FARM AND RANCH BUSINESS, ESTATE,TRANSITION, AND SUCCESSION PLANNING

The farm and ranch business, estate, transition, and succession planning practice areais led by Steven J. Clausen, who comes from a long line of farmers engaged in row crop production, purebred Angus cattle operations, feeder cattle, swine production, and raising purebred Belgian draft horses.

Mr. Clausen offers the following services in this area of the firm’s practice:

(a) Determining the proper entity for the ownership of farm or ranch land;

(b) Determining the proper entity for conducting the farm or ranch operations;

(c) Determining which strategy or strategies will achieve in a tax effective manner the owner’s goals in transferring ownership of land, operations, or machinery during the owner’s lifetime if that is an objective;

(d) Determining which strategy or strategies will achieve in a tax effective manner the owner’s goals in transferring ownership of land, operations, or machinery at the owner’s death;

(e) Developing strategies to maintain farm or ranch as a legacy asset for the owner’s descendants;

(f) Developing strategies to equitably divide the owner’s assets between farm and ranch heirs and non-farm and ranch heirs while preserving the operation of the family farm or ranch;

(g) Developing strategies to protect the inheritance of the farm and ranch heirs if an heir would have marital problems, financial problems, or liability problems.