Estate Planning

OSU Extension offering virtual Farm Transition and Estate Planning Course in February

If you and your family are grappling with the critical issue of how to transition the farm operation and farm assets to the next generation, OSU Extension is here to help. Producers are encouraged to attend a four evening virtual “Planning for the Future of Your Farm” workshop on February 3, 10, 17, and 24, 2025 from 6:30 to 8:00 p.m. via Zoom.

Pre-registration is required so that a packet of program materials can be mailed in advance to participating families. Electronic copies of the course materials will also be available to all participants. The registration fee is $99 per farm family.  Register by January 24, 2025 in order to receive course materials in time. Click here to register or go.osu.edu/successionregistration

This workshop challenges farm families to actively plan for the future of the farm business.  Learn how to have crucial conversations about the future of your farm and gain a better understanding of the strategies and tools that can help you transfer your farm’s ownership, management, and assets to the next generation. We encourage parents, children, and grandchildren to attend together to develop a plan for the future of the family and farm.

Teaching faculty for the workshop are David Marrison, OSU Extension Farm Management Field Specialist, and Robert Moore, Attorney with the OSU Agricultural & Resource Law Program. Topics which will be covered in the workshop include:

  • Developing goals for estate and transition planning
  • Planning for the transition of control
  • Planning for the unexpected
  • Communication and conflict management during farm transfer
  • Federal estate tax challenges
  • Tools for transferring assets
  • Tools for avoiding probate
  • The role of wills and trusts
  • Using LLCs
  • Strategies for on-farm and off-farm heirs
  • Strategies for protecting the farmland
  • Developing your team
  • Getting your affairs in order
  • Selecting an attorney

Thank you! OSU Extension would like to thank Ohio Corn and Wheat for their generous sponsorship of these programs.

We hope you’ll join us to move forward on planning for the future of your farm!  For questions about the workshop, please contact David Marrison at marrison.2@osu.edu or 740-722-6073

Farm Office Live Webinar to be held on January 17 from 10:00 to 11:30 a.m.

OSU Extension will be offering a Farm Office Live webinar on Friday, January 17 from 10:00 to 11:30 a.m. Farm Office Live is a monthly webinar of updates and outlooks on legal, economic, and farm management issues that affect Ohio agriculture. Topics which will be addressed during the January webinar include:

  • Legislative Round-Up
  • Farm Bill and American Relief Act of 2025
  • Farm Business Analysis Program Update
  • Long Term Care Update
  • Quarterly Fertilizer Update
  • Crop Input Outlook
  • Livestock Outlook
  • 1099 Reminders
  • Winter Program Update

Featured speakers include Peggy Hall, David Marrison, Robert Moore, Eric Richer, Garth Ruff, Clint Schroeder and Barry Ward.

Register for this and future Farm Office Live webinars through this link on farmoffice.osu.edu.

Past recordings and additional information about the Farm Office Live Webinars can be accessed at:

https://farmoffice.osu.edu/farmofficelive

 

OSU Extension Assist Farm Families with Farm Transition and Estate Planning

If you and your family are grappling with the critical issue of how to transition the farm operation and farm assets to the next generation, OSU Extension is here to help.  Attend one of our “Planning for the Future of Your Farm” workshops this winter to learn about the communication and legal strategies that provide solutions for dealing with farm transition needs and decision making.  We’ve scheduled both a webinar version and several in-person options for the workshop.

This workshop challenges farm families to actively plan for the future of the farm business.  Learn how to have crucial conversations about the future of your farm and gain a better understanding of the strategies and tools that can help you transfer your farm’s ownership, management, and assets to the next generation. We encourage parents, children, and grandchildren to attend together to develop a plan for the future of the family and farm.

