Ryan, Sowards lead Lady Indians to easy win in season opener, 57-36 over Felicity Senior Profile: Wes Hayslip Justice off to hot start at VSU County boys’ squads on display in annual SHAC Preview Night ‘Operation Christmas Child’ collects 1,707 shoe boxes for needy children Two animal cruelty cases investigated in Adams County DP&L considers closing power-generating plants in county Holiday spirit makes an early appearance in Adams County Chester A Mann Jeffrey A Daley Sr Michael G Tincher DAR sponsors Good Citizen Award Ohio’s young hunters harvest nearly 6,000 deer during Youth Gun Season Senior Profile: Kayle Thomas Helen N Hiestand Rev Walter R Egnor Sr Betty Beam Jamie L Corrill Jeffrey L Heppard Edsel L Massey Jr It is time to stop and take time to give thanks on a special day Another year to be very thankful for Senior Profile: Savannah McCoy McCoy signs to continue golf career at SSU North Adams hosts SHAC Girls Preview DAR commemorates 50th anniversary of Vietnam War Historical Society honors veterans Star Wars routine leads Fancy Free Cloggers to ‘America’s Got Talent’ A Day at the Opera Eagle Creek draws community to Thanksgiving celebration Ward ekes out victory over Worley in county commissioner race Mary A Garman Ronald L Palmer Joseph S McClanahan II Emma O Hayslip Devils slip by Georgetown in Foundation Game Hupp, Hunter, Wolke named OSSCA Second Team All-State Senior Profile: Kain Turner Lady Devils romp in Foundation Game Oh, those aromas coming from Mom’s kitchen What Became My Biggest Project Deer gun season set to begin ‘Trees to Textbooks’ shares revenues with local schools and communities BREAKING NEWS Winchester’s Baxter wins Miss Ohio USA 2017 pageant Genny Elkins Pauline S Stevenson Donald E Lewis Sr Charlotte R Seaman Ruth Prater Bennie Skaggs Gertrude Swayne West Union High School hosts impressive Veterans Day ceremonies Peebles Elementary hosts ceremony to honor local veterans Duke Energy exits Killen and Stuart Plants GE Aviation hosts annual Veterans Day celebration Senior Profile: Logan Gordley Jeffrey A Brown Sr Peebles Library welcomes local author and survivor on Nov. 19 Homer C Eldridge Robert W Schomberg One Commissioner race too close to call in unofficial count Voters approve majority of county levies on Tuesday’s election ballot NAES Sixth Graders practice the democratic process Honoring one who gave the ‘last full measure of devotion’ Overcoming adversity, veteran of Iraq War opens local business Senior Profile: Ben Figgins Senior Profile: Macy Mullenix SHAC Basketball Previews are set for Nov. 18 and 25 Trio of local golfers finish careers with trip to the highest level of high school competition Peebles sophomore Jenny Seas finishes sixth in OHSAA state cross-country meet Upset win sends Trump to the White House ACRMC awarded plaque for 50 years of service Peebles Elementary releases Honor Roll for First Nine Week Grading Period BREAKING ELECTION NEWS! Senior Profile: Jordyn Kell Orlie H Kirker Military homecoming at NAES Second half spells doom as Greyhounds fall to Hillcrest 42-12 in finale Senior Profile: Sarah McFarland WU’s Horton will continue golf career at SSU Lady Devils’ season ends in heartbreak with 3-2 loss in District championship battle Christine R. Ritchey Operation Christmas Child begins Nov. 14 Mental Health levy on tomorrow’s ballot Wanda L. Nixon David Rogers Robert “Bobby” Leonard Keneth Waters Commissioner Worley seeks re-election Republican challenger vies for Commissioner’s seat Charles Cooper Thelma J White Kayleigh L Crothers AEP Ohio employees support Breast Cancer Awareness Month WUHS holds annual Beta Club and Honor Society inductions When Saturday mornings belonged to the kids of the house Senior Profile: Gloria Purdin Green-White Night, OHSAA Meeting at WUHS on Nov. 9

Estate planning workshop coming up

Do you have an Estate Plan? Is it a plan or just a Will? How current is it? What has changed in your life or business since you last updated the plan? The next few weeks I will run some stories about Estate Plans that I used a few years ago, written by an attorney. These are older articles, and some things have changed, but these are for educational purposes.

