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Getting Down to Business… Organizations

Most farmers would probably prefer the government stay out of their business. Most farmers are also the type of people who will do a handshake deal and just get to work rather than filling out paperwork. Trust and a handshake is a great way to do business and I honestly wish it were realistic to conduct business like this all of the time; but this approach is very dangerous in today's world. Specifically, it’s dangerous to conduct business in this way when you don’t know the other parties involved. If you think you don’t ever conduct business without knowing the other party, think again. When you start a business you open yourself up to business with the world because the world is w [...]

Your Farm and Government Payment Limitations

Last week I discussed the basics of Business Organizations and liability protection. This week’s discussion will be focused more specifically on how this relates to the farm business. The biggest concern in relation to farmers and Business Organizations is the factor of government payment limitations. When it often feels like the government takes so much from us, nobody wants to limit how much money they can get from the government when they finally get in the mood to give some back.

Government payments are in 3 major areas: Commodity programs, Conservation programs, and Disaster Assistance Programs. How the government determines limitations, which will be discussed here, appl [...]

THE Law of Agriculture

The United States Constitution contains 7 Articles and 27 Amendments. From this, the judiciary has interpreted and defined every word; applying the principles contained within to nearly every circumstance imaginable. Thus the judiciary, with its 234 years of rulings and the principle of “stare decisis” (courts must follow precedent) has created much of the law we have today. Of course there is also the legislature who has enacted north of 30,000 statutes since its creation in 1789. So far we have only discussed the Federal government. There are an additional 50 constitutions, 50 state versions of a Supreme Court, and 50 legislatures. The number of laws within our great nation is essen [...]

Preparing for the Worst (and Best)

Prepare yourself for a shock to the system because this one is a doozy; the best way to avoid bankruptcy is to become more profitable and pay off debts. Shocking, I know. You are likely thinking, “Thank you Captain Obvious,” to which I’d say, “You’re very welcome.” All joking aside, the statement “be more profitable and pay off debts” is basically useless by itself as it provides no practical implications. But I implore you to keep that mantra in the back of your mind during this article because “be more profitable and pay off debts” needs to be the guiding principle behind every decision moving forward if you need to avoid or prepare for a bankruptcy. My previous two [...]

What Does a Succession Plan Include?

You have worked hard to build and run your business, and now it is time to pass it on to your successors. If you want your business to continue to prosper and grow once you no longer are taking an active part, it involves some careful planning. Depending on the size, structure, and complexity of your business, the process of passing it on can take anywhere from weeks to years to be completed, and there are laws that must be complied with to prevent problems and potential lawsuits from arising. Having a well-prepared business succession plan is essential to ensure a smooth transition of ownership and leadership.

In Missouri, business succession planning is not just for large corp [...]

What Exactly Is A “Business Dispute?”

A business dispute is any conflict, disagreement or legal issues between two or more parties involving commercial or professional matters. These conflicts can occur between business partners, companies and their customers, vendors, contractors, or even within corporate leadership. These disputes commonly arise from contractual disagreements, issues of compliance with laws and regulations, or perceived unfair business practices. While some disputes are minor and resolved quickly, others can escalate into costly legal battles that threaten the stability of a business.

Business disputes can be stressful and time consuming for any business owner and a major distraction from your cor [...]

Avoiding Probate in Missouri

Probate is a court-supervised legal process that includes validating a will, appointing an executor or administrator of the estate, distributing a deceased individual’s property, and allowing creditors to state their claim to assets.  Going through probate can be stressful, time-consuming, and expensive, but there are many techniques you can use to allow ownership of your property to pass directly to your desired beneficiaries while avoiding probate.

Missouri law states that probate is necessary for estates valued at more than $40,000, and there is a simplified form of probate for estates less than this amount. However, only those assets that are held individually have to go [...]

Steps to Start a Business

If you’re thinking about starting a business in Missouri, then you’ve chosen the right place. Missouri has shown remarkable economic performance in recent years, leading the nation in employment and job growth in 2024. Industries that have shown the most growth include healthcare, leisure and hospitality, and construction, according to Missouri Partnership, a public-private economic development organization. In addition, Missouri has a central location in the U.S. and a comprehensive transportation network, and it tries to create a business-friendly environment by:

  • Reducing regulatory burdens
  • Streamlining business processes
  • Supporting innovation [...]

Three Estate Planning Mistakes Farmers and Ranchers Make and How to Avoid Them

No one likes to contemplate their death, so many farmers and ranchers make the mistake of failing to even make an estate plan. But farming or ranching is more than a means of livelihood – it is about preserving a legacy and unique way of life. Unfortunately, without an estate plan, the farm or ranch that has been passed down for generations ends up being sold and converted into non-agricultural use, cutting the legacy short and ending the family’s unique lifestyle choice.

Farmers and ranchers are not the only ones who avoid making or updating an estate plan – many others, including business owners and parents, also avoid planning, which can cut their legacy short. It is fa [...]

Chapter 12 Bankruptcy in Missouri: Protecting Your Farm

When things go bad economically, family farmers can find that their home and their livelihood are both at risk due to factors they can’t control. Climate change, extreme weather, fires, crop failures, and market and seasonal fluctuations can all negatively impact their income and leave them with debts they are unable to pay.

Taking into account the unique challenges and problems of family farmers, the United States Bankruptcy Code has created a special type of bankruptcy – Chapter 12 – that helps farmers ride out financial difficulties and provides a way to get out of debt. Chapter 12 bankruptcy offers a special path that allows financially distressed Missouri family farme [...]

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