Teaching faculty for the workshop are David Marrison, OSU Extension Farm Management Field Specialist, and Robert Moore, Attorney with the OSU Agricultural & Resource Law Program. Topics which will be covered in the workshop include:

  • Developing goals for estate and transition planning
  • Planning for the transition of control
  • Planning for the unexpected
  • Communication and conflict management during farm transfer
  • Federal estate tax challenges
  • Tools for transferring assets
  • Tools for avoiding probate
  • The role of wills and trusts
  • Using LLCs
  • Strategies for on-farm and off-farm heirs
  • Strategies for protecting the farmland
  • Developing your team
  • Getting your affairs in order
  • Selecting an attorney

Webinar version.  You and your family members can attend the workshop individually from the comfort of your homes.  The four-part webinar series will be February 3, 10, 17, and 24, 2025 from 6:30 to 8:00 p.m. via Zoom. Pre-registration is required so that a packet of program materials can be mailed in advance to participating families. Electronic copies of the course materials will also be available to all participants. The registration fee is $99 per farm family.  Register by January 22, 2025 in order to receive course materials in time. Click here to register or go.osu.edu/successionregistration

In-person workshops.  Our local Extension Educators are hosting in-person workshops at five regional locations across Ohio during the upcoming winter.  Registration costs vary by. The in-person workshops will be held on

Registration is required.  Find registration information for all workshops at go.osu.edu/farmsuccession

Thank you! OSU Extension would like to thank Ohio Corn and Wheat for their generous sponsorship of these programs.

We hope you’ll join us to move forward on planning for the future of your farm!  For questions about the workshop, please contact David Marrison at marrison.2@osu.edu or 740-722-6073.

 

Farm Office Live Scheduled for October 18

OSU Extension will be offering the October Farm Office Live webinar on Friday, October 18 from 10:00 to 11:30 a.m.  Farm Office Live is a monthly webinar of updates and outlooks on legal, economic, and farm management issues that affect Ohio agriculture. Some of the topics which will be addressed during this webinar include:

  • Fall Crop Insurance Update
  • USDA Drought Assistance Programs
  • Legal Update
  • Tribute to Paul Wright
  • Is H-2A a Viable Option for Your Farm
  • 4th Quarterly Fertilizer Price Summary
  • Winter Program Update

Featured speakers include guest Farm Office members Peggy Hall, Jeff Lewis, David Marrison, Robert Moore, Eric Richer, and Clint Schroeder. Register for this and future Farm Office Live webinars through this link on farmoffice.osu.edu.

Watch “Farm Office Live” Live from Farm Science Review on September 19

The fifth season of our Farm Office Live webinar will kick off at the Farm Science Review next Thursday, September 19, 2024.  Grab a cup of coffee and join us from 10:00 a.m. to Noon for updates from the legal and farm management experts on OSU’s Farm Office team.

Here are the topics we’ll address live from the Farm Science Review:

  • Extreme Weather Management
  • USDA Drought Assistance Programs
  • Legal Update
  • Crop Inputs and Budgets Outlook for 2025
  • Ohio Farm Custom Rates
  • Quarterly Fertilizer Price Summary
  • Retirement Planning
  • 1099 Employees
  • Quicken vs QuickBooks

Featured speakers include guest Aaron Wilson, OSU’s Ag Weather and Climate Field Specialist and our entire Farm Office Team consisting of Bruce Clevenger, Peggy Hall, Jeff Lewis, David Marrison, Robert Moore, Eric Richer, Clint Schroeder and Barry Ward.

Register for our Farm Office Live webinars, which will continue through next April, through this link on farmoffice.osu.edu.

Ask The Experts: Sit Down Break & Learn at Farm Science Review

By: Wm. Bruce Clevenger, OSU Extension Field Specialist, Farm Management and Josh Winters, OSU Extension Agriculture & Natural Resources Educator, Jackson County

Successful farm managers surround themselves with the best people and information.  Expertise comes from study and experience.  Agriculture is information driven and from year to year the questions and answers change due to production and economic forces.  Who should you ask for trusted answers?  Ask The Experts at Farm Science Review!

Three days of Experts have been scheduled to take center stage again this year at the 2024 Farm Science Review.  This conversational dive explores hot/current topics between the moderator, Experts, and the audience.  The 30-minute sessions give 15-20 minutes of information from the Experts and 5-10 minutes of Q&A with the audience.  It is the best place to stop and take a sit-down break at FSR.  Grab some food and enjoy.  Experts include ag economists, weather scientists, Women in Ag leaders, veterinarians, ag attorneys, agronomists, animal scientists, and farm management specialists.

Topics include: weather, grain markets, pastures and livestock, today’s women farm mangers, corn mold and feed, carbon markets, farm financial conditions, saving taxes at retirement, hiring farm labor, farm accounting, artificial intelligence technology, outlook on crop inputs and farmland values.

New for 2024!  Student spotlight hour from 10:00 am to 11:00 am.  Youth will learn about livestock evaluation, career exploration, soil health and agronomy pest management.

