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Farm bureau plans gas leasing programs

October 30, 2012
From staff reports , The Herald-Star

HOPEDALE - Jefferson, Harrison, Carroll and Tuscarawas county businesses and community leaders, as well as interested residents, can learn more about financial planning and tax ramifications associated with oil and gas leasing and pipeline easement during programs presented by Dale Arnold, Ohio Farm Bureau Federation director for energy services.

The programs will be held at 7 p.m. on Nov. 12 at the Hopedale Fire Hall, 103 Firehouse Lane, and at 7 p.m. on Nov. 14 at the First Christian Church, 104 Third St., New Philadelphia.

The programs are sponsored by the four county Farm Bureaus under the jurisdiction of Michele Specht, organization director.

"Landowners are now seeking counsel to address financial issues, such as bonus payment provisions, land rentals, royalties and easement settlements issues. 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," Arnold said.

Additional resource speakers for the evening are Chad Endsley, OFBF director of law; and David Shallenberger, REA and Associates Inc. CPA.

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.

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