invocation justin ballew anr agent uga extension – decatur county
TRANSCRIPT
InvocationJustin Ballew
ANR AgentUGA Extension – Decatur County
NetworkingBreakfast
WelcomeDr. Kent Wolfe
Director, Center for Agribusiness and Economic Development, University of Georgia College of
Agricultural and Environmental Sciences
Local Comments
Mr. Rome Ethredge
County Coordinator/ANR AgentUGA Extension – Seminole County
Summary of the 2014 Georgia Agricultural & Agribusiness Outlook
Dr. Nathan Smith &Dr. Curt Lacy
Extension Economists,Department of Agricultural & Applied Economics
The University of Georgia College of Agricultural and Environmental Sciences
Animal Products and Timber Outlook
Dr. Curt LacyExtension Economist-Livestock
Key Factors Impacting Livestock Markets and Profitability
• Economy (consumer demand)
• Crop prices– Feeder cattle demand– Sector profitability
• Big picture items
05/30/13
Livestock Marketing Information CenterData Source: Bureau of Economic Analysis
12/06/13Livestock Marketing Information CenterData Source: Bureau of Economic Analysis, Compiled & Analysis by LMIC
Beef Cattle Situation & Outlook
01/05/0
8
03/15/0
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05/24/0
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08/02/0
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10/11/0
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12/20/0
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02/28/0
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05/09/0
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07/18/0
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09/26/0
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12/05/0
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02/13/1
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04/24/1
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07/03/1
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09/11/1
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11/20/1
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01/29/1
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04/09/1
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06/18/1
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08/27/1
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11/05/1
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01/14/1
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03/24/1
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06/02/1
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08/11/1
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10/20/1
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12/29/1
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03/09/1
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05/18/1
3$50.00
$70.00
$90.00
$110.00
$130.00
$150.00
$170.00
$190.00
$3.00
$4.00
$5.00
$6.00
$7.00
$8.00
$9.00
Relationship between Corn and Cattle Prices
500-600 Nearby corn futures
JAN
APR
JUL
OCT
90
100
110
120
130
140
150
160
170
180
MED. & LRG. #1 & 2 STEER CALF PRICES500-600 Pounds, Georgia, Weekly
Avg. 2007-11 2012 2013
$ Per Cwt.
Data Source: USDA-AMS, Compiled by LMIC
Livestock Marketing Information Center
BEEF COWS THAT CALVEDJANUARY 1, 2013
(1000 Head)
RI 2
NH 4
DE 4
5
CT 6
MA 7
NJ 9
11
VT 12
MD 41
70
90
113
155
174175
191200
221
231
260
290315 360
364
375
390
454
486490
510
527
610
651
686
694
715
851
908
912
922
925
10281328
1506
1688
1754
1757
1805
4015
0 to 155155 to 390390 to 912912 to 4016
Livestock Marketing Information CenterData Source: USDA-NASS
U.S. Total: 29295
02/04/13
-550
-119 -100
-79
-58-45
-44
-38
-32
-24
-22
-20
-20
-15-10
-10
-10
-10
-8
-5
-5
-5
-5
-4
MD -2
-1
MA -1NH -1
0
RI 0
DE 1
1
1
NJ 1CT 2
2
VT 24
4
4
5
10
2229
30
33
41
50 60
78
-550 to -15-15 to -1-1 to 44 to 79
CHANGE IN BEEF COWS NUMBERSJANUARY 1, 2012 TO JANUARY 2013
(1000 Head)
Livestock Marketing Information CenterData Source: USDA-NASS
U.S. Total: -862
02/04/13
-1368
-328-222
-171-166
-131
-126
-110
-100
-81
-76
-72
-65
-55
-49
-49
-44
-43
-42
-38
-36-36
-35
-23
-20-15
-14
-12
-12
-10
-9MD -1
NJ -1
-1 RI 0
0
CT 0
DE 0
0
NH 0MA 1
VT 38
14
1522
28
28
74
133
-1400 to -55-55 to -14-14 to 00 to 134
CHANGE IN BEEF COWS NUMBERSJANUARY 1, 2003 TO JANUARY 2013
(1000 Head)
Livestock Marketing Information CenterData Source: USDA-NASS
U.S. Total: -3236
02/04/13
1980
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2014
25000
30000
35000
40000
45000
50000
JANUARY 1 “BEEF COW FACTORY’U.S., Annual
Replacement Heifers
Beef Cows
Mil. Head
Beef cows down 3 % @ 29.3 milBeef replacement heifers up 1.8 % @ 5.20 milTotal beef cow factory down 2.5 %Expect January 1, 2014 to show decline 1-3% in cow herd.
