Page 26 - CFAN_Mar2014

LIFE AND LEGACY: | a g r i g o v
FEATURE
CHARTING A START

YOU’VE WORKED HARD to build your wealth AN ACTION PLAN

and provide for your family. To be confident that the

legacy you envision will become a reality, it’s critical to for Environmental Stewardship
establish and maintain an estate plan. And in turn, it is

highly important to look at your whole financial picture
and your personal situation to help develop an estate The What, How, and Why of BMAPs

plan that will help ensure your family’s future will be
protected.

The financial security of your family depends not
BY MATTHEW WARREN, Florida Department of Agriculture,
only on how you manage your wealth today, but also Office of Agriculture Water Policy.

on how it will be managed and maximized in the

future. It involves preserving your estate to the greatest ACRONYMS, ACRONYMS! We are always hearing acronyms from the different government entities.
extent possible for your loved ones and for wealth to
Well, here’s one that we’ll be hearing more and more: BMAP (basin management action plan). A BMAP,
be transferred according to your wishes when the time as described by the Florida Department of Environmental Protection (FDEP), is a “blueprint” for restoring
comes.
impaired waters by reducing pollutant loadings to meet the allowable loadings established in a Total Maximum
For high net worth families, a common objective Daily Load (TMDL). It is a comprehensive set of strategies, including permit limits on wastewater facilities,
of an estate plan is to minimize taxes and preserve as
urban and agricultural best management practices, and others.
much of their estates as possible. By working closely
with your financial advisor, as well as your tax and legal To put it in everyday language, a BMAP is a set of option, and it’s very simple to enroll. In fact, I would

professionals, you will be able to chart a "roadmap" that actions designed to reduce the amount of pollutants say 85 percent of commercial ranchers have been
makes sense for you.
going into the creeks, rivers, lakes, and even ground
doing most or all of the applicable BMPs for many
This column is sponsored by The Thornhill Wealth water, in a particular watershed. Wherever FDEP has years, so recording those and selecting any additional

Management Group. Contact us today to learn more adopted a BMAP, commercial agricultural operations needed practices should not take too much of your
about our team and how we can partner with you. in the basin have the choice of implementing best time.

G. Conley Thornhill, CFP®, CIMA®, the Senior Vice management practices to help protect water quality or We used to be able to hang our hats on the slogan
President-Wealth Management, or Eric E. Johnson, monitoring their water quality at their own expense. “agriculturalists are the true stewards of the land.” It

CFP®, CIMA®, Account Vice President, can be reached If a producer does not either implement FDACS is now about taking that extra step and showing the
at (863) 298-3600 or toll free at (888) 411-5049. BMPs or conduct water quality monitoring under public by enrolling that, yes, we are doing our part

Email Conley at conley.thornhill@ubs.com or Eric at an approved monitoring plan, the FDEP or the water and participating in BMPs. ag
eric.e.johnson@ubs.com.
management district may take enforcement action.

UBS Financial Services Inc.
Implementation of FDACS-adopted BMPs

295 1st Street South, Winter Haven, FL 33880 provides a presumption of compliance with state
ubs.com/team/thornhillgroup
water quality standards for pollutants the BMPs

As a firm providing wealth management services to clients, UBS Financial address (such as nitrogen and phosphorus). On
Services, Inc. is registered with the U.S. Securities and Exchange Commission the other hand, water quality monitoring is very
(SEC) as an investment adviser and a broker-dealer, offering both investment
advisory and brokerage services. Advisory services and brokerage services are costly, and could show that an operation is not
separate and distinct, differ in material ways and are governed by different laws in compliance with standards, possibly leading
and separate contracts. It is important that you carefully read the agreements
and disclosures UBS provides to you about the products or services offered.
to fines or other regulatory consequences.
For more information, please visit our website at ubs.com/workingwithus. So far, FDEP has adopted 16 BMAPs
Certified Financial Planner Board of Standards Inc. owns the certification
marks CFP® and Certified Financial PlannerTM in the U.S. CIMA® is a
throughout the state, and more are under
registered certification mark of the Investment Management Consultants
Association, Inc. in the United States of America and worldwide. UBS
development. It’s time for ranchers
Financial Services Inc. does not provide legal or
to make a choice: BMPs, monitoring,
tax advice. Any discussion of tax matters
contained herein is not intended to be
or enforcement. It’s pretty clear that
used, and cannot be used or relied upon,
participating in FDACS BMPs is the best
by any taxpayer for the purpose of (i)
avoiding penalties under the Internal
Revenue Code, or (ii) promoting,
marketing or recommending to
another party any transaction
or tax-related matter(s). Clients
should consult with their legal and
tax advisors regarding their
personal circumstances. UBS
CONTACT MATT
Financial Services Inc. is
by CONLEY THORNHILL at (863) 773-2164
a subsidiary of UBS AG.
Member FINRA/SIPC.
or email Matthew.
warren@freshfrom-

BIO: Conley works with high net worth individuals as well as institutional clients florida.com.
by delivering highly customized wealth management solutions. In addition, in
2010 and 2011 he was selected as one of the Barron's Top 1,000 Advisor's.
Conley Thornhill is a CERTIFIED FINANCIAL PLANNERTM practitioner and
holds the Certified Investment Management Analyst® designation.

26 | CFAN
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