Rita Tarvin Rocket win streak reaches five G-Men ascend to 4-0 in SBAAC National Division with win at Williamsburg Jays soar to 3-1 with win at North Adams Young Lady Jays improving as season progresses Mary J Yockey Callie J Maynard Windle Blanton Daisy D Nevels RULH HS students visit Jungle Jims Aberdeen Council has busy end of the year River Village Christmas celebration begins SR 41 now open Gast’s three-point shower drowns the Tigers Lady Rockets capture wins over Ripley, Batavia Keplinger signs with Shawnee State Warriors down the Devils, fall to the Greyhounds Broncos edge out Williamsburg, 53-50 Carol S Newman John E Short RULH Elementary names ‘Go Green’ Students RE/MAX Local Experts opens in Williamsburg RULH wraps up ‘No Shave November’ fundraiser Eleven indicted by Brown County Grand Jury Donald C Vance John C Morris Rebecca E Simpson Hot start sets pace for Broncos’ 85-40 win over CNE G-Men get off to 1-1 start Lady Rockets start off season with tough string of road games Basketball Special: 2017-18 Katherine J Wolfe Virginia J Germann Rev Commadora Manning Mona K Kirker Ohio Rural Heritage Association donates to Food Pantry RULH FCCLA attends meeting in D.C. RULH MS students try ‘Tabletop Twitter’ Ripley Village Christmas update Bonita Planck Carol J Wagner Christopher O Richey Sr Five new members to enter WBHS Athletic Hall of Fame Blue Jays ready to soar under Woodward Fischer named to OPSWA All-Ohio First Team of football all-stars High school girls’ hoop action kicks off in Brown County Formation of new joint Fire & EMS District discussed RULH students learn about ‘Global Food’ Personal financial management class at RULH High School Dale G Ferriel John E Slack Nicholas A Arthur Bonnie J Roush Charles E Faul Phyllis A Mills Carl L Watson Marc W Bolce Robert R Moore Robert K King June R Williams William T Ishmael Sr Deborah J Napier High school hoop action begins Fayetteville SAY Girls Wing Soccer Team finishes season among state’s Final Four Devils visit Georgetown for OHSAA Foundation Games Grandfather charged in boy’s death ‘Real Money’ at RULH Middle School Ripley High School celebrates Veterans Day Reward increases for information leading to conviction in Stykes’ murder Ripley Village Christmas update Kenneth M McKinley Vilvens signs with Mount St. Joseph SBAAC awards girls tennis all-stars Layman inducted into Miami University Athletic Hall of Fame SBAAC hands out awards to First Team girls’ soccer all-stars John D Marks Aberdeen Police Department receives ‘Shop With a Cop’ donation Benefit to take place Nov. 17 for Grace Copple St. Michael students take part in Community Soup Supper Voters return Worley to the bench Ruby A Ratliff Donna J Moore Stella M Glasscock Ellen L Gelter Alverda T Guillermin Justin N Beach EHS dedicates ‘Kiser Court’ SBAAC awards First Team football all-stars, winning teams Sizer earns SBAAC American Division Volleyball Player of Year honors for 3rd straight year Broncos to host Blue Jays for OHSAA ‘Jimmy Young’ Foundation Game, Nov. 17 Vern W Kidd Jr Brown County Election Results – 2017 Michael D Hines Raymond W Napier Leslie E Boyle Gary L Barber RULH NHS welcomes new inductees K-9 Units and handlers visit RULH High School EMS members honored for service Road work on Ripley streets to begin

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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