Plan you day(s) at Farm Science Review at:

https://fsr.osu.edu/

2024 Ask The Expert Schedule

Date Time Speaker Topic
9/17/2024 10:00 Garth Ruff Student Spotlight: Livestock Evaluation
10:30 Lyda Garcia, PhD Student Spotlight: Carcass Evaluation
11:00 Seungki Lee, PhD & Barry Ward Farm Margins: Prospects and Coping Strategies for Lean Times Ahead
12:00 Aaron Wilson, PhD Cultivating Resilience: Are You Prepared for Extreme Weather?
12:30 Mike Estadt Carbon Markets, Sustainable Aviation Fuel, Climate Smart Ag….Oh My!  Similarities, Differences, Should I Care?
1:00 Seungki Lee, PhD Grain Market Outlook: Insights from a Cloudy Crystal Ball
1:30 Robert Moore, JD Saving Taxes at Retirement
2:00 Ani Katchova, PhD How are Ohio Farms Doing Financially?
2:30 Kane Lewis & Bruce Clevenger Quicken vs. QuickBooks for Farm Accounting
9/18/2024 10:00 Luciana da Costa, DVM Student Spotlight: Animal Care/Veterinary Careers
10:30 Tim McDermott, DVM Student Spotlight: Have You Considered a Career in Extension
11:00 Aaron Wilson, PhD Cultivating Resilience: Are You Prepared for Extreme Weather?
11:30 Jeff Lewis, JD Farm Labor: Am I Hiring an Employee or an Independent Contractor?
12:00 Chris Dean Will Artificial Intelligence mean Smarter Farming? Innovative Applications in Agriculture
12:30 Barry Ward Outlook on Inputs & Farmland: A View From The Farm Gate
1:00 Seungki Lee, PhD Grain Market Outlook: Insights from a Cloudy Crystal Ball
1:30 Amanda Bennett Fertilizer Prices in 2024: Comparisons Across Ohio
2:00 Christine Gelley Pastures for Profit
2:30 Brady Campbell, PhD I Want Sheep or Goats, Will I Be The One Fainting?
9/19/2024 10:00 Sarah Noggle & Rachel Cochran Student Spotlight: Soil Health is for the Worms!
10:30 Stephanie Karhoff, PhD & Amanda Douridas Student Spotlight: Who-dunn-it? Diagnosing Field Crop Issues
11:00 Aaron Wilson, PhD Cultivating Resilience: Are You Prepared for Extreme Weather?
11:30 Robert Moore, JD Saving Taxes at Retirement
12:00 Chris Bruynis, PhD Farming Full-Time Without Adding Acres
12:30 Barry Ward Outlook on Inputs & Farmland: A View From The Farm Gate
1:00 Gigi Neal & Sarah Noggle Today’s Women in Ag – Farm Managers & Operator/Owners
1:30 Jason Hartschuh Can I Avoid Corn Ear Mold with Hybrid Selection?

 

Ask The Experts is located at the corner of Kottman and Friday Avenues, Exhibit Area 425, across from the Firebaugh building.  Seating is available under the tent.

In addition to the Ask The Expert sessions, Review goers can explore OSU Extension Farm Management Resources in the Firebaugh building across from Ask The Expert area all-day, each day of the Review.  OSU Extension Farm Management resources can also be found online at: https://farmoffice.osu.edu/

 

 

Agricultural Land Lost to Development in Ohio

By: Mujahidul Islam (PhD student), Ani Katchova (Professor and Farm Income Enhancement Chair) and Carl Zulauf (Professor Emeritus) in the Department of Agricultural, Environmental, and Development Economics (AEDE) at the Ohio State University.

Click here to access the pdf version of the report

A topic of increasing interest in Ohio, conversion of agricultural land to developed land is examined. Highlights of this report are:

  • Between 2001 and 2021, agricultural land in Ohio has declined by 268,430 acres or 2.04%.
  • Development accounted for 48% of the decline in agricultural land.
  • Ohio’s loss of agricultural land is close to the 55% average for eight Midwest states examined by Islam, Katchova, and Zulauf (2024).
  • Conversion of agricultural to developed land is concentrated in Ohio’s 14 Metropolitan Statistical Areas (MSAs). They accounted for 78% of all Ohio’s agricultural land lost to development.
  • Franklin and Delaware Counties within the Columbus MSA lost the most agricultural land to development during the 21st Century: 13,170 and 9,547 acres, respectively.
  • Within the City of Columbus, 19,670 agricultural acres were lost to development inside a 3-mile distance from the city boundary. The cities of Toledo and Dayton had the next highest ag-to-development loss inside the 3-mile distance: 1,976 and 1,901 acres, respectively.

