Every farm business will be transferred someday, with or without a plan by the owner, or go out of operation. Depending on the objectives of the owner, the transfer can be during or after the life of the current owner. Decisions should be made on whether to provide for the continuation of the farm business and management responsibilities or just transfer the ownership of assets. The most common methods of transferring property are by installment or outright sale, gift, lease, buy/sell arrangement, or inheritance. There are many variations of selling procedures with the associated advantages, disadvantages, and tax implications to be discussed later. Gifting also has potential tax implications but reduces future income sources for the donor. A true lease allows for the purchase at the end of the term at the fair market price. Inheriting property has some tax advantages, but it delays the transfer of ownership until there is a death. Consult OSU Extension Bulletin 595, "Estate Planning Considerations for Ohio Families." A business transfer plan may choose to use a combination of all methods. The first question to answer, however, is, "Do we have an economically viable business to transfer?"