I had a great time at the American Agriculture Law Association (“AALA”) Annual Meeting two weeks ago in Albuquerque,New Mexico. I moderated a roundtable aimed at helping food and agriculture attorneys in solo and small firm settings run a successful (and profitable) law practice. I also really enjoyed several of the sessions throughout the conference, especially the session on food …
New and Improved Kindle Version Available for NY Food and Agriculture Law Book
A new and improved, more user-friendly Kindle version of the “Field Manual: Legal Guide for New York Farmers and Food Entrepreneurs” is available on Amazon.com here for $9.99. If you purchase the hard-copy of the book, the Kindle version is only an additional $2.99 – a cheap way to make sure that the “Field Manual” is always with you… and your Kindle/iPad/Tablet.
Why Your Farm Estate Plan Should be Revisited Every Few Years
It is prudent to revisit your estate plan every 3-5 years or when there is a major life event (e.g., marriage, divorce, purchase/sale of major assets, bankruptcy, children). Estate planning leads to business planning, which leads to tax planning, which leads to business succession, which should lead to disaster planning, which may lead to federal farm program planning, which should …
My Presentation on “Getting Paid” at the American Agriculture Law Association Annual Meeting
Had a great time at the American Agriculture Law Association (“AALA”) Annual Meeting this past week. I moderated a roundtable discussion on “Getting Paid: Billing and Collection Strategies for the Food and Agriculture Lawyer.” My presentation has none of the answers – only the questions! However, I did provide a substantive outline for the attendees that is located here. The …
Breaking Down the Basics – Some Farm Estate Planning Definitions
Knowing these basic estate-planning definitions may be helpful in any conversation you may have with an estate planning professional: A Last Will and Testament (usually just called a “will” for short), is a document that gives your directions on what to do with your property when you die. It takes effect only after you have actually died, and it must …
With Farm Estate Planning, Start With Your Goals
Your objectives will drive the entire estate-planning process, so it is important to clearly articulate your goals. These goals should serve as a guidepost to your estate-planning attorney in helping to formulate the correct game plan. It might not be possible to fully meet all of your goals; therefore, when you meet with your estate-planning lawyer, make sure to emphasize …
Partnership Agreements for Farmers, Agri-businesses and Food Entrepreneurs
Farmers, agri-businesses and food entrepreneurs are highly encouraged to put the terms of an agreement in writing. Simple partnership agreements are also recommended for agreements to share ownership in one livestock animal, such as a bull, ram, boar, or show animal. Partnership agreements serve several purposes. First, absent a partnership agreement, the New York “default rules” will apply. Second, when …
Hobby Farm Rules
Those who are just beginning a farm operation or food business, those who work off-farm or those who are slowly withdrawing from farming would do well to familiarize themselves with the Internal Revenue Code § 183, “Activities Not Engaged in for Profit,” occasionally referred to as “The Horse Shelter” or “Hobby Loss Rules.” IRC § 183 is designed to prevent …
Choice of Business Entities Blog Series: The Cooperative
I am oftentimes asked about the best choice of business entity for a farm/ranch, agri-business or food entrepreneur. There is no one-size fits all answer to that question as each type of business entity offers different strengths and weaknesses. It is important to pick the right business entity for your specific type of enterprise – the answer to that question …
Choice of Business Entities Blog Series: The Limited Liability Company
I am oftentimes asked about the best choice of business entity for a farm/ranch, agri-business or food entrepreneur. There is no one-size fits all answer to that question as each type of business entity offers different strengths and weaknesses. It is important to pick the right business entity for your specific type of enterprise – the answer to that question may …
Overview of Farm Leases
I’m speaking tonight at the American Farmland Trust Legal Workshop on farm leases in Westchester County. I posted an updated outline on farm leases here on my JD Supra page. Whether you are a landlord or a tenant, I highly suggest working with a licensed attorney in your state to memorialize the terms of a written farm lease.
Keynote Speaker at the Cornell Southern Tier Agricultural Risk Management Conference
I’m super excited to be presenting at the Cornell Cooperative Extension this November, where I will be the keynote speaker. In my presentation, “The Broken Windows Theory and Your Farm: How the ‘Little Things’ with Risk Management Can Make the Big Difference,” I will talk about the “Broken Windows Theory” and explain how to apply this concept to farms in …