Farming is not just a business; it’s a way of life. Our attorneys understand and appreciate this sentiment because they were raised on farms themselves. We can assist your farm family with a wide variety of legal issues that may arise. Our ability to speak your language helps us efficiently and effectively serve your needs.
We routinely assist with issues such as:
- Transitioning the family farm:
- Estate planning to provide for the succession in the event that the current owners die (the “disaster” plan). This may include wills, trusts, powers of attorney, marital property agreements and other issues.
- Business succession planning to provide for the transition of the farm over time (the “succession” plan).
- Protecting the family farm.
- Buying farms and farm land.
- Selling the farm, equipment or livestock.
- Establishing business entities, such as limited liability companies (LLCs) and corporations.
- Working with your accountant or tax preparer to maximize tax benefits and plan for future sales or succession.
- Gifting or transferring farm assets to family members or the next generation.
Stay updated on farm legal issues by listening to Bridget’s monthly appearances with Bob Bosold on WAXX 104.5 radio.
- October 2016 program – upcoming seminars and getting started with succession planning.
- November 2016 program – how will Trump’s election impact tax and succession issues.
- December 2016 program – end of year planning for blended and non-traditional families
- January 2017 program – farm business plans and estate taxes
- February 2017 program – plan for the future with powers of attorney for finances and health
- March 2017 program – know your farm’s value – update your asset list
- April 2017 program – benefits and pitfalls of gifting and valuing non-cash gifts
- May 2017 program – protect and build farm assets – tax reform
- June 2017 program – succession planning – handling expansions and changes to farm assets
- July 2017 program – trusts
- August 2017 program – health care insurance and powers of attorney for finances and health care
- September 2017 program – leases, options, and right of first refusal
- October 2017 program – end of year planning for annual gifting
- November 2017 program – consequences if the new tax law passes
- December 2017 program – don’t put off creating an estate plan because of unknown tax law changes
- January 2018 program – steps to create a succession plan
- Stay tuned for more programs.