If youre struggling with how to transfer a successful farm business to the next generation, then this book is for you. This bulletin is designed to be a reference that is used over and over. The authors address five key questions: Do we have an economically viable business to transfer? Are there enough income and assets to provide for the older generations retirement needs? How can we happily work together to help make the transfer a success? What should be transferred to the next generation and when should it be transferred? How do we avoid paying unnecessary income, gift, and estate taxes? Addressing the five questions wont be easy. But failure in any one of these areas will make it difficult, if not impossible, to transfer a successful on-going farm business to the next generation.
This bulletin can be purchased at Ohio State University Extension's eStore at http://estore.osu-extension.org/. Search for Product Code 862.
All educational programs conducted by Ohio State University Extension are available to clientele on a nondiscriminatory basis without regard to race, color, creed, religion, sexual orientation, national origin, gender, age, disability or Vietnam-era veteran status.
Keith L. Smith, Associate Vice President for Ag. Adm. and Director, OSU Extension.
TDD No. 800-589-8292 (Ohio only) or 614-292-6181