Here are some terms to think about in your bull lease between the bull owner (the lessor) and cattlemen who will be leasing the bull (the lessee): Term: The term of the breeding season should be listed (e.g., March 1 to June 30, July 1 to September 1). Number of Bulls: Note the number of bulls leased from the lessor …
Ask Cari: Is Rental Income from a Farm Lease Self-Employment Taxable for Social Security Purposes?
I was recently posed this question from a farmer close to retirement concerned about social security. He has been farming his whole life and would like to shift into a landlord role. In way of background, you must have a certain number of credits under the social security system before receiving social security based eligible quarters. A farmer may have …
Save the Date: Farm Employment/Labor Law Webinar on Feb. 20th
I will be moderating a webinar titled “Overview of Employment and Labor Law for Farms and Ranches” on Wednesday, February 20, 2013 from 2:00- 4:00 ET for the American Bar Association’s General Practice, Solo & Small Firm Division’s Agriculture Law Committee. Other faculty include Rachel Armstrong (Farm Commons), Kimbery Clarke (Varum LLP), Edward Cox (Drake University Agriculture Law Center), Karen Eichman …
Confidentiality Agreements for Your Farm or Agri-Business
I recently wrote an article on confidentiality agreements for the agriculture community. It can be found on my JD Supra page here. I understand that Non-Disclosure Agreements (“NDA’s”) lack the “excitement factor” but a misappropriate of confidential information can have deleterious effects on a farm or agri-business. I encourage my readers to gain a cursory understanding in confidentiality agreements and …
My Presentation at AALA Regarding My Technology Choices in My Law Practice
I spoke at the American Agriculture Law Association‘s (“AALA”) Annual Agriculture Law Symposium in Nashville, Tennessee on my own technology choices in my law practice You can view my presentation below. [slideshare id=14673383&doc=mytechnologychoicesinmyaglawpractice-121010142927-phpapp01] In case you missed it, this article in the American Bar Association (“ABA”) GP Solo magazine gives a brief overview of my technology choices.
Difference Between Owning Property at Death as Tenancy in Common or Joint Tenancy with Rights of Survivorship
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 …
A Quick Review on Land Use Law
I have enjoyed reading through the Harvard Law School’s Food Law & Policy Clinic’s publication titled “Good Laws, Good Food: Putting Local Food Policy to Work for Our Communities.” Section III (beginning on page 30) does a nice job giving a cursory overview of land use law. As the article correctly states, the authority to regulate land use is derived …
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, …
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, …
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 …