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2019 Articles

Basic Fall Business Planning By Jeffrey A. Mollet October 2019 As 2019 winds down, it is a good time for clients to reflect on what the past year has provided and to begin to make business plans for the coming year.
Chapter 12 bankruptcy and the tools-of-the-trade exemption By Roger A. McEowen January 2019 Now that the farm sector has been going through several down economic years, the use of Chapter 12 bankruptcy has increased.
Editor’s note By Jeffrey A. Mollet March 2019 For those advising agricultural clients, having a better understanding of the agricultural industry and trying to get a handle on the numbers of the business are musts.
Farm leasing: More complex than ever? By Jeffrey A. Mollet January 2019 Using a proper written lease to address many of the issues in farm land leases can help avoid potential problