Legal Entities for Farm Businesses: LLCs and Trusts
November 5 - November 19, 2020
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.
Cost is $10 per farm for both sessions. Register to attend the live webinars and receive access to recordings after each session.
Is an LLC Right for Me?
1pm-2pm, Thursday November 5, 2020
with Chris Anderson, Farm Credit East
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.
What is a Trust & Does My Farm Need One?
1pm-2pm, Thursday November 19, 2020
with Anna Richards, 2020 Consulting
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. Our speaker, business consultant Anna Richards, will describe several types of trusts that are commonly used in farm business and succession planning, and discuss the process a farm goes through to set up and manage a trust.
Legal Entities Flyer (PDF; 71KB)