Many people who put together an estate plan do so when they start a family – assuming they put an estate plan together at all during their lifetime. While putting an estate plan together is a good thing to do, many people make few updates once the plan has been created, despite other key life events happening over the years. …
When a loved one passes away, navigating the probate process can be daunting and exhausting. Once the estate has been distributed and probate is closed, it would be nice to rest easy knowing that “what’s done is done;” however, it is important to understand that there are a few circumstances where a closed estate can be reopened again in Illinois. …
I was excited to record this episode with Beth Rumley while I was in New York City a few weeks ago getting an update on where we are with animal confinement laws on this episode of Ag Law Today. It was an update from Episode 46 found here. I am an adjunct at Vermont Law School online and several of …
What is a Grazing Lease? A grazing lease is an agreement between a landowner (the “lessor”) and a livestock owner (the “lessee”) where the landowner agrees to let the livestock owner graze livestock on his or her land in exchange for cash rent. Given the number of potential factors at play, a grazing lease agreement can quickly turn into a …
There are a number of legal issues facing farmers on a daily basis. An attorney experienced in all areas of farm law can help guide farmers away from the potential pitfalls running a farm entails. Some of the ways a farm lawyer can help you set up your farm for success include: Estate and Succession Planning Setting up business structures …
When a bottle of wine is decanted, it’s poured from one container into another. When a trust is decanted, trust assets are poured from an old trust into a new trust with more favorable terms. Why Should a Trust Be Decanted? Trusts are decanted to escape from a bad trust and provide beneficiaries with more favorable trust provisions and benefits. …
I am so appreciative of the opportunity to speak to quality professionals like Zach Anderson and Josh Rohrschieb with BRE Law. Hear us discuss personal injury considerations for farmers and ranchers on this episode of Ag Law Today. Please don’t forget to subscribe on YouTube so you don’t miss a beat. You can also follow Rincker Law on YouTube here. …
Trusts and limited liability companies (LLCs) are both legal vehicles that can be used to manage and protect assets, minimize taxation, and avoid probate. Whether a trust or an LLC is a better choice may depend on the type of asset, but you do not necessarily have to choose between the two. In fact, an LLC can be placed in …
We know it’s hard. Thinking about someone else raising your children can stop you in your tracks. It feels crushing and too horrific to consider. But you must. If you don’t, a stranger will determine who raises your children if something happens to you – your children’s guardian could be a relative you despise or even a stranger you’ve never …
Comprehensive estate planning is more than your legacy after death, avoiding probate, and saving on taxes. Good estate planning includes a plan in place to manage your affairs if you become incapacitated during your life and can no longer make decisions for yourself. What happens without an incapacity plan? Without a comprehensive incapacity plan in place, your family will have …
There are two major considerations when selling beef in Illinois direct to the consumer. The first thing farmers should consider is how they want to sell their beef. Do you want to sell a percentage of the live animal, a percentage of processed beef, or an individual cut of beef? Depending on how you wish to sell your beef will …