Posted by super99 on January 11, 2015 at 12:05:18 from (74.32.241.27):
Tractors will be mentioned later on, be patient. My older brother fell and hit his head last spring, he has permanent brain damage, COPD and probably won't last out the winter. He kept his trucking and farming business to himself, his wife knows little about any of this. Shortly after he was laid up, His wife said she needed to sell his farm machinery to pay Dr bills. I used 4 days of shutdown at work to get his machinery lined up to sell, Thanks Ronnie for coming to help. He and I sell grain thru the same elevator, Elevator owner told me his wife sold all the grain to pay bills with. After everything was lined up to sell, she told me she had to wait until after the first of the year to sell the machinery because of taxes. I'm trying my darndest not to get too involved because I know without a doubt if things don't go as she thinks they should I will get the blame. His son in law called me about Christmas time asking how much I thought Jeff's Oliver 1800 ( OK, here is the tractor part) and IH blade were worth. Rita needs money and he know a guy who wants to buy the 1800 and blade. I guessed and priced them high and then asked him why they were selling the tractor and blade if they were going to have a sale? He said Rita is thinking about just turning everything over to the bank for what he owes them. I told his son in law that if Jeff owes the bank money, the odds are about 99.9 to 1 that all the machinery is collateral for the loan and it would not be wise to sell anything without talking to the bank. He said he didn't know anything about that, but Rita needed money and he had already sold off a couple of old gravity wagons. My problem with this is Jeff and I use the same bank. He and I are not connected financially in any way, shape or form, BUT I think I should tell the banker what's going on. If Rita finds out I talked to the bank, I'm a azzhole ( I'm not much higher than that in her eyes now, so not a big deal)BUT, I have to deal with the banker and don't want to go thru the questions of how much did you know and why didn't you warn us? I think( don't know for sure and would be willing to bet 1 paycheck) that the grain she sold was meant to pay off a operating loan and the machinery won't cover the loan. I see some trouble on the horizon and I would like to stay far away from it. What would you do?? If you are a person who operates like Jeff did, keeping all his business secret, you need to make someone aware of where you stand in case something bad happens to you. He didn't expect this, he had a load to haul that day right after his DR. appointment. PLEASE!!!! Do your family a BIG favor and write a list of what you owe, who owes you and what and pending business deals, etc down somewhere your wife or kids can find it and have some idea what to do if something bad happens to you. I keep a daily log book for farm purposes, at the beginning of the year, I write down grain stored, any forward sales, loans due, inputs bought but not delivered so that if something happens to me, she can look in the book and see what goes where. I cross off the items that are completed. If this only helps one person prepare for the unexpected it will be worth it. Chris
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Today's Featured Article - History of the Nuffield Tractor - by Anthony West. The Nuffield tractor story started in early 1945. The British government still reeling from the effects of the war on the economy, approached the Nuffield organization to see if they would design and build an "ALL NEW" British built wheeled tractor, suitable for both British and world farming.
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