 

 

Planning for Future of Farm Workshop to be held in Cortland, Ohio

The OSU Extension offices in northeast Ohio invite you to participate in a Planning for the Future of Your Farm workshop on August 22, 2024 from 9:00 a.m. to 4:00 p.m. at the Trumbull County Extension office in Cortland, Ohio. This workshop is designed to help farm families learn strategies and tools to successfully create a succession and estate plan that helps you transfer your farm’s ownership, management, and assets to the next generation. Learn how to have the crucial conversations about the future of your farm.

Click here for registration flyer

Workshop topics include: Developing Goals for Estate and Succession; Planning for the Transition of Control; Planning for the Unexpected; Communication and Conflict Management; Legal Tools and Strategies; Developing Your Team; Getting Your Affairs in Order; and Selecting an Attorney.

Our teaching team will help answer the following questions and much more!

  • Who should we leave the farm to?
  • How do we prepare the next generation to manage the farm in the future?
  • How can we overcome family communication issues?
  • How do we value sweat equity?
  • What is the difference between a will and trust?
  • Will I lose my farm to estate taxes or to the nursing home?
  • What do we need to do to be better prepared to meet with an attorney and other professionals?
  • What resources does OSU Extension have to assist us as we develop our plan?

Event sponsors include OSU Extension – Ashtabula, Trumbull & Geauga Counties, Farm Financial Management & Policy Institute and the Hertzer Family Trust. The featured speakers will be David Marrison (OSU Extension Field Specialist, Farm Management), Robert Moore (Attorney, OSU Agricultural and Resource Law Program) and Lee Beers (OSU Extension Educator, Agriculture and Natural Resource)

The registration fee is $25 per person which includes lunch, refreshments, and course materials. Registration deadline is August 16, 2024. This program is made possible at a discounted rate due to the generous support from the Hertzer Family Trust.

More information can be obtained by contacting Lee Beers at the Trumbull County Extension office at 330-638-6738 or via email at beers.66@osu.edu.

OSU Extension Awarded 2024 Extension Risk Management Grant

The North Central Extension Risk Management Education Center recently announced that OSU Extension was selected as a grant recipients for the 2024 NCERME Competitive Grants Program for a project titled “Reducing Farm Transition Risk Through the Use of The Farm and Resource Management Spreadsheet (FARMS)”

The goal of this $75,058 project is to help Ohio farmer to better manage risk through the use of the newly develop farm transition and estate planning spreadsheet. The FARMS project is being led by David Marrison, Interim Director for the Farm Financial Management and Policy Institute and Robert Moore, Director of the Ohio Farm Resolution Services.

This grant is supported by USDA/NIFA under Award Number 2023-70027-40444.

 

 

Farm Office Live to be held on April 19 from 10:00 a.m. to 12:00 noon

OSU Extension and the Farm Office Team is pleased to be offering the “Farm Office Live” webinar on Friday, April 19, 2024 from 10:00 to 12:00 noon

This month’s webinar will feature the following topics:

  • CAT Tax – Closing Accounts
  • Taxation of Equipment Trade-ins
  • 2024 Crop Input Outlook
  • OSU Fertilizer Survey Q2 Release
  • Dairy Margin Coverage Program
  • Beginning Farmer Tax Credit Update
  • Transferring Operating Assets
  • Beneficial Ownership Reporting Update
  • Trends in Farm Appraisals

Featured presenters will include: Jason Hartschuh (OSU Field Specialist- Dairy Management and Precision Livestock), Clint Schroeder (Program Manager – Farm Business Analysis), Robert Moore (OSU Ag and Resource Law Program), Amanda Bennett (OSU Extension Educator), Barry Ward and Jeff Lewis (OSU Income Tax School Program), and David Marrison and Eric Richer  (OSU Field Specialists -Farm Management) and special guest Tim Harpster.

To register for this program (or to access replays of previous programs):

go.osu.edu/farmofficelive