Joe L Easter William E Foster Margaret Belcher John M Cheatham Ronnie Simpson Under new management county hospital is thriving against all odds Historic fairground gazebo demolished One year later, still no arrests in Rhoden family murders There will be trouble in River City! Monna L Fitzgerald Jesse Carrington Janice M Sowards Rhoden family members make plea for tips in Pike Co murders of loved ones Quilting – the art that’s no longer just for Grandma Young is Adams County recipient of Franklin B. Walter All-Scholastic Award Wenstrup recognized as Community Health Advocate Ready, set, go! 25th annual Egg Hunt draws hundreds Applicants needed for Adams County Fair Queen Humane Society encourages responsible animal ownership ACCS holds annual Science Fair Peebles Elementary names March Students of the Month Pierce fires perfect game as Peebles blanks West Union Hunters preparing for 2017 Wild Turkey Season Lady Hounds fall 12-3 at Lynchburg Dragons lose early lead, drop SHAC match up with Fayetteville, 13-6 Senior Profile: Isaiah Anderson Devils roll to big SHAC win at Ripley Despite soggy night, WUHS hosts annual Invitational Meet Celebrities for a night George F Carr Jr Teresa S Hoskins Mary B McClure Richard B Collins Randall D Fetters Former Manchester officer indicted on five counts WUHS student wins state Beta Club Secretary’s seat OVCTC students part of state competition S.R. 73 closed for culvert replacement Peebles Lions Club holds first Easter Egg Hunt Weyrich graduates with honors from Pittsburgh Institute of Aeronautics North Adams Elementary releases Honor Roll for Third grading Period Scholarships available from Jefferson Alumni Olympic athlete speaks at April 6 SAAM event Venture Hawks end their basketball season with a victory at WUHS Devils baseball sweeps doubleheader from Northwest Greyhounds gain SHAC split, split twinbill with East England signs with Rio Grande golf Pierce fans 16, Lady Indians blank Eastern Brown 4-0 Maybe somebody on the river does have a plan Senior Profile: Ryan Dryden Enjoying the view Still a time for celebration Carl R Brown Lena R Staggs Adams County Crews Schedule Culvert Replacement Projects Merlan Shoemaker Dwayne E Thompson Help is on the line! West Union Elementary honors February Students of the Month WUHS hosts 2017 All-County Arts and Music Festival Ohio Brush Creek Canoe/Kayak Access Grand Opening set for April 20 Kasich cracks down on opiate-based prescriptions West Union High School students have successful trip to State Beta Convention North Adams Beta Club excels at State Convention ACRMC hosts annual Health Fair Robert H Bushman Senior Profile: Skylar Newman Nine-run inning leads Lady Hounds to run rule win over West Union WUHS foursome breaks school record First county baseball battle goes to the Greyhounds On the road, Lady Indians pick up two more SHAC victories Senior Profile: Christa Williams One more ‘shining moment’ for SHAC seniors at C103 All-Star Game Esie M Chandler Phyllis Adkins Former Manchester police deputy faces Grand Jury Indictments Cornell tosses no-hitter, Fenton goes deep, Dragons open season with 11-0 SHAC win over Whiteoak New Verizon store opening in West Union Stephen R Palmer Dual culvert replacements for SR 73 Deana P Grooms Tim Phipps Marcella Walker Alvin R Mitchum Senior Profile: Chase Darnell SHAC hoopsters shine at District 14 All-Star Game Greyhounds run rule St. Pat, 15-0 Indians drop SHAC opener West Union hosts early JH Track Meet North Adams student wins state Beta Club President’s seat Anna B Copas Charles A Nelson Nation’s #1 movie comes to stage Artectis hosts grand opening Waiting for the ax to fall, who’s to blame? WU Seniors going to State Sci. Fair Peebles Elem. releases Honor Roll Finding the strength to endure They fought for us Born and raised “free range”

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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