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Estate planning is a process not a onetime event because of continual changes in the farm business, family situation and state and federal laws. Farmers need to schedule an annual check-up with their attorneys to make sure that the estate plans they have will still fulfill their stated objectives. OSU Extension has revised the Basic Estate Planning Fact Sheet series so the information is current for 2012. These revised factsheets have been published and are available at http://ohioline.osu.edu/ep-fact/index.html or you can click on the following links to read them.
- Introduction, EP-1-12(pdf only)
- Costs Involved in Transferring Property, EP-2-12(pdf only)
- Tax Basis if Property Is Transferred, EP-3-12(pdf only)
- Why Have a Will?, EP-4-12(pdf only)
- Letter of Instruction, EP-5-12(pdf only)
- Life Insurance, EP-6-12 (pdf only)
- Trusts, EP-7-12 (pdf only)
- Giving, EP-8-12 (pdf only)
- Sale of Residence, EP-9-12 (pdf only)
- The Nursing Home Dilemma, EP-10-12 (pdf only)
- Medicare and Medigap, EP-11-12 (pdf only)
- Miscellaneous Issues, EP-12-12 (pdf only)
Dr. Bill Weiss, Professor and Extension Specialist & Dianne Shoemaker, Extension Field Specialist, Dairy Production Economics
With a “normal” corn crop, pricing a standing crop for silage can be “interesting”. Pricing a drought-stressed corn crop is even more interesting. What is the actual nutrient content of the crop? How well will the crop ferment? Will nitrate levels put the potential silage crop at risk? There are many unknowns, with the biggest challenge being how to determine the dollar value to assign to that risk.
The value of drought-stressed corn silage can be estimated using expected nutrient composition and the cost of the nutrients. The average composition of drought-stressed corn silage in Table 1 is reasonable, but the composition of silage for a specific situation (e.g., hybrid, growing conditions, etc.) could be substantially different. The nutrient values were calculated based on numerous feed prices in central Ohio. To read more click here to download the pdf of 2012 Pricing Drought Stressed Corn Silage
By: John Newton, Ph.D. graduate student and Cameron Thraen, OSU Extension State Specialist, Dairy Markets and Policy, Department of Agricultural, Environmental and Development Economics, The Ohio State University
The following key information has been generated by simulating the milk marketings of 5,000 representative farms over the time period 2006-2012. Representative farms were structured to include herd demographics, seasonal production patterns, and farm growth rates common to farms found in Mideast portions of the U.S. Portions of the 2012 margins were estimated using Chicago Mercantile Exchange futures prices. All of the provisions contained in the U.S. Senate version of the DMPP and DMSP have been implemented over this period. To read the entire article click to download the DairyPolicyWatch_2012
Information presented above and where trade names are used, they are supplied with the understanding that no discrimination is intended and no endorsement by Ohio State University Extension is implied.
Ohio State University Extension embraces human diversity and is committed to ensuring that all research and related educational programs are available to clientele on a nondiscriminatory basis without regard to race, color, religion, sex, age, national origin, sexual orientation, gender identity or expression, disability, or veteran status. This statement is in accordance with United States Civil Rights Laws and the USDA.
Keith L. Smith, Ph.D., Associate Vice President for Agricultural Administration and Director, Ohio State University Extension TDD No. 800-589-8292 ( Ohio only) or 614-292-1868