Meat supplies were virtually unchanged for two years in a row
Source: USDA-WASDE, January 2014 Report
20122013
Projected2014
Forecast 13 vs 12 14 vs 13
Beef 26.00 25.72 24.32 -1.09% -5.76%Pork 23.27 23.20 23.58 -0.30% 1.61%Total Red Meat* 49.55 49.18 48.16 -0.75% -2.12%Broilers 36.64 37.75 38.90 2.94% 2.96%Total Poultry** 43.05 44.08 45.33 2.34% 2.76%Total Red Meat & Poultry 92.60 93.26 93.49 0.71% 0.25%
BILLION POUNDS PERCENT CHANGECommodity
Past and Projected Prices
2010 2011 2012 2013 2014 2015$40
$60
$80
$100
$120
$140
$160
$180
SE 500# steer SE 750# steer Choice fed steer SE Slaughter cow
Source: USDA, LMIC and UGA
Projected Beef Cattle Profits in 2014
• Cow-calf
• Stockers
• Finishing
Graphics source: CattleFax: Long-term Outlook. www.cattlefax.com
Beef Cattle Summary
• For 2013 expect lower production• Higher prices• Higher profits• More heifer retention
DAIRY SITUATION AND OUTLOOK
What will drive prices in 2014?
• Declining cow numbers• Strong demand for dairy
exports• Favorable feed prices• Production abroad
rebounds
Georgia Milk Production Since 2000
During this time, milk production per cow increased from 16,500 to 19,200.
Georgia Milk Mailbox Prices 2001-2014 (est.)
2014: $21.50 - $23.50
Other Considerations
• 2014 Farm Bill• Margin insurance• Tied to production controls??• Still being debated in Congress
Livestock Marketing Information CenterData Source: Iowa State University
Latest Data: November 2013
Big Story in Pork Production
• PEDV = Porcine Epidemic Diarrhea Virus.• Highly contagious type of Coronavirus• Confirmed in 22 states.• Deadly to small pigs and piglets.• Could reduce domestic pork production by 2-3
percent in 2013-2014.
Pork Summary• Expect slightly more
production• Stable prices• Improved profits
2010 2011 2012 2013 2014$60
$65
$70
$75
$80
$85
$90
$95
National Base Hog Price ($/Cwt. Carcass weight)
$/Cw
t. Ca
rcas
s
Livestock Marketing Information CenterData Source: USDA-NASS
Lower Feed Cost and 2013’s Reduced Broiler Production Leads to Expansion
Livestock Marketing Information CenterData Source: USDA-NASS, Compiled & Analysis by LMIC
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0
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U S POULTRY CONSUMPTION SHOULD INCREASE BASED ON INCREASED PRODUCTION AND REDUCED RED MEAT SUPPLIES
Per Capita, Retail Weight, Annual
Turkey
Total Chicken
Pounds
Livestock Marketing Information CenterData Source: USDA-NASS, Compiled & Analysis by LMIC
JAN
APRJU
LO
CT70
75
80
85
90
95
100
105
110
115
BROILER PRICES LOWER IN 2014 BUT HIGHLY PROF-ITABLE INTO 2015 (DEPENDING ON FEED COSTS)
National Composite, Weekly
Avg. 2008-12
2013
2014
Cents/Lb.
Livestock Marketing Information Center
Data Source: USDA-AMS
Big Picture Items
• Antibiotics• GMOs• Humane treatment of animals
Honey Reports 2013
Piedmont and North Georgia experienced 20-25% below normal honey yields due to:
- record amounts of rainfall - below average temperatures
Southern Georgia experienced the complete opposite with average to above average honey yields.
Due to a decrease in overall honey production, honey prices rose 11% from 2011-2012 and 10% from 2012-2013 with the trend expected to continue in 2014.
Timber and Forest Products Outlook
• Improving economy should help
• 91 bio-energy facilities planned for SEUS– 2 pellet mills in GA
• Improving exports– Hardwood to Europe– All wood and products to
China
Livestock, Poultry, and Timber Summary
• Improving economy should support demand for all livestock and poultry products.
