Estate Planning for Ohio Farmers - Articles Page
Ohio Farming and Agribusiness Attorneys
Ohio Farm Estate Planning Checklist
Estate planning for farmers can be much more difficult than planning for non-farmers. A farming family generally has to include planning for distribution of more land, for handling of more debt, and for determining what is an "equitable" distribution plan for farming versus non-farming children. Read more about some of the questions that should be considered when doing Ohio Farm Estate Planning ....
OHIO CAUV - Only for Real Estate Taxes?
Many owners of farmland throughout Ohio pay real estate taxes on their land with the taxes being assessed on the agricultural value of the land instead of the fair market value. However, many of these owners do not realize that this same Current Agricultural Use Valuation (CAUV) is also beneficial for estate taxes. Read more about Ohio Current Agricultural Use Value CAUV...
Don't Wait to Plan Farm Estates
Estate planning with farm families is challenging, interesting and always different. It is so easy to say, "Let's wait until tomorrow." But you shouldn't wait to plan your estate. Here are some hints for getting started. Read more about planning an Ohio Farm Estate ...
Ohio Adopts New POA (Power of Attorney) Form (March 2006)
The State of Ohio adopted a statutory financial power of attorney form on March 29, 2006. This new form gives the named person, the attorney-in fact, authority to act as an agent for certain tasks on behalf of another person (the principal), except for health care decisions. The reason for the adoption of a new form was so financial institutions would accept the documents more quickly and easily. Read more about Ohio's Power of Attorney POA Form ...
Changes to Ohio Trust Code January 1, 2007
On Jan. 1, 2007, there was a new set of rules that took effect, called the Ohio Trust Code, for all trusts in the state. Some very important notice provisions make trust agreements less confidential than they once were. A trust agreement will also become less attainable by financial institutions or other entities since trustees can now provide a certification of trust instead of the trust agreement to show that he/she as trustee has the authority to take action for the trust. These entities can only request a copy of a trust if they have a good-faith reason for doing so. Finally, the code provides ways for quicker trust administration. Read more about Ohio Trust Code rules ...
