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Showing posts from December, 2018

MIdwest Professionals to Host Free Seminar to Assist Farmers

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Midwest Professionals to Host Free Seminar to Assist Farmers
           Please consider joining us for an upcoming seminar that will focus on current issues farmers are facing due to the downturn in the agricultural sector.  We are hopeful these topics will give farmers valuable information that can assist them during these difficult times. 
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Liability Insurance May Not Save Your Farm, but an LLC Can

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Using multiple LLC's can drastically increase the liability protection for a farm.  This article discusses the layout of doing so. 

First though:  I generally hate disclaimers, but I find it necessary to state a few.First, this article is for general information only and is written for the benefit of fellow farmers to consider in structuring their farms.Second, state laws vary, and this article is not state specific.Third, if you feel the need to comment on whether you disagree or that I’m wrong, please first go to:https://www.extension.purdue.edu/extmedia/ppp/ppp-91.pdf.It is an excellent publication from Purdue that is in line with what I am writing about in this article and gives some real life examples.
In the last article, I wrote about how liability insurance is a necessity, but with the trends in jury verdicts, it may not be enough to save the farm.In other words, you could get a judgment against your farm for more than the policy limits of the insurance.  Structuring the f…