• Lower grain prices and tight supplies will bolster demand for feeder cattle.
• Lower grain prices and increasing exports should support livestock and poultry prices.
• Higher prices and lower costs = higher profits in 2014.
Georgia Row CropsSituation and Outlook for 2014
Nathan Smith, Don Shurley, and Amanda SmithDepartment of Agricultural and Applied Economics
University of Georgia
Row Crop Situation Heading into 2014
• Challenging production season with wetter than normal conditions and cooler temperatures into middle of the summer and then dry late season.
• Supply outpacing demand in most crops.• Downtrending prices, especially since harvest.
2013 – Mixed Year For Yields
2013 Ag Forecast
2012 2013 5 Yr. Avg. RecordCorn 180 bu. 175 bu. 153 bu. 180 bu. (2012)Cotton 1,091 lb. 850 lb. 830 lb. 1,091 lb. (2012)Peanut 4,580 lb. 4,430 lb. 3,739 lb. 4,580 lb. (2012)Sorghum, Grain 55 bu. 50 bu. 45 bu. 53 bu. (2009)Soybean* 37.5 bu. 40 bu. 30.5 bu. 37.5 bu. (2012)Tobacco 2,250 lb. 1,750 lb. 2,196 lb. 2,470 lb. (‘91,’96)Wheat* 49 bu. 60 bu. 48 bu. 56 bu. (2008)
* New Record set in 2013
Corn Market Factors
• Record 2013 production.• Leveling off of corn-starch ethanol
industry.• Growing domestic use.• Increase in world production and use
(South America shifting back to soybeans).
U.S. Corn Supply and Demand
1392513150
19.8%17.5%
11.6%12.8%13.9%13.1%8.6% 7.9% 7.4%
12.4%
0%
10%
20%
30%
40%
50%
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
2004/05 2006/07 2008/09 2010/11 2012/13
Mil.
Bu.
Ending Stocks Production Domestic Use and Exports Stocks:Use
Record high crop in 2013/14Reversal of trend to, now increased stocks
Change in Pattern for Corn Use?
01,0002,0003,0004,0005,0006,0007,000
96/9
7
97/9
8
98/9
9
99/0
0
00/0
1
01/0
2
02/0
3
03/0
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8
08/0
9
09/1
0
10/1
1
11/1
2
12/1
3
13/1
4
Feed and Residual Ethanol Exports Food Seed and Other Industrial
Million bushels Ethanol use flattening outFeed use to rebound
Corn Price Outlook• South America shifting back to soybeans. • Exports, livestock feeding and size of U.S. and
foreign corn crops will influence corn prices in the future.
• Reduced U.S. acres 2 million or more. • Prices likely to range between $4.75 and $4.• Another 14 Mil. Bushel crop would push prices
below $4.
Soybean Market Factors
• Tight US supply situation. • Global demand for soybeans and products
growing.• Bullish exports sales and shipments.• Increase in South American production.
U.S. Soybean Supply and Demand
256 449 574 206 138 151 215 169 141 150
3,289
3,304
8.6%
15.6%18.7%
6.7%4.5% 4.5%
6.6% 5.4% 4.6% 4.5%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
0
500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
Mil.
Bu.
Ending Stocks Production Total Use Stocks:Use
2013 Reversal of down trend in production and use.Tighter supply situation due to increased exports.
World Soybean Supply and UseMillion Metric Tons
Beg Stocks
Production Imports DomesticCrush
Exports End Stocks
World 60.11 283.54 104.40 239.57 107.83 70.23
U.S 3.84 88.66 0.41 45.86 39.46 4.63
Total Foreign 56.28 194.88 103.99 193.71 68.36 65.60
Argentina 24.35 53.50 0 38.50 9.7 27.98
Brazil 15.76 89.00 0.10 37.00 44.00 19.76
Major Importers 13.05 14.83 93.62 89.79 0.34 14.46
China 12.19 12.20 69 68.35 0.23 13.66
Source: Janauary 10, 2014 WASDE
Soybean Price Outlook
• Relatively tight US supply again, but World supply not as tight.
• Crush about the same as last year.• Exports key for prices heading into 2014,
China growth and positive crush returns indicate more soybean imports.
• More acres in US and GA• Prices likely between $10 and $11 per bushel.
