LEGAL REPRESENTATION FOR THE FARM INDUSTRY
This Blog is sort of an ongoing “page” linked from my MICHIGAN ESTATE PLANNING and MICHIGAN BUSINESS LAW Blogs. You most likely arrived here by clicking on a link in one of these pages. If you got here...
View ArticleShould You Sign That Wind Lease?
If you own land, especially farmland, in the “Thumb” region or in Southeastern Michigan, you have likely been approached (or likely will be approached) by developers for a Wind Energy Lease. For most...
View ArticleShould You Sign that “Standard” Oil & Gas Lease?
Over the past 25 years, I have reviewed many Oil and Gas Leases brought to me by landowner clients. Usually they have been "printed" form documents and have mostly been similar if not identical, almost...
View ArticleNew Estate Tax Laws Will Benefit Family Farm Succession Planning
Someone recently asked me if I believe in miracles. I do now! On December 17, 2010, after more than 6 years of inaction, bickering, hemming and hawing, Congress, suddenly and unexpectedly, miraculously...
View ArticleSnyder Budget Targets Farmland Preservation Credits
Governor Snyder's proposed budget focuses on removing tax credits he regards as benefitting special interests. In my view, we all have our own special interests, and our economy is made up of many,...
View ArticleUpdate on Farmland Development (P.A. 116) Situation
In March I blogged about Governor Snyder's proposed budget plan, which purports to eliminate all tax credits, in what he articulates as a "leveling of the playing field." Whether you buy that or not,...
View ArticleEffective Estate, Succession and Business Planning for Farmers
Family Farm businesses are unique. Family farming may be the only industry where the owners live and work in the same place. Farm children grow up going to work with their parents every day. Many farm...
View ArticleShould You Convert Your Land Partnership to an LLC?
Since 1997, the Michigan Limited Liability Company Act has provided for an "automatic conversion" of Michigan Partnerships (both regular and Limited Partnerships) into a Limited Liability Company. Over...
View ArticleNavigating the Michigan General Property Tax Qualified Agricultural Property...
The Michigan General Property Tax grants two significant exemptions from the levy of taxes by school districts. They are the qualified agricultural property exemption, and the personal residence...
View ArticleNew Estate and Gift Tax Law will be Good for Farmers
Late on January 1, Congress enacted "The American Taxpayer Relief Act of 2012." I won't go into great detail about the act (there is a lot about it we still don't actually know and will have to wait...
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