Special briefing highlights personal finance issues related to local energy development
Carroll, Harrison, Jefferson and Tuscarawas County business and community leaders, as well as interested residents are invited to attend a special program focusing on financial planning and tax ramifications associated with oil & gas leasing and pipeline easements. The program is sponsored by the Carroll, Harrison, Jefferson and Tuscarawas County Farm Bureaus. The briefings will be held at the Hopedale Fire Hall (103 Firehouse Lane, Hopedale, Ohio 43976) on Monday, November 12th at 7:00pm and Wednesday November 14th, 7 p.m. at the First Christian Church (104 3rd Street NW, New Philadelphia, Ohio 44663).
The program will be facilitated by Ohio Farm Bureau Federation (OFBF) Director for Energy Services, Dale Arnold. “Bonus payment provisions, land rentals, royalties and easement settlements – Landowners are new seeking counsel to address financial issues,” Arnold said. “Many are learning that a variety of procedures and strategies need to be in place before leases and easements are signed, and the first checks are received.”
Additional resource speakers for the evening are Chad Endsley, Director of Law, Ohio Farm Bureau Federation and David Shallenberger, CPA, REA and Associates, Inc. During the course of the program, farmers and rural residents will explore estate planning and business and farm succession planning tools and techniques that can help provide resources for future generations, preserve the family farm, carry out philanthropic objectives, and minimize estate taxes. Topics include wills, trusts, life insurance, long-term care planning, estate tax and business structures.
Separating mineral and surface rights in real estate transactions is a growing concern. Resource speakers will discuss key points landowners will need to address as they purchase land for residential, agricultural or business use where the mineral rights to the property are held by a different party.
“Many folks in the counties have a number of questions and concerns.” Michele Specht, Organization Director for Carroll, Harrison, Jefferson and Tuscarawas County Farm Bureaus said. Our County Farm Bureau Public Policy Action Teams are sponsoring these briefings to help local citizens learn more about financial and quality of life issues related to recent and local growth in the energy industry.”
The Ohio Farm Bureau Federation is the state’s largest general farm organization, encompassing 87 county Farm Bureau organizations and over 225,000 member families statewide. The four county Farm Bureau leaders are active on state and local action teams working on legislation, regulations and issues that impact agriculture and its relationship with rural, suburban and urban communities.