Peanut Market Factors• Better crop than expected in 2013 leads to
large carryover. • Exports down• Domestic Use up• Overall Use down
Peanut Disappearance by Use
'00
'01
'02
'03
'04
'05
'06
'07
'08
'09
'10 11 12
13F0
500
1000
1500
2000
2500
3000
3500
4000
3381.5
2087
502
1147
Food Use Exports Crush Seed, Shrink, Resid Production Carryover
1,00
0 T
ons
3,775 lb Yld 3,775 lb Yld 3600 lb Yld 4,000 lb Yld
2011/12 2012/13 2013/14+10% Acres,
1.144 M+15% Acres,
1.196 M+15% Acres,
1.196 M+15% Acres,
1.196 M
Beginning Stocks 758 502 1,386 1,147 1,147 1,147 1,147 Production 1,830 3,382 2,087 2,160 2,258 2,153 2,393 Total Supply 2,715 3,943 3,506 3,339 3,437 3,333 3,572 Total Use 2,213 2,557 2,359 2,447 2,447 2,447 2,447 Ending Stocks 502 1,386 1,147 892 990 885 1,124
USDA
1,000 Tons
2014/14
Peanut Projections
Peanut Price Outlook
• Early contracts offered for $425 per ton. • Some with $50 premium for High Oleic’s like
Georgia 09B.• Peanut prices to be determined in part by
cotton prices before planting. • Acreage expected to increase 10-15%• Prices likely to range between $425 and $475
per ton.
Cotton Market Factors For 2014
• Record level of World Stocks
• Slowly improving World demand
• Acreage and production in 2014
• Chinese stocks policy and impact on demand for imports (US exports)
79.67
2007 2008 2009 2010 2011 2012 20130
10
20
30
40
50
60
70
China ROW
Crop Year
Mill
ion
Bale
sEnding Stocks, China and Rest of the World (ROW)
China has built massive stocksBut, ROW has actually declined
China An Increasing Unknownand Source of Instability
• Two years of building stocks (why, impacts)
• Imports cut by ½ this year
• News that imports will decline further for 2014
• What will happen to large stocks/reserves?
• China began to auction off stocks, mills did not want
• News that some mills are closing, relocating elsewhere
2014 Price Outlook• US and World production likely to increase
• Demand should continue to improve
• Chinese imports (US exports) may decline significantly
• Prices (Dec14 futures) likely to range between 75 and 85 cents.
• High end of this range and rallies may depend on supply shocks
2014 Outlook
• Most prices lower due to increase in production. • Demand increases on soybean side. • Corn use other than ethanol to pick up.• Soybeans may have most optimistic outlook • Fewer acres of corn and wheat in Ga and more
acres of peanuts, soybeans. Cotton, stable to up.
• Profit margins tighter.
Georgia Major Row Crops Acres Planted*1,000 Acres
2013 Ag Forecast
* Tobacco is acres harvested. 2013 are authors projections except wheat.
2008 2009 2010 2011 2012 2013 2014P ChangeCorn 370 420 300 345 345 510 385 -25%Cotton 940 1000 1400 1600 1290 1370 1400 +2%Peanuts 690 510 565 475 735 430 500 +16%Grain Sorghum 60 55 45 50 55 55 55 0%Soybeans 430 470 270 155 210 230 250 +9%Tobacco 16 14 11.4 11.9 10.5 11.5 13 +13%Wheat 480 340 170 250 290 410 270 -34%
2014 Net Returns ComparisonNon-Irrigated
2013 Ag Forecast
Corn Cotton Peanuts Sorghum Soybeans
Expected Yield 85 750 3,400 65 30
Expected Average Price $4.60 $0.78 $440 $4.14 $10.80
Crop Income Per Acre $391 $585 $748 $269 $324
Variable Costs Per Acre $289 $436 $543 $226 $238
Return Above Variable Cost $102 $149 $205 $43 $86
2014 Net Returns ComparisonIrrigated
2013 Ag Forecast
Corn Cotton Peanuts Sorghum Soybeans
Expected Yield 200 1200 4,700 100 60
Expected Average Price $4.60 $0.78 $440 $4.14 $10.80
Crop Income Per Acre $920 $936 $1034 $414 $648
Variable Costs Per Acre $653 $542 $651 $344 $321
Return Above Variable Cost $267 $394 $383 $70 $327
KeynoteMr. Will Thompson
AssociateJames, Bates, Brannan, Groover LLP
Successful Succession
Willard D. Thompson, J.D., LL.M.
“By failing to plan, you are planning to fail.”-Winston Churchill
What We Will Cover
• Tax Law Update
• Critical Questions
• Techniques
Tax Law Update
“The hardest thing in the world to understand is the income tax.”
-Albert Einstein
2014 Tax Rates• Ordinary Income – highest marginal rate
39.6%• Capital Gains and Dividends – 20%• Estate Taxes – 40%• Medicare Investment Surtax – 3.8%• Additional Medicare Payroll Tax – 0.9%
Federal Transfer Tax Changes“Permanent” Lifetime Exemption• $5.34 million in 2014 per individual• Indexed for inflation in future years• Excess over exemption is taxed at 40%• Estate and Gift Tax are unified – they share the same
exemption• Portability Annual Exclusion• $14,000 per year to any beneficiary tax free• Expected to increase at a slower rate than the lifetime
exemption
Farmers, Landowners and Taxes• Unfortunately, no matter the laws in place,
farmers and landowners often bear more than their fair share of the Transfer Tax burden
• According to the US Department of Agriculture, a farmer is more than twice as likely to owe Federal Estate Tax at death as an average person
• After they have paid a lifetime of Income Tax, their assets may be subject to Estate Taxes at their death
Business Succession
“Plans are nothing; planning is everything.”-Dwight D. Eisenhower
Succession is a Process• Succession is a whole-family process that
affects everyone in the family deeply and differently
• It will change the family system forever• More often than not, the new business
leader also becomes the next leader of the family
Succession is a Process Continued• It is not a one-size-fits-all process• Owners of family farms and agribusinesses, in particular, struggle
with unique characteristics that extend beyond the business to personal relationships
• It is the ties among parents, children, siblings, spouses and in-laws that make a succession plan a necessary part of not only managing personal wealth but more importantly the business itself
• It is important to talk with your family about establishing a business succession plan to begin the process of developing a transition for your family business
• With open communication, between generations, it is more likely that your business goals with be met while maintaining harmony in the family
Nine Reasons Family Businesses Fail to do Succession Planning
• It is not urgent• The focus on tax avoidance and “drop dead plans” creates a false sense
of security• Family member and/or employee push back• It is always safer not to change• Family businesses do not know how to undertake succession planning• Lack of courage among the next generation family business leaders• Senior generation family business leaders do not know how to be fair to
their non-employee children relative to their employee children with respect to inheritance
• Family businesses see succession planning as an event – not a process• It costs too much
What to do with the Family Business?
Basically, you have three options:• Pass it on to the family members• Plan to sell it while you are alive• Let your estate sell it
Critical Questions
“When planning for a year, plant corn. When planning for a decade, plant trees. When planning for a life, train and educate people.”
-A Chinese Proverb
Critical Questions• How do we select the next leader of the company?• When do we decide who will be the next leader of
the company?• When and how should leadership transition take
place?• How do we evaluate our new leader’s job
performance?• How do we provide meaningful careers for other
family members who are not chosen to lead?
WHO IS GOING TO BE YOU?
Find Your Successor and TRAIN HIM/HER NOW!
• 70-80% of family businesses pass to the owners’ children• Not surprisingly, 70-80% of these businesses then FAIL,
because the next generation has no idea how to manage the assets
• So…• If the farm or agribusiness will stay in the family, who will run it?• Is that person currently working in the business?• Are they being trained to run the business?• Are they currently being brought in on the decision making process?• Is there someone who can assist a family member in running the
business after you are gone?
What are the Problems we see with These Potential Heirs?
• Not financially responsible• Do not understand the family business• No clue as to the amount of work it took to
accumulate your wealth or the value of money
• Constantly spending beyond their needs• Potentially ruin the initiative of younger
generations
How to Avoid These Problems?You need to start planning!
“A good plan today is better than a perfect plan tomorrow.”
- George S. Patton
Techniques
Planning Techniques• Doing nothing (approximately 80% of Americans)• Joint Ownership with spouse• Giving away assets during lifetime• Beneficiary Transfers• Wills• Irrevocable Trusts• LLCs (Limited Liability Companies)• FLPs (Family Limited Partnerships)• Buy-Sell Agreements
Doing Nothing• Means dying “intestate” (legal jargon for
“without a Will”)• Each state has laws that dictate how an
intestate person’s property will be distributed• You have absolutely NO CONTROL• Property may go to people you don’t want and
in ways of which you do not approve• This technique is roughly described as “letting
the chips fall where they may”
Joint Ownership with Spouse• Planning may be necessary after the death of
the first spouse when still in a period of mourning
• No time for planning if both spouses die simultaneously
• Assets are subjected to creditors and predators of both spouses
• There is NO remarriage protection:• Your assets may end up with people you never knew
The Next Husband
Giving Away Assets• You lose control• May cause huge problems if Medicaid
assistance is needed within 5 years after the gift is made
• You may lose significant tax benefits (although, if properly done, you may gain some significant tax benefits)
What is a Will?• A formal document that allows you to direct the transfer
of property you own at your death
A Properly Drafted Will Allows You To:• Set aside to provide for your surviving spouse for
her lifetime• Choose who receives those assets after the
surviving spouse’s death• Select which children ultimately receive which
assets and in what amounts (i.e., farm vs. insurance)
• Avoids or minimizes family confusion and disagreements
• Minimizes or eliminates estate taxes
What is a Trust?• A Trust is a legal relationship – a special kind
of contact designed to control property management and distribution
• A Trust has three separate roles:• Grantor (also referred to as Trustor, Settlor, or
Creator) who created and funds the Trust• Trustee who holds the property and administers the
Trust• Beneficiary who receives benefit from the Trust
What is a Trust?• A Trust is a contract between two parties for
the benefit of a third party
Grantor
Beneficiary
Trustee
Wills and Trusts Enable Sophisticated Estate Planning
• Creditor/Predator Protection• Remarriage Protection• Estate Tax Minimization• Additional care for children (or spouses)
with special needs that are disqualified for government benefits
Limited Liability Companies• LLCs are highly flexible and customizable tools
that hold many benefits for small business owners (including farmers and ranchers)
• LLCs can be thought of as a hybrid between a partnership and a corporation
• LLC Operating Agreements can restrict ownership in the company only to lineal descendants or trusts where the ultimate beneficiaries are lineal descendants
Family Limited Partnerships• FLPs are also highly flexible and
customizable tools that hold benefits for small business owners like farmers and ranchers (similar to LLCs)
Present Benefits of LLCs and FLPs• Allows control to be maintained by the
organizers, as opposed to gifting undivided interests
• Limits personal liability
Lower Estate Taxes• Non-controlling and marketability
adjustments can reduce the fair market value of ownership interests
• Gifting of ownership interests• The annual exclusion is currently $14,000 for an
individual (or $28,000 for a married couple)• Annual gifting of LLC interests in these amounts can
greatly reduce the size of your estate
Equalizing Gifts Among Heirs• One way to equalize the inheritance received by
children who are active in the operation of the farm or ranch with those who are not is to create two classes of ownership
• Another way to equalize inheritance is to prepare a Buy-Sell Agreement requiring active children to “buy out” the passive children
• FLPs and LLCs can also utilize Buy-Sell Agreements and other provisions that restrict the transfer of interests in these entities (e.g., only your descendants)
Other Vehicles for Succession and Estate Planning
• Grantor Retained Annuity Trusts (GRATs)• Self-Cancelling Installment Note (SCINs)• Annual Gifting using Annual Exclusion• Use of lifetime exemption to move
appreciated property to the next generation• Dynasty Trust or Generation-Skipping Trust• Irrevocable Life Insurance Trust
Conclusion
• There is no better time than the present
WARNING!
The United States Department of Agriculture has several restrictions and limitations when using LLCs and FLPs to hold farm property, so
be sure to check with your agriculture attorney to see how using an LLC or FLP will affect your
farm plan before using either for estate planning purposes
QuestionsDr. Kent Wolfe
DirectorCenter for Agribusiness & Economic DevelopmentThe University of Georgia College of Agricultural
and Environmental Sciences
Comments from Event Sponsors
Mr. Jeff Nunnery9th District Field Representative
Georgia Farm Bureau
Comments from Event Sponsors
Mr. Jack SpruillMarketing Director
Georgia Department of Agriculture
Closing Remarks
Dr. Kent WolfeDirector
Center for Agribusiness & Economic DevelopmentThe University of Georgia College of Agricultural
and Environmental Sciences
Thank you for
Attending!