What is estate planning? Simply, estate planning is arranging for the use and disposal of your resources and property after your death. It allows you to look at the total picture.
You should give some time and thought to plan your estate.
Here would be some steps to consider:
1. Know what you have and where it is:
• What do you own? What is your net worth? Where are your important papers?
2. Know how you want your estate to be handled:
• What are your goals for your estate after your death? Who, as your estate planning team, can help you meet those goals?
3. Know how to provide for distribution of your property after your death:
• Probate/will. Trusts. Gifts.
4. Put your plans on paper:
• Prepare the proper documents. Know the tools to use while you are living: durable power of attorney, advanced medical directive, and a preplanned funeral.
Accepting the fact that you are going to die someday, ask yourself: “If I should die tonight …”
• What would happen to my property?
• Who would care for my minor children or aging parents?
• Would my spouse and children be provided for?
• Would the family business continue?
• Would the estate settlement be conducted by someone with my family’s interests and needs in mind? • Would estate and inheritance taxes, probate fees, and other administrative or legal costs be held to a minimum?
If the answers to these questions are important to you, you should consider developing an estate plan.
Estate planning is not a process that can be done overnight, and it can change as our lives continue to change.
Last year about this time the Clinton County Extension office sponsored a program “Getting your affairs in order.” This program looked at what all was involved in the estate planning process and we took some time to discuss the “what if’s” when tragedy may strike such as death, disaster or severe illness or injury. This program was designed to get families started in the estate planning process.
On March 5, 2020, Peggy Hall, Ohio State University Extension Agricultural & Resource Law specialist, will help to take our discussion farther by addressing “What are the pieces and parts one really needs to address in an estate plan – the legal business side of estate planning.”
This program again is 6:30-8:30 p.m. March 5 at the Clinton County Extension Community Room, 111 S. Nelson Ave., Wilmington. There is no charge, but we ask that you RSVP by calling our office at 937-382-0901.
Another hot topic in agriculture has been cover crops. On Tuesday, Feb. 25 at the Wilmington College Center for Science and Agriculture building, Room 149, there will be two sessions presented. The first session will be held from 3:30-5 p.m. and the second session will be from 6-8 p.m.
The afternoon session will be more introductory in nature for those that have an interest in getting started in cover crops and the evening session will be more advanced in the utilization of cover crops.
The featured speaker will be Hans Kok, Program Agronomist at Indiana In-Field Advantage program. Kok has spoken across the country promoting the usage of cover crops, enhancing conservation and strengthening soil health
Other speakers include Roger Wenning, Cover Crop Advocate from Greensburg, Indiana, and Highland County farmer and cover crop advocate Nathan Brown.
Whether you have been cover cropping for years or just thinking about utilization of cover crops, there will be information at this event for everyone. Discussion will include some introductory information regarding cover crops.
There will be information related to what cover crops work best and the selection criteria to help determine which cover crop is best suited for certain situations on farms.
This program is sponsored by Wilmington College, Wilmington College Agronomy Club, OSU Extension Clinton County, and the Clinton Soil and Water Conservation District. This event is free and open to the public. For more information feel free to call Tony Nye at 937-382-0901 or Jason Sneed at 937-382- 2461.
Tony Nye is the state coordinator for the Ohio State University Extension Small Farm Program and has been an OSU Extension Educator for agriculture and natural resources for over 30 years, currently serving Clinton County and the Miami Valley EERA.