Very poor management will sink any operation. The smart way to use a gift such as an interest bearing trust is not to burn through the interest as fast as it comes available. With low interest rates the past several years it probably helped to build an inflation edge. Back then if you bought a New Holland 489 haybine for 4,500 dollars and took care of it well you could probably get 3,500 dollars on trade for the next one three years down the road and maybe boot 1,500 dollars. Beat the daylights out of the same machine and get 1,750 then you have to boot 3,250. The hedge grows when the boot drops from 3,250 down to 1,750 and will contribute down the road. Most trusts have limitations and a mismanaged trust will give out a lot sooner than one that is tapped sparingly.
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Today's Featured Article - Madison's County - by Anthony West. Philip Madison has been a good friend of mine for quite some time. He has patiently suffered my incessant chit chat on the subject of tractors for longer than I care to remember, and on many occasions he has put himself out, dropped what ever it was he was doing, to come and lend a hand cranking handles, or loading a find onto a trailer. Although he himself has never actually owned or restored a tractor, he was always enthusiastic and always around helping with other peoples projects.
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