Mom died unexpectedly in car wreck at 70 years old. Lung cancer had taken Dad 2 years earlier. At Dad’s death, Mom inherited all of his estate through joint survivorship and Dad’s simple Will. They had farmed and operated a few farm-related businesses enabling them to build a successful farm operation. They had bought and inherited land totaling 500 acres ($1,000,000 Fair Market Value). The farm operation ran a 150 head beef cow herd, 25 acres of tobacco, hay, and corn. She had $150,000 worth of cattle and equipment; $20,000 in her checking account; $20,000 in her savings and CDs; $30,000 in an IRA; $70,000 in a mutual fund; $50,000 worth of other personal property; and $10,000 of life insurance. Her total estate is worth $1,350,000. Mom also had a simple Will. Her Will left everything to Dad and if he did not survive her, then everything to Son.

Son, 50 years old, had been in an unwritten partnership on the farm operation with his mother since his father’s death. Mom had been an active partner, having been a very successful business partner with her husband for many years. Mom and Son had discussed doing some estate planning to save on the potentially large tax bill. Mom had even read several articles and attended several farm estate planning seminars and meetings. She just had not found the time to see a farm estate planning attorney.

The federal estate taxes and Kentucky inheritance taxes will total over $300,000. Son will have to cash in assets or mortgage the farm to pay these bills.

Savings WITHOUT Proper Planning

GREAT NEWS! Even WITHOUT proper estate tax planning, possibly all taxes could be avoided. If Son goes to an attorney who understands the newest estate tax regulations relating to farms, he could eliminate the need to mortgage the farm.

Special Use Valuation (I.R.S. Section 2032A) and the Qualified Family-Owned Business Interest (I.R.S. Section 2057) are tremendous tax savings tools available to the farm estate attorney when little or no tax planning had been done by the deceased person. These tools have very specific requirements for the estate to qualify for their huge benefits, but many farm estates will qualify due to changes in the tax laws and court decisions. Do not give up just because mom or dad did not get around to seeing a farm estate tax lawyer.

Estate and business planning can be your best investment and greatest gift to your family, heirs, and beneficiaries.

Attorney Keith Jeffries practices Agricultural Law in the areas of Estate Planning & Administration and Business Planning & Administration. His firm, Keith Jeffries Law Office, PLLC, is located in New Castle, KY.

The information contained in this article is meant for educational purposes only and is not meant to be used by readers to solve individual problems. Neither this publication nor the author intend to provide any specific legal advice. Please consult with a licensed attorney or other professional advisor as to how these issues relate to your own specific situation.

I plan to offer an Estate Planning Workshop in the coming months. The program details will be in this article in the coming weeks. The program will cover issues like Wills, Trusts, and the basics to an Estate Plan, followed by information concerning business planning and transitioning the business to the next generation. We will then discuss how life insurance and other insurance may be a part of your plan. Both retirement and Financial Planning be covered later in the program.

The program is limited to 50 families. The cost for the program is $90 per family up to 2 people if you register early. I will have the dates, times and other information in the coming weeks.

Dates to remember:

July 7 Southern Ohio Ag and Community Development Foundation (SOACDF) informational meeting, Cherry Fork Community Center (Gym) 10:00 a.m.

July 9 SOACDF informational meeting, Southern Hills Career Center in Georgetown (Hamer Rd and US 68) at 6:30 p.m.

July 12-18 Adams Co. Fair

July 13 Pesticide Testing at the Old Y Restaurant at noon. Pre-register at http://pested.osu.edu or call 800 282-1955 and go to Pesticide Regulations.

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