Lairds to host Cattlemen’s field day
DOVER Judging competition,
a farm tour, and management
discussions will highlight the
Southcentral Pennsylvania Cat
tlemen’s Field Day, scheduled for
Saturday, Aug. 11, at the Walter
and Nellie Laird farm, 1470
Rohlers Church Road.
' A tour of the Laird’s 75-head
registered Angus cow-calf
operation is planned just prior to
lunch during the all-day beef
producer’s field day. High points of
that tour include a look at the 200
acres in hay and pasture, round
bale feeding, plastic bag haylage
and forage testing
Registration begins at 9 a.m.,
followed by a judging contest of
several classes, for ladies, mens
and juniors’ divisions. Type
discussions are planned, led by Bill
Holloway, York beef judge and
Glatfelter Insurance farm advisor,
and Lancaster County extension
agent Chet Hughes.
Following a beef luncheon, a
management panel will include
Holloway and Hughes, William
Rankin, Hanover, manager of Tn-
County feedlot, Paul Heffner, cow
calf operator, and Sam Hunter of
Huckelberry Hall Farm
purebreds.
Throughout the day, displays by
agri-businesses on equipment,
feeds minerals and related beef-
Bravo*soo.
yield
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Walter and Nellie Laird will host Southcentral Pa. Cat
tlemen’s Field Day on Aug. 11 on their York County Angus
farm.
production products will be open
for visiting.
Directions to the Laird farm are
as follows; take Route 74 north
through Dover, toward Wellsville.
Turn right on Rohlers Church
Road, and continue for about two
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and one-half to three miles. The
Laird farm is on the left.
For additional information,
contact the York County Extension
Office, 112 Pleasant Acres Road,
York, or phone 717-757-9657.
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Brockeff’s Ag Advice
FARM USE VALUATION
Some estate planners neglect
this potentially valuable tool.
There is a lot of confusion on what
it is, when it works, and how to use
it.
What - In effect it says that your
estate can value your farm at its
“use” value rather than its market
value. There are some stipulations
that must be met. The decedent or
close relative must have operated
the farm in five out of the previous
eight years. A close relative who
will continue to operate the farm
must acquire it by will or purchase
from the estate. It can reduce the
estate by as much as $750,000.
Savings are substantial so it should
be considered.
When - If the farm estate size
becomes large enough to trigger
federal estate taxes, farm use
valuation should probably be used
if it qualifies. Use valuation should
not be used (a) if there is a sur-
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Lancaster Farming, Saturday, August 4,1984-DI9
By John E. Brocket!
Farm Management Agent
Lewistown Extension Office
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viving spouse who gets the farm,
(b) if the farm will be sold in the
near future to anyone other than
qualified heif, (c) if the total net
asset value of the estate is too
small to cause a federal estate
consequence anyway.
How - There are a number of
ways to calculate use value. The
two most commonly used ones are
(a) capitalizing potential
production values, and (b)
capitalizing cash or share crop
rents for similar properties.
If a state has a regular uniform
method for applying use valuation
for real estate tax purpose, it will
be acceptable.
Suggestion: Farm use should be
part of any estate plan as an
alternative. It should not be
mandated in a will because there
may be an advantage in not using
it. The executor and attorney for
the estate should have the
flexibility to decide for or against
it. However, you may want to alert
them to its availability through
your will.
SOME OF THE FACTS
Here are some of the basic facts
on the “use” valuation.
A. Qualification - must go to a
qualified heir, must have been
operated by decedent or related
party in five out of prior eight
years (property traded for like
property or acquired due to land
condemnation would carry
operation time of previous
property), qualified heir must
operate for 10 years after receipt
(actively managing as through a
share cropping program evidently
counts).
B. Qualified heirs - spouse,
parents, brothers, sisters,
children, and step-children plus
spouses and lineal descendents
(and spouses) of those individuals.
Thus nieces and nephews would
qualify but not cousins.
C. What about a trust - a trust
can be a qualified heir if the
trustee has the discretionary
power to fix the amounts
receivable by an individual
beneificiary so long as all potential
beneficiaries are qualified heirs.
Thus, a non-marital (by-pass)
trust could be devised to qualify.
D. Taxes - Pennsylvania will
usually accept the “use” valuation
set for federal purposes. The in
come tax “new cost basis” will be
based on the use value (so be
careful that you don’t lose more
income tax benefits than you gam
in estate tax earnings).
Parvo virus
in Md.
ANNAPOLIS, Md Two cases
of parvo virus were diagnosed in
Maryland swine herds earlier this
year, according to Dr. Stauffer
Miller of the Maryland Depart
ment of Agriculture, Office of
Animal Health and Consumer
Services. This is an important
viral disease of swine which can
result in serious economic losses to
Maryland producers who fail to
take necessary precautions.
Concerned producers should
contact their veterinarians
regarding the innoculation of
susceptible animals with one of the
several protective vaccines which
are available.
Parvo virus can be devastating
to a farrowing program. Don’t take
chances. Consult your veterinarian