How to Talk to Your Family About Business Succession

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Benjamin Franklin famously quipped, “If you fail to plan, you are planning to fail.” From the very beginning, you had a plan for your business to succeed. You set goals and developed methods to achieve those goals. Your business has stood the test of time because you anticipated problems and solved them. But if your plan for success does not …

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When Should I Think about Selling my Business?

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Part of the reward of being a small business owner is seeing your hard work pay off over the years. The many sacrifices you made for your business can all seem worth it on the day you close a deal to sell your company. But if you are dreaming of that day, it will take some work to get you …

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7 Issues to Address in Your Grazing Lease Agreement

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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 …

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Why Your Family Farm Needs a Lawyer

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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 …

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Episode 55 of Ag Law Today: Personal Injury Considerations for Farmers and Ranchers

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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. 

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How to Create an Effective Hunting Lease – Part Two

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Have a look back at Part One of this Hunting Lease series for tips and tricks on the basics of hunting lease agreements.  What Happens if There is a Dispute Over a Hunting Lease?  While one goal of hunting lease agreements it to preempt any disputes or disagreements between the lessor and the lessee, another goal is to roadmap what …

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How to Create an Effective Hunting Lease – Part One

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What is a Hunting Lease? And Do I Need A Written Hunting Lease Agreement?  In its simplest form, a hunting lease is an agreement between a landowner (the “lessor”) and a hunter (the “lessee”) whereby the landowner agrees to let the hunter use his or her land for hunting purposes in exchange for cash rent.  While it may feel like …

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Key Person Insurance: What Is It and Do I Need It?

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We protect what we value most with insurance. Car insurance and home insurance ensure that we can financially survive a major property loss. Life insurance pays money to beneficiaries after a death, acting as a financial lifeline to the deceased’s loved ones. Business insurance is a hedge against uncertain losses and unpredictable risks that companies face. Key person insurance, also …

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Business Ownership Considerations for Non–United States Residents

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Moving to a new country and starting a life there presents myriad challenges. Founding a business in the United States as a nonresident can be even more challenging. It requires navigating a convoluted immigration system, which specifically lacks a startup founders visa. That is on top of the extensive paperwork and filings required of all US business owners, both foreign …

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Why You Should Consider Putting Your LLC into a Trust

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The limited liability company (LLC) is a popular business structure that offers liability protection and avoidance of double taxation. Trusts are popular asset transfer vehicles that allow you to avoid probate and keep assets out of the hands of creditors. By placing LLC membership interests in a trust, business owners can combine the two types of legal entities and enjoy …

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What You Need to Know about Illinois Postnuptial Agreements

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Is it too late for a prenup if I’m already married?  In Illinois, prenups become effective on the day that you and your betrothed are legally married.  If you’re past that point, a prenuptial agreement is no longer a valid option.  That does not mean it is too late for you and your spouse to protect yourselves and your respective …

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Business Ownership and Divorce: What You Need to Know

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Divorce is rarely simple. When two people’s lives are intertwined—physically, emotionally, and legally—separating the individual strands can be a task akin to untying the Gordian knot. The longer a couple has been together and the more they share, the more difficult this task becomes. It can be even more difficult if the divorcing couple co-owns a business or one spouse …

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