Wednesday, March 26, 2014

Reduce Farm Liability: Set Up a New Company for Your Custom Farming Operation

Farm Journal's Sara Schafer recently consulted me for an article she wrote on how to "Reduce Liability" for the farm. Her article discusses the need to create new legal companies to handle certain farm operations that fall outside of normal farm-work, such as custom farming or trucking.  Her article appeared in Top Producer and AgWeb, Farm Journal's online publication:
Custom farm work is a great way to diversify a business. It can provide supplemental income but can also add extra risk and exposure to your primary farm.
Todd Janzen, a partner at Plews Shadley Racher & Braun LLP in Indianapolis, Ind., says it makes legal sense to structure any type of custom farm service as a separate business.
"The main reason to set up a new company for your custom work is not to avoid liability," Janzen explains. "It’s to make sure the liability stays connected to the custom business and not your farm."
Continue reading the rest of the article on AgWeb's page: Reduce Liability.

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