ElO-Uncaster Fanning, Saturday, March 7,1987 Legislation Changes Offer Greater Flexibility In Estate Planning MEDIA - Recent changes in estate and gift tax laws offer new tools and greater flexibility in estate planning, according to Maryetta Dorncott, Delaware County Extension home economist. Estate planning also involves decisions to transfer property during lifetime to avoid transfer at death. The first step in estate planning is carefully establishing an in ventory of assets and objectives. After that, a careful analysis should be made of the manner in which property is owned, the distribution of property in an existing will or the state laws where the owner resides, and the impact of state and federal inheritance or estate taxes. Transfer of ownership can be accomplished in a variety of ways One way is through some form of joint tenancy provision. For example, property owned jointly with the right of survivorship passes to the surviving owner or owners at death of one of the current owners. If the joint owners are husband and wife this interest is viewed in Pennsylvania as a tenancy by the entireties, which provides for the transfer of ownership to a surviving spouse when one spouse passes away. A second way to transfer ownership is through the intestate succession statute that applies in the state where the individual resides at death. This statute furnishes an estate plan for those who did nothing about ownership Poultry Marketings Increase HARRISBURG - Placements of three-weeK total of eggs set is 26 broiler chicks in the Com- percent above the comparable monwealth during the week ending period a year ago. February 21,1987 were 2,248,000, 5 Expected marketings, based on percent above the previous week placements seven-nine weeks and 19 percent above the earlier less mortality allowance, in corresponding week a year earlier. Pennsylvania for the week ending Average placements during the April 18, 1987 will be 2,175,000, 17 past nine weeks were 16 percent percent above a year earlier. above a year ago. Settings for Broiler-fryers slaughtered in broiler chicks were 3,207,000, 3 Pennsylvania under Federal In percent above the previous week spection week ending February 11, and 35 percent above the same 1987 totaled 1,821,000 with an period a year earlier. The current average hveweight of 4.20 pounds Potatoe Stocks Shrink HARRISBURG - Total stocks of Stocks are defined as the potatoes stored in Pennsylvania on quantity remaining in storage for February 1, 1987 were 2,100,000 all purposes and uses, including cwt., 20 percent less than a year shrinkage and waste and other ago, according to the Pennsylvania losses that occur after the date of Agricultural Statistics Service. Of each report. Sales of fall potatoes this amount, 795,000 cwt was for all purposes generally account stored in processor’s facilities for about 90 percent of the total fall representing 38 percent of total production stocks 'l*' STRIKE IT RICH! SELL IT WITH A LANCASTER FARMING CLASSIFIED a.\ transfer during their lifetime. If a person did not prepare a plan, then the statute steps in and furnishes a plan to distribute that person’s property Every person, therefore, has an estate plan. A third way to provide for the transfer of property at death is under the terms of a will con taining the owner’s wishes for the distribution of his or her property Preparing a will avoids application of the intestate succession law. In comparing distribution of property under a will to distribution under intestate suc cession, the basic difference lies in the answer to the question, "After my death, who decides what will happen to the property I own’” In a will, a property owner decides how property is to be distributed. Without a will, the state legislature makes that decision. You don’t have to own a large amount of property to need an estate plan. A plan can be fashioned for all types and amounts of property. For more information about estate planning, John Becker and Dr. Marilyn Furry, Extension family money management, will present a meeting for you. It will be given Tuesday, March 10 from 7:30 to 9:30 and Wednesday, March 11 from 1 to 3 p.m. It is free, but you must register, (call 565-9070), and it will be held at the Hunt Club Bldg, in Rose Tree Park, 1521 N. Providence Road, Media, Pa. r BUCKETS & FORKS 1 For Skid Steer Loaders Built To Order AVAILABLE FOR MOST MAKES AND MODELS ;■ " flu ■ p • FORKS • BUCKETS 40” to 72* ’ Standard Various Shapes And SpMSimtom ™rter CCOrdi ” g Bucket Cutting Edge Available, Beveled One Side, Any Length. sSizes: 3/8”x3”, %”x3”, M>”x4”, 3 /4”x4”, 5/8”x6” Rubber Edges Available For Scraper Blades WHOLESALE AND RETAIL ATI CORPORATION 325 West Main St. New Holland, PA 175a7 L (717) 354-8721 J Atlantic Breeders Honors Blue Ball District Dairymen pt pi ites to members'whose herds tested at least 10 percent above the state average for milk or fat production and who have more than two-thirds of the cows as progeny of Atlantic sires. Those who were recognized at the Blue Ball District Meeting include, from left; Susan and Delmar Weaver, New Holland; Rodney and Cindy Denlinger, Gordonville; Cheryl and John Zimmerman, East Earl; and Don Weaver, New Holland. Also recognized at the Blue Ball District Meeting of Atlantic Breeders Cooperative were, from left; Harry Zimmerman, East Earl; Marvin and Betty Sauder, Ephrata; Glenn and Esther Martin, East Earl; and Nathan and Leonard Stoltzfus, Gap. Those who received awards but are not pictured include, John Allen Wenger, Leola; Richard N. Sauder, Reinholds; Mahlon E. King, Gap; Leroy M. Stoltzfus, Gap; Edwin Wise, Ephrata; John 0. Stoltzfus, Honey Brook; and Donald Horning, Honey Brook.
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