What We Do
Business Planning
Our agricultural business services include:
- Succession Planning
- Entity Selection
- Formation of Entities
- Partnership Agreements
- Buy/Sell Agreements
- Prenuptial/Postnuptial Agreements
Transitioning a farm from one generation to the next – whether the new generation is related or not – is among the biggest challenges facing the
agriculture industry today. A vast majority of farms, ranches, and agricultural businesses are family-owned and run, which means that there is almost always a need for succession planning to address the business owner’s retirement, disability, or death. There are serious and often unfavorable consequences if a business owner retires or leaves with an inadequate succession and estate plan.
Farmers need comprehensive advice in several areas to transition a business, including partnership law, estate planning, real estate, leasing, and taxes.
It is important to work with advisors that have specific knowledge of agricultural law and agricultural programs in this process.
While this may seem like a daunting task, our team will work beside you and partner with you and your trusted advisors to tailor a succession plan that best suits your needs. We strive to ensure the succession and estate plan is appropriate for every member of the agricultural family. Our mission is to ensure the upcoming generation of farmers starts out with the best possible platform while minimizing tax consequences for the preceding generation and ensuring they are comfortable with the safeguards put in place for their protection and oversight.
Contact us today to discuss your business formation and transition planning needs.
Estate Planning & Wealth Preservation
- Wills
- Powers of Attorney
- Health Care Proxies
- Living Wills
- Trusts
- Long-Term Care Planning (Medicaid Planning)
- Estate Tax Planning
- Estate Administration & Probate
Estate planning is one of the most important things you can do for your loved ones and your business. In order to preserve your wealth and farm assets, it is critical to plan in advance for a death, disability, or other catastrophic events.
Agricultural estate planning can be an especially complex endeavor. Agricultural estate planning may be complicated due to the many aspects involved, ranging from family relationships to taxes and business goals. Agricultural estate planning can help address local, state, and federal estate tax issues. A skilled agricultural lawyer can assist with the broad-reaching issues surrounding estate planning and probate.
We understand that estate planning for family farms and agricultural operations means more than just arranging for the transfer of property from one generation to another. It means preserving assets so that the current generation can have security and get the care they need as they age without jeopardizing the farm’s future and their heirs’ livelihood.
No matter how a family farm decides to pass on their farm, it is critical to create a detailed estate planning farm to transfer assets. One of the best steps you can take to ensure that your estate planning goals are achieved is to speak with a knowledgeable attorney.
Contact us today to discuss your estate planning & administration needs for your farm.
Real Estate/Business Transactions
We handle a broad range of real estate and business transactions for our agriculture clients throughout New York State. Whether a client is purchasing a turn-key farm operation or a vacant piece of land, we can guide you through all aspects of the purchase or sale, including:
- Contract negotiation
- Purchase/sale agreements
- Financing
- Leasing
- Title research
Renewable Energy Projects in Agriculture (wind, solar, digesters)
Van Erden Richardson helps farmers with respect to renewable energy contracts such as digester agreements, wind turbines, solar farms, and other renewable energy projects.
Renewable energy projects can offer financial security for land owners and can be attractive.
Landowners looking at potential renewable energy projects need to consider a wide scope of variables. It is important to ensure you get proper legal advice on these issues and that the agreements are negotiated as fairly as possible.
