IMPERIAL (87)
THIS YEAR LAST YEAR AVG. YEAR % FROM AVG.
1.64 1.85 1.54 6
1.48 1.65 1.54 -4
1.67 1.74 1.69 -1
1.59 1.76 1.63 -2
1.73 2.05 1.81 -4
1.39 1.51 1.27 10
1.54 2.05 1.88 -18
1.68 1.91 1.73 -2
2.06 1.85 1.96 6
W eekly reference evapotranspiration (ETo) is the rate of water use (evapotranspiration—the sum of soil evaporation and crop transpiration) for healthy pasture grass. Multiplying ETo by the appropriate “crop coefficient” gives estimates of the ET for other crops. For example, assume ETo on June 15 is 0.267 inches and the crop coefficient for corn on that day is 1.1. Multiplying ETo by the coefficient (0.26 inches x 1.1) results in a corn ET of 0.29 inches. This
information is useful in determining the amount and timing of irriga- tion water. Contact Richard Snyder, UC Davis, for information on coefficients, 530-752-4628. The 10 graphs provide weekly ETo rates for selected areas for average year, last year and this year. The ETo information is provided by the California Irrigation Management Information System (CIMIS) of the California Department of Water Resources.
For information contact the DWR district office or DWR state headquarters:
SACRAMENTO HEADQUARTERS: 916-651-9679 • 916-651-7218
NORTHERN REGION: Red Bluff 530-529-7301
NORTH CENTRAL REGION: West Sacramento 916-376-9630
SOUTH CENTRAL REGION:
SOUTHERN REGION:
Fresno 559-230-3334
Glendale 818-500-1645 x247 or x243
August 23, 2023 Ag Alert 21
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