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COA Corner: How do you get a “Transition Plan” in place?

Published Jan. 7, 2013 | Discuss this article on Facebook
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DONNA MORTER, COA

Recently, I attended a meeting called “Land as Your Legacy” in conjunction with Nationwide Insurance.  The meeting was designed to inform and answer some common questions about transition planning and ensuring that your home and assets are distributed the way that you want after you are gone.  This is important for all members - non-farmers, active or retired farmers or young farm families who have tangible assets such as land, livestock or equipment which may be difficult to divide evenly or fairly among heirs or sell to help pay off taxes and expenses.

So, what if you have a plan in place regarding your farming operation?  Is it time to review that plan to ensure it is up to date and meets your desires?  Farm Bureau has a “member benefit” that is a great savings for you to take advantage of.  If you meet with a Nationwide Agent to compile information regarding your “plan of action”, then a team of professional advisors at Ohio Farm Bureau will meet confidentially to analyze your assets, legal criteria and plan (S-Corp, LLC, Partnership, etc).  A personalized document will be prepared informing you of any action you could take to have the most advantageous plan for you.  There is no charge to you, except for the time involved to gather the required information.  This is a great way to start a plan of action or get a second opinion and be assured that you have begun the process of planning for the future.

Call the office 419.447.3091 or toll free 877.447.3091 if you have any questions!

Donna Morter, COA

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