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  1. Basic Estate Planning: Sale of Residence

    https://ohioline.osu.edu/factsheet/EP-9

    farm—qualifies for the $250,000 ($500,000 for joint filers) exclusion of gain from income tax. Furthermore, rules ... such as like kind exchange rules to defer income taxes on the gain in the value of business/farm ... personal residence. Therefore, if the residence is part of a farm or other business property, the residence ...

  2. Basic Estate Planning: The Nursing Home Dilemma

    https://ohioline.osu.edu/factsheet/EP-10

    estate settlement costs have been paid. For example, if your estate were a family business (farm) and ... require daily skilled care that can only be provided in a skilled nursing home facility. You continue to ... home cost of $200/day, but certain facilities might exceed this coverage level. Purchase Age ...

  3. Basic Estate Planning: Introduction

    https://ohioline.osu.edu/factsheet/ep-1

    might want business assets to stay intact, especially if there is a home farm. However, others might ... farm. Billy has an off-farm job and also farms the home place. Billy has stayed with Mom and Dad all his ... life, and he took over the farming operation when Dad's health declined and eventually passed away. ...

  4. Natural Gas Drilling: Questions Residents and Local Leaders Should Be Asking

    https://ohioline.osu.edu/factsheet/CDFS-1282

    temporary housing facilities such as hotels/motels, trailer parks, campgrounds and RV parks, and rental ... current facilities at a stage where such increases could push equipment and structures past their ... capacity, requiring investment in additional facilities? How can counties and townships prepare for the ...

  5. Basic Estate Planning: Costs Involved in Transferring Property

    https://ohioline.osu.edu/factsheet/EP-2

    A provision exists for electing to value farm property according to its value for farming both for Ohio and ... farm purposes. However, it might not be to an heir's advantage for inherited property to be valued ... might be higher if the estate is able to qualify to elect to value farm property at its agricultural use ...

  6. Basic Estate Planning: Giving

    https://ohioline.osu.edu/factsheet/EP-8

    Mom, (a widow) wishes to transfer the farm to Son. The farm is worth $1,013,000 now, but because ... a four-lane highway interchange will be constructed near the farm, the farm is projected to be worth $6 ... farm to Son and use up the $1 million worth of gift tax exclusion ($1,013,000 minus her $13,000 per ...

  7. Estate Planning Challenges and Strategies for Farm Families

    https://farmoffice.osu.edu/events/estate-planning-challenges-and-strategies-farm-families

    Estate planning for farmers is a unique endeavor. The capital-intensive nature of farming and the ... family legacy associated with the land are just two of the many issues that make estate planning for farm ... National Agricultural Law Center will discuss issues in farm estate planning and practical strategies that ...

  8. Basic Estate Planning: Letter of Instruction

    https://ohioline.osu.edu/factsheet/EP-5

    for one of the children to purchase the home farm from the other children. After the mother's ... will was read but before the farm was appraised, one child indicated that it was the mother's ... intention that the farm be sold to the other child for $800 per acre. The farm was later appraised at $1,200 ...

  9. Calving Management in Dairy Herds: Timing of Intervention and Stillbirth

    https://ohioline.osu.edu/factsheet/VME-29

    practices within the farm team (i.e., when to call for help), and 7) best newborn care practices. For ... of difficult births. At the Farm Level Intervention: Being able to recognize the imminent signs of ... be able to communicate calving records with the farm team and follow the protocols established. If ...

  10. Basic Estate Planning: Why Have a Will?

    https://ohioline.osu.edu/factsheet/EP-4

    health care decisions (such as selection of physicians or selection of medical facilities). Living Wills ... Ownership Community Family and Youth Farm Management living wills basic estate planning legal aspects of ...

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