I’ve enjoyed reading this book by Neil Harl on farm and estate planning. Harl does a nice job illustrating the difference in holding property at death in Tenancy in Common vs. Joint Tenancy (with rights of survivorship). Harl explains (page 22), “[a]t death of a tenant in common, that individual’s undivided interest passes to that individual’s heirs under state law …
Does Your Farm or Agri-Business Need a “Power Audit?”
I really love Neil Harl’s book titled “Farm Estate & Business Planning.” He briefly talks about the “power issue” when it comes to farm families and warns folks to consider this issue when formulating an estate plan. He illustrates this point with the following example: “An aggressive, able farmer died unexpectedly just days short of his 50th birthday. The business, …
Grow NYC Report on Greenmarket Farmers: “Farmers on the Edge”
Last month, I had an opportunity to visit with someone at Grow NYC (who runs Greenmarket), who shared this report with me (funded by the Doris Duke Charitable Foundation): “Farmers on the Edge: An Assessment of Greenmarket Farmers’ Needs, and the Growing Challenges of Keeping Their Farms Viable.” I finally had an opportunity to review the report in detail. It …
Build a Management “Team” For Your Family Farm or Agri-Business
One of the biggest hurdles in successfully passing down a family business (with any kind of family business) is training its successors. Same is true with family farming operations or agri-businesses, which require specialized knowledge and skill sets. Failure to do so adequately can mean the end to a family business with the manager deceases or is no longer able …
NBI Webinar: Estate Planning for Farmers and Ranchers
The National Business Institute (“NBI”) will be having a substantive webinar on October 3, 2012 from 11:00am to 6:00pm ET (that’s no typo – it’s a 7 hour webinar…). It’s a little pricey for a webinar but if you are interested in this topic (like me) then I think it’ll be worthwhile. Topics for the webinar include the following: (1) …
Determining Your Goals For the Estate Planning Process
For those of you who have decided to charge ahead with an “estate plan” for your family, it’s important to really think about your goals of the estate planning process. Your objectives will help guide the entire estate planning process and will be a guidepost to your estate planning attorney in helping formulate the correct game plan. As a caveat, …
My Path Becoming an Agriculture Lawyer in New York City
Last month, I spoke to a group of Texas 4-H kids at a Texas A & M University via Skype about my work as an agriculture lawyer in New York City. I was asked to share a bit about my path and how I become an agriculture lawyer in the Big Apple. Here was my response: I grew up on …
Estate Planning is More Than Just Getting a Last Will and Testament
Many people think that “estate planning” is really just hiring a lawyer or downloading a program off the internet (which I do not suggest) to draft a Last Will and Testament. However, it’s more complicated than that. A good estate planning attorney will have you complete a questionnaire giving him/her information on your family tree, assets and liabilities in order …
Estate Planning Isn’t Just For the Elderly
Let’s face it. Estate planning is easy to push off. What’s another week… another month… another year… another five years… After all, I’m healthy. My spouse is healthy. We don’t have kids. We don’t have a lot of assets. I don’t care if what-little-I-do-have follows the rules of intestacy (i.e., the “default rules” if you die without a Last Will …
Appointed as the Chair of the ABA GP Solo Agriculture Law Committee for 2012-2013
For the second year in a row, I have been appointed as the Chair of the American Bar Association’s (“ABA”) General Practice, Solo & Small Firm Division’s Agriculture Law Committee for the 2012-2013 year. It has been an exciting first year getting the Committee up and going again with two fantastic Continuing Legal Education (“CLE”) webinars on crop/livestock insurance and …
Debrief From Skype Conversation About Being An Agriculture Attorney
I hope that my readers had a wonderful Fourth of July vacation and were able to spend some time in the sun. I had a nice time running again and spending time on a few beaches on Long Island including Shelter Island and Robert Moses Beach. Some R & R is always a good thing. Last Friday, I enjoyed a …
For You Iowa Folks – Recommended Agriculture Law Book
I recently finished reading Pat Dillon‘s book titled “Field Manual: Iowa Farmer’s Guide to Legal Issues.” It’s a great book and covers all the basics ranging from contract law, crop insurance, estate planning, farm leases to bankruptcy. Dillion is a good writer breaking down complicated legal concepts. The Kindle version is only $5.00 from Amazon. I give the book …