October 2020 Newsletter – Smooth Transitions of the Farm to The Next Generation
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Catawba Valley Cattlemen’s Association (meets the 2nd Tuesday of each month)
This month’s “double” educational meeting is on Tuesday , October 13, 2020, 5 & 7 p.m., with single business meeting in between at Howard Reinhardt’s Forest. Gps: 6793 Startown Rd., Maiden
Please do not attend if any symptoms are present in your body. Thanks
5–6 p.m. & 7–8 p.m. – Educational Programs: Smooth Transitions of the Farm to the Next Generation
(Due to Covid we are encouraging folks over 65 and health issues to attend the first educational meeting)
Speaker: Andrew Branan, JD, Extension Assistant Professor, Cooperative Extension Service.
6–7 p.m. First group – Eat Hamburgers. Condiments will be packaged. Wear masks when not sitting. Sit 2/table unless same family or riding same car. Attend business meeting 6:30–7 p.m.You may leave at any time.
6:15–7 p.m. Second group – Eat Hamburgers. Condiments will be packaged. Wear masks when not sitting. Sit 2/table unless same family or riding same car. Attend business meeting 6:30-7 p.m.You may leave at any time.
6:30–7 p.m. (Time may vary) Business Meeting: Mr. Brandon Bowman – President. Topics 1) BBQ details Nov.
7–8 p.m.: Second Educational Program: Same as first except focus will be for younger than 65.
8 p.m. – Meeting adjourned.
Announcements Check out ncAgventures.org à Grants up to $8,000.
Because of COVID-19 W, we will make Zoom meeting available if you call our office before the meeting. 828.465.8240.
Ø Evan Harris, just out of CVCC has a new business “Evan’s Outdoors Welding & Fabrication” Portable Welding: Aluminum, Custom Flatbeds & trailers, pontoon repairs, “If it’s broke and needs fixing he can fix it!” (828)381-1843.
Ø A neighbor in Lincoln County needs a bull for breeding 2 cows and heifer starting mid Oct. Contact: Addison Bradley at 828.884.3109. Call if you would be willing to loan a bull.
Ø Grant money is available via the FSA again! USDA is implementing Coronavirus Food Assistance Program 2 for agricultural producers who continue to face market disruptions and associated costs because of COVID-19. Livestock eligible for CFAP 2 includes: beef cattle, hogs and pigs, and lambs and sheep. Additional specialty livestock commodities are also eligible, Specialty Livestock. For beef cattle: payments will be equal to the producer’s maximum owned inventory of eligible beef cattle, excluding breeding stock, on a date selected by the producer from April 16, 2020, through August 31, 2020, multiplied by the number of payment limitations for the producer, multiplied by the payment rate of $55 per head. Please contact the Farm Service Agency for application before December 11, 2020 deadline. Call 704-872-5061 Ext. 2 Statesville office or Dallas office in Gaston County 704-922-3806.
A Thank You letter sent by 1 of our 2 Scholarship winners this year of 2020.
I, (Glenn Detweiler) am proud of all cattlemen of CVCA who are investing in the next generation by using scholarships.
In our survey last winter, over 10 cattlemen ask for a program on transferring our hard worked for assets to the next generation. I am pleased to get a professor who practiced farm law in the past. Andrew Branan will provide an overview of the planning process for disposition of assets, as part of a general farm succession plan or otherwise. He will review tax consequences of disposition by sale, gift, and disposition at death. Andrew will also review the basics of testamentary documents – wills and trusts formation – in the farm land and business succession context, as well as how business entities (e.g. limited liability company) are used in asset protection and land and business transfer to family members. He will be on hand to answer general legal questions related to land title, easements, fencing liability, and other matters presented by attendees. Any advance questions emailed to Andrew (firstname.lastname@example.org) or Glenn Detweiler (email@example.com) are appreciated. Robert (“Andrew”) Branan, JD Extension Assistant Professor 4336 Nelson Hall 919 515 4670 (o) 919 619 8479 (c)
LEGAL EDUCATION DISCLAIMER: The above response is not legal advice, and the sender is not your lawyer. The above information is in response to your question, but should not serve as the basis for making a decision regarding the title to or disposition of your property. It is the opinion of the sender and is intended for educational purposes only. You are encouraged to seek professional tax or legal advice in regards to your facts and circumstances regarding the application of these general tax principles. This message is intended only for the named recipient and may contain information that is confidential, subject to attorney-client privilege, work-product doctrine, and other privileges. If you are not the intended recipient or have received this communication in error, you are hereby notified that any dissemination, distribution, or copying of this communication is strictly prohibited, and requested to notify the above-named sender immediately by email and destroy the original message and any copies you have made, electronic or otherwise. TAX ADVICE DISCLAIMER: To the extent that this email or any attachment contains legal or tax advice, this written advice is not intended or written to be used, and it cannot be used, by any taxpayer for the purpose of avoiding penalties that may be imposed on the taxpayer. Farmlaw website