Fish in My Will?
Marine Expo (click for larger size)
Individual Fishing Quotas were a hot topic at last month’s Pacific Marine Expo in Seattle. IFQ programs turn fish in the sea, and the right to catch them, into a tradable commodity.
Marine expo attendees included both satisfied IFQ recipients and fishers who oppose IFQs because they eliminate jobs and turn independent businesspeople into sharecroppers. Also present was at least one crab IFQ recipient who resents the concept of IFQs even though she was fortunate enough to receive one. She says that while working on her will, she felt uncomfortable determining who in the next generation will have a place in the crab fishery.
Birthright is not the only means to receive an IFQ. Having a large bank account also helps. Just ask an IFQ broker. Yes, a broker for fish in the sea. At least one such brokerage had a booth at the expo. There must be a niche because IFQ programs create a private asset from what was previously a public commodity. They can make quota recipients instantly rich.
We think wills and brokerages are for houses, stocks, and bonds, not fish in the sea.
Click here to learn more about IFQs.
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