Letter to the Editor:

Food for thought

As the co-beneficiary of 80 acres in Tama County, I thought it would be important to discuss what the going rate per acre actually is for trust properties in the area.

You would think that trustees actually have a fiduciary responsibility to obtain the highest dollar per acre when looking out for the best interests of beneficiaries.

However, I was surprised to find out that this is contrary to my experience.

I find it difficult to understand how the same farmer/tenant can pay $400 per acre for a neighboring farm owned by an individual and yet only commit to pay $320 for a trust property.

Contracts have already been secured for $400 or more per acre for 2015 and yet a trustee tells a beneficiary that due to the low grain prices; the new 2015 crop year- “we are probably looking at more like $370 per acre.”

There is a term I used in elementary school, “hogwash.” I think that in this particular example we are also talking about hogwash. Meaning rubbish or a bunch of bull as some would say.

Shame on those farmers / tenants and trustees who are taking advantage of out of town beneficiaries.

I am sure you can name a few trusts that are being taken advantage of by trustees who would swear they are doing their fiduciary duty.

Fiduciary duty to who? Maybe to themselves and the favoritism they continuously bestow on their farmer/tenant.

How about all of the trusts out there where the farmer/tenant just does not feel the need to be honest and pay the fair market rate per acre?

Unfortunately, this happens year after year.

When are you going to step up to the plate and be fair in your business dealings?

As the new crop year approaches, it might be wise for all farmers / tenants, individuals, trustees and trust beneficiaries to start rethinking how the fair market rate and price per acre is obtained.

How is it fair to continually pay below market rent for years?

For all you beneficiaries out there; it is time to quit accepting below market rent per acre and obtain a fair market rent like everyone else.

As the new 2015 crop year leases get committed; I would hope that farmers, beneficiaries and trustees understand that this is more than food for thought.

It is the missing bread and butter for many on the table.

Kimberly Mahfouz

Knoxville, Tenn.