Considerations When Faced With Eminent Domain
Vorys attorneys Tom Fusonie, Suzanne Galyardt, and Jeff Miller co-authored an article for Ohio Farmer titled “Considerations When Faced With Eminent Domain.” The article focused on how an eminent domain settlement/compensation could impact a farmer’s estate planning or succession planning. According to the article, such tax or planning impacts can include:
- Increasing the farmer’s assets that will be subject to creditors, disposed of at death and included in the farmer’s gross estate for estate tax purposes
- Providing liquidity to purchase assets during lifetime or at death
- Possibly creating a probate asset
Read the entire article on the Ohio Farmer website.