We pride ourselves on having a thorough understanding of agriculture. John Schwarz is a third generation attorney and has a firm understanding of agriculture. Often times, the issues clients are going through are the same issues that John has seen on his farm.
John's understanding of farming puts him light years ahead of other attorneys. Simply stated, clients do not have to spend time educating John on the ins and outs of their farming practice.
John has helped clients at the state court level, court of appeals, supreme court, and federal court. He is well versed in farm matters and takes a tremendous amount of pride in helping farmers.
Don't put your trust in someone who does not understand your way of life. John will be there to assist you, and if need be will work with other attorneys across the country to make sure you are adequately represented. Put your trust in a fellow farmer.
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It has begun. Nervous clients, including farmers and others, have started calling with growing concern about what can only be described as nightmarish changes to federal tax laws. Changes being discussed are a extreme reduction of the current federal estate/gift tax exemption, elimination of step up in basis, elimination of Section 1031 like-kind-exchanges, as well as other drastic changes being proposed by the new administration. Before delving into the subject matter in more detail, people should remember the immortal words of Yogi Berra when he said, “it’s like déjà vu all over again”, and look back on December 31, 2012. When the clock was to strike midnight, we were not going to see Cinderella’s carriage turn back into a pumpkin, but the federal gift and estate tax exemption was to plummet from $5.12 million per person all the way to $1 million per person. Prior to that, taxpayers had enjoyed the ability to pass up to $5.12 mill
This past week Congress was actually able to agree on something and the Family Farmer Relief Act of 2019 was passed. The Act serves to raise the current debt limit for Chapter 12 from 4.2 million to 10 million. Some have bemoaned this as only helping “big farms’, whatever that is, but in an era where a combine can approach a half million dollars, many smaller or medium sized farms found themselves up against the previous debt limit. Without the ability to utilize Chapter 12, instead of restructuring, the famer is generally liquidating. In helping many farm clients over the past year who have been experiencing financial difficulties, I am simply amazed at the inability of some lending institutions to work with the farmer who is experiencing financial difficulties. Don’t get me wrong, some lenders have been very good to work with and are open to forbearance agreements, debt reconstruction, and other measures that keep the fa