Nope. It will dry slower when it is cold, but won't be harmed. When it is dry, you will want to store the good stuff in a climate controlled room.
As far as falling the trees, I strongly recommend getting someone who really knows what they are doing, or at least taking classes before attempting it yourself. Contact your local forestry bureau either way, they can help you.
BTW, the ash that you have is much different from the swamp ash that Fenders are made of. Heavier, different appearance, and brighter sounding, but still very nice wood.
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Hmmm, what kind of ash do I have ...
I found a few cool tid bit son how to dry this stuff (thanks to the links you guys added)
and it seems like if I have the stuff I may as well try to do this....
cherry takes much longer to dry I believe but it is REALLLY nice looking wood.. so perhaps that's worth it too?