For many people, the idea of long-term financial planning may seem like that dentist visit or home repair project you keep putting off — you know you’ll have to do it eventually, but actually sitting down and organizing your budget, portfolio, estate, and retirement plans, all while juggling a career,…
Lately, I’m seeing a number of new clients who have done their estate planning with some other law firm, and, as a part of their planning, a revocable grantor living trust has been utilized for the client. I’ll always ask the client (and of course I already know the answer!),…
Glad tidings and happy new year! Yes, we’re into February, but it’s still the new year, yes? I don’t believe “you have just 330 +/- shopping days until Christmas” would be preferred, though I’ve been wrong before. Let’s chat about premium subsidies for multiperil crop insurance and the basic premise…
A shift is underway among operators and owners of farmland across the country that is directly impacting farm lease agreements. External financial factors (cost of machinery, capital, inputs, and labor) once thought to be “transitory” are settling more into reality as many cast their projections for the coming crop year….
If you are reading this, you probably know as well as I do that the trend in commodity prices has not been favorable to farmers over the last year or two. Margins for producers have become razor thin, and annual budgets do not paint as pretty of a picture as…
Our discussion topic is a review of a subject matter from January of 2018 — do landlords need crop insurance? I’ve made this comment previously and will again here: everyone has a different appetite for risk, varying circumstances cause each situation to be different. What risk(s) are present and, most…
The author and his son, Corey, utilize hundreds of Limited Liability Companies, or LLCs, in their respective practices to help solve clients’ various needs. I break down such uses between: An LLC is often used as the business entity of choice vs. a corporation for its simplicity of forming. The…
A major trend in American agriculture will be the acceleration of estate and transition planning. The transfer of wealth will also be a high priority item for the general population as $68 trillion of assets and equity will transfer between 2025 to 2040. With many elderly in the demographics, the…
This year marks the 39th year since the inception of the Conservation Reserve Program (CRP), a proactive program administered through the unique partnership of the U.S. Department of Agriculture (USDA), the Natural Resources Conservation Service (NRCS), and landowners across the country. Some may have initially thought CRP and similar land-based…
According to the most recent census from the U.S. Department of Agriculture, one-third of America’s 3.4 million farmers are over the age of 65. This statistic might not come as a surprise when you consider the demographics of your local farming neighborhood or perhaps even the age on your own…
