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Legal Entities for Farm Businesses
This 2-part virtual mini series will cover LLCs and trusts, two legal entities common among agricultural businesses. The sessions are designed to help farmers and rural landowners evaluate whether these legal entities would be appropriate for their individual situations and goals.
Event Details
Date
November 5, 2020
Time
1pm-2pm
Location
Virtual meeting via Zoom
Cost
Register for both workshops : $10.00
per farm
Host
South Central New York Dairy & Field CropsIs an LLC Right for Me?
Have you ever wondered whether forming an LLC would be good for your farm? This workshop is for any agricultural business operating as a sole proprietorship or partnership, interested in learning about the costs and benefits of Limited Liability Corporations. Chris Anderson from Farm Credit East will review common farm business structures, then discuss how to evaluate whether an LLC is a good fit for your specific circumstances. We will also discuss the process of setting up an LLC, selecting and working with advisors, and making changes to an LLC over time.
Event Details
Date
November 19, 2020
Time
1pm-2pm
Location
Virtual meeting via Zoom
Host
South Central New York Dairy & Field CropsWhat is a Trust & Does My Farm Need One?
This session will help farmers and rural landowners understand what a trust is, and whether it is the right tool to protect and manage their assets. Anna Richards from 2020 Consulting will describe several types of trusts that are commonly used in farm succession planning, and discuss the process a farm goes through to set up and managing a trust.
Dairy
Livestock
Grazing
Forages
Grains
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