What if I add my child (who also works on the farm) to the deed for the land and the title to the equipment? Will that automatically transfer the land and equipment to my child when I die, avoiding probate? While some types of joint ownership cause the surviving owner to receive 100 percent of the ownership upon the passing …
As agriculture evolves in Illinois, more farmers are expanding by buying land, diversifying crops, investing in agri-tourism, or scaling up operations. But growth can come with costly legal missteps. In this blog, Top 5 Legal Mistakes Illinois Farmers Make When Expanding Their Operation, we’ll outline the most common legal pitfalls and how to avoid them so your farm can grow …
Running a farm isn’t just a business; it’s a way of life and a legacy. But what happens to your farm when you’re no longer around to manage it? Without proper planning, your hard work could be at risk, leaving your family and business in a difficult situation. Estate and succession planning in Illinois are critical tools to protect your …
The Federal Trade Commission (FTC) implemented a new final rule prohibiting employers from enforcing non-compete agreements against employees. A non-compete agreement essentially bans a worker from moving to another employer within the same industry for a set period of time, citing the employer’s privacy and competition concerns. Non-compete agreements have traditionally restricted employee mobility by preventing workers from joining competing …
At Rincker Law, PLLC, we are thrilled to share that our principal attorney, Cari Rincker, has been appointed to the Illinois State Bar Association (ISBA) Agriculture Law Section Council. This appointment is a significant milestone, recognizing Cari’s long-standing commitment and expertise in agriculture law—a passion that runs deep throughout her career and life. Cari’s dedication to agriculture is rooted in …
The risk of suffering a data breach has never been higher. Small businesses are three times more likely than larger businesses to be targeted by cybercriminals.[1] The costs of a cyberattack, both in terms of financial and reputational damage, can be devastating to small businesses. Although many business owners are aware of the risks of a cyberattack, they have not …
You have spent years building your business, but at some point, the time will come for you to sell the company and exit. While many business owners choose to keep the company in the family, that is not always realistic. Family members may not have the interest or skills needed to run the business. In such cases, selling the company …
Solar energy projects offer farmers and ranchers a unique opportunity to diversify their income streams. However, before diving into a solar lease agreement, it’s crucial to understand the intricacies involved. In this first part of our guide, we will explore key aspects of solar lease agreements that every farmer and rancher should consider. Understanding the Structure of the Agreement Solar …
What is a land trust? The use of the phrase “land trust” can often lead to confusion, as it relates to a few completely distinct concepts. On the one hand, a land trust may refer to an estate planning tool wherein title to the land is held by a trustee at the owner’s request. On the other hand, a land …
For years you and your tenant farmer have been working under an oral agreement regarding the farming of your real property. Now, for whatever reason, you need to terminate that agreement. How do you do this? Under Illinois law, farmland leases are subject to very specific rule. Whether leased on a crop share, livestock share, cash rent, or hybrid basis, …
What is a Farm Equipment Lease Agreement? A farm equipment lease is a long-term rental agreement between the owner of farm equipment (the lessor) and an individual or company that wishes to use the farm equipment (the lessee) in exchange for cash rent. Farm equipment leases are far from simple agreements. A properly drafted agreement will navigate the following five …