Legal
Power of attorney – when and why
Most people are familiar with the concept of a will and/or a trust. What most people fail to understand is that those documents only come into play when you are dead. What many people fail to have is a durable power of attorney. Many people saw “Rocky 5” (to be…
Simple steps can help stop cyber, wire fraud
This is my last Bottom Line column of the year, and I have enjoyed writing them. I hope you have not been too bored reading them! This final article is an unusual topic but one that is often overlooked by most farmers. When most farmers think about liability and insurance,…
Ag overtime rules: Is there a workable solution?
For many farmers in Washington state, paying their employees overtime pay has not been required in the past. No matter how long the day, employees earned their hourly pay rate. It was simple, convenient and predictable for the farmer and the employee. However, a November 2020 Washington Supreme Court case…
Estate planning for farm ground
In the February issue of Wheat Life, I discussed what kind of entity farm ground should be held in. I have had several people follow up, asking how to transition their farm ground without setting up an entity like an LLC. While I believe an LLC has several advantages, it…
What’s the right ownership entity for farm land?
One of the most popular questions my firm gets is “how should I own my farm ground?” Many people inherit farm ground from their family and start to wonder if it would be better to put it in a corporation, an LLC or some sort of a trust. The answer,…
Five items to review in estate planning documents
Absent a significant change in life circumstances (e.g., the death, disability or desired disinheritance of a current heir), I advise clients to review their estate planning documents every three to five years. The purpose of the review is not to determine whether changes in state or federal law necessitate revisions…
