Ohio Farm Bureau Health Plans: What’s next?
Specific enrollment details for the new Health Plans will be available this fall. In the meantime, add your name to the notification list for when the plans are ready.
Read MoreA large number of farm succession plans are trust-based due to the need for flexibility and creativity to address a farmer’s succession goals. The trust assets will be managed by a trustee, which makes selecting a trustee a key question for you and your family to answer.
Needless to say, you want to select a trustee who you can trust.
When selecting a trustee, you should keep a couple important traits in mind.
First, a trustee should be organized and good with keeping records. Your trustee must be capable of managing the various assets in your trust.
Second, a trustee must also be able to follow the directions that you put into the trust document, as well as handle the discretionary decisions you give him or her. Your trust is likely to include both direction and discretion, but the balance between these is up to you. You might favor direction if you trust the trustee, but are concerned about his or her ability to withstand pressure from beneficiaries.
Third, a trustee should be someone you can rely on. If you are already hesitant while you are still alive, that could be your gut telling you that this person might not be the best person to carry out your legacy.
Farmers typically select a qualified family member or friend to serve as trustee. If you do not have a family member or friend who is qualified to serve as trustee, you can always designate a corporate trustee, such as a bank or trust company. Corporate trustees charge an administration fee, so be sure you understand how much they charge before you select a corporate trustee.
A major goal of farm succession planning is for you to sleep easily knowing that your legacy is secure. Talk about your trustee options with family, friends or your attorney. In the end, trust your instinct.
Wright & Moore Law Co., LPA has a rich heritage in Ohio agriculture. Since 1988, our firm has proudly assisted farmers, rural residents, and landowners from all over the state with their farm succession planning and agricultural legal needs. We would be happy to discuss your family goals and how to meet them. To learn more about Wright & Moore or schedule a meeting, call 740-990-0750 or visit OhioFarmLaw.com.
Specific enrollment details for the new Health Plans will be available this fall. In the meantime, add your name to the notification list for when the plans are ready.
Read MoreKayla Scott of Mineral City serve Farm Bureau members in Carroll, Harrison, Jefferson and Tuscarawas counties.
Read MoreThe 2025 Ohio Farm Bureau Foundation Golf Invitational raised $115,000 for foundation scholarships, grants and programs that help enhance agricultural communities and support careers in agriculture.
Read MoreThe goal will be for members to have access to these new health plan options as early as January 2026.
Read MoreAny unlicensed handlers who use restricted use pesticides will need to have additional training. Farm Bureau will be working on legislation to give employers a choice on how to provide training.
Read MoreThe budget includes funding for: H2Ohio, animal health and animal disease response, the College of Veterinary Medicine at Ohio State, and the Brownfield Remediation Program.
Read MoreThe 2025 algal bloom for the Western Lake Erie Basin is expected to have a severity index of 3, according to the final forecast from the National Oceanic and Atmospheric Administration.
Read MoreKyle and Samantha Daugherty of Coshocton County are the perfect example of next generation agriculturalists embracing the world of technology on their family farm.
Read MoreBefore deciding whether to organize your farm or business as an LLC, talk to an attorney, accountant or other trusted financial adviser who can help you determine if it’s the right move.
Read MoreOver 30 tour participants witnessed a variety of conservation strategies in action, including cover crops, no-till and strip-till systems, two-stage ditches, land buffers and advanced manure management.
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