In this episode of Ag Law Today, hear me interview Brian Schaumburg on farm succession planning on this episode of Ag Law Today. Don’t forget to subscribe to Ag Law Today on YouTube so you don’t miss a beat. You can watch this episode or other episodes of Ag Law Today (via Purdue University Extension). More info on Ag …
Wills, Trusts & Dying Intestate: How They Differ
Most people understand that having some sort of an estate plan is a good thing. However, many of us do not take the first steps to get that estate plan in place because we do not understand the nuances between a will and trust – and dying without either. Here is what will generally happen if you die, intestate (without …
How to Prepare for Divorce Mediation in Champaign County
Getting prepared for divorce mediation in Champaign County is always beneficial. When you are ready for the meeting, things will move smoother, and more issues will be solved. There are several things that you can do to make the mediation process simple and be prepared for your meeting with your divorce mediation lawyer. Write Down Questions If you have issues …
How to Protect Your Business from Lawsuits
Small business owners are no strangers to risk management. Owning and operating a small business entails a certain level of unpredictability. Despite your best efforts to stay on top of supply chains, marketing, sales, competitors, employees, and cash flow, unexpected issues can knock you for a loop. You have survived plenty of bumps in the road and emerged stronger than …
Three Estate Planning Mistakes Farmers and Ranchers Make and How to Avoid Them
Farming or ranching is more than a means of livelihood – it is about preserving a legacy and unique way of life. Unfortunately, many farmers and ranchers fail to make an estate plan. The farm or ranch that has been passed down for generations then ends up being sold and converted into non-agricultural use, cutting the legacy short and ending …
Common Pitfalls in Family-Owned Businesses
Your family and your business are two of your top priorities. You would not do anything to compromise either of them. But working with family members in a family-owned business presents unique challenges that can cause lasting damage to both if not properly managed. Family-owned businesses are capable of the same success as any other business. Walmart, Chick-fil-A, Comcast, Carnival, …
Ask Ruth: Egg Sales in Illinois
Generally speaking, there are two ways an egg producer can sell their flock’s eggs in Illinois. Under Illinois law, producers can sell eggs produced by their own flock directly to household consumers for their personal use without a license or inspection if the eggs are sold directly from the premises where the eggs are produced. If, however you wish to …
Who’s On Your Team?
Estate planning is not just about what happens to your stuff when you die. It is about coordinating all aspects of your life so (i) you can be taken care of during times when you are unable to care for yourself, and (ii) your money and property are distributed to the individuals you have selected upon your death, in the …