EC72-855 Property Statement and Family Objectives for Estate Planning

Family estate planning is a phrase used to describe the acquisition, enjoyment, and disposition of the family's possessions. The estate plan organizes the resources of the family of an effort to provide for the present and future needs of the family and other heirs. A plan which is started early usually has a better chance of accomplishing the desired objectives.

EC71-854 Income Statement (Revised)

This extension circular is an income statement form that covers the following areas: Cash Farm Income (grain/hay sales, livestock sales, livestock product sales, government payments, custom work); Cash Farm Expenses (cash operating, breeding livestock purchases, gross cash farm expenses); Adjustment (inventory, machinery/equipment depreciation, fixed farm improvements depreciation, capital gain or loss on machinery/equipment, gross sales of machinery/equipment, real estate sold); and Non-Farm Income (operators's wage, wife's wage, interest/dividend income, gifts/inheritances, gain or loss on security, non-farm inventory change, net income on other farms owned and non-farm real estate).