The Three Parts of the Farm Estate Planning Discussion

Cari Rincker Food & Ag Law Leave a Comment

Hear me discuss farm estate planning, business planning and succession planning in this short video.  I discuss all three in my services to farm and ranch clients when doing farm estate planning.

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Fears When Talking about Money

Rincker Law Estate Planning Leave a Comment

Studies[1] have shown that the largest contributing factors to generational loss of wealth are a lack of communication and trust among family members and the failure to prepare heirs.[2] Often, fear is what underlies the lack of communication and trust that inevitably leads to unprepared heirs. Following are some of the fears that prevent people from communicating with their loved …

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What Happens to a Limited Liability Company After a Member Dies?

Rincker Law Business/Commercial Law Leave a Comment

Death is almost always a complicated event for the survivors, who have not only emotional but also logistical considerations to manage. However, when an owner (typically called a member) of a limited liability company (LLC) dies, it exacerbates the difficulties for the surviving members. In addition to bearing the loss, they must determine whether the LLC can or even should …

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6 Considerations for Passing Down a Family Business

Rincker Law Business/Commercial Law Leave a Comment

You have spent years building your small business, but have you taken time to consider what will happen to it when you retire, become disabled, or pass away? Although it is often hard to fathom an event that may not occur for many years, it is important to put plans in place in advance. The failure to do so could …

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NALC Fact Sheet: Farm Succession and Estate Planning Concerns in a Divorce

Rincker Law Family/Matrimonial Law, Food & Ag Law Leave a Comment

Oftentimes folks who are getting a divorce, do not think about estate planning concerns but this is an especially important issue for multi-generational farm and ranch families,  Read my fact sheet with the National Agriculture Law Center on this very topic here.  All of the family law issues in agriculture Fact Sheets can be found here.

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Episode 11 of Ag Law Today: Farm Succession Planning

Rincker Law Food & Ag Law Leave a Comment

Hear me speak with the one and only Prof. Shannon Ferrell on one of my favorite topics… passing the farm to the next generation.  It’s on YouTube here.  You can also subscribe on iTunes.

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Illinois Agriculture Law: Farm Estate and Succession Planning

Rincker Law Estate Planning, Food & Ag Law Leave a Comment

This presentation will be given to the Illinois Beef Association this Thursday in Galina, Illinois, at its annual meeting. It discusses the differences between estate planning, succession planning and business planning. Then it delves into the Who, What, When, Where, How and How Much. It too discusses how to have those difficult conversations and using mediation in this process. [slideshare …

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Beef Roundtable Appearance on Farm Estate and Succession Planning

Rincker Law Food & Ag Law Leave a Comment

Hey, I’m a YouTuber!  I was a guest this fall on the Purdue University Beef Roundtable on farm estate and succession planning along with Dr. Paige Pratt.  You can check out the video here.

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Top 5 Legal Issues for Illinois Farmers in 2017

Rincker Law Food & Ag Law Leave a Comment

I am speaking this morning to the Macon Co. Farm Bureau in Decatur, Illinois.  Here my Top 5 Legal Issues for 2017 (can you guess what they are?): [slideshare id=73385005&doc=maconco-170320224504]

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Using Wills and Revocable Living Trusts for your Farm’s Estate Plan

Rincker Law Estate Planning, Food & Ag Law Leave a Comment

Last week’s blog post focused on succession planning– this post will focus on farm estate planning by using wills and trusts (both equally important and can be easily confused).  Let’s first look at the advantages and disadvantages of a will.  A big advantage of a will is that it can be changed or revoked until the testator loses capacity to make, change, …

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Succession Planning for Your Farming Business

Rincker Law Estate Planning, Food & Ag Law Leave a Comment

Proud of my little cousin Austin Rincker- He made the cover of the Illinois  Field and Bean last month (the flagship publication of the Illinois Soybean Association).  He is noted in the article starting on page 6 titled “Successful Succession- Begin With the End in Mind.” If you follow this blog then you know how important succession planning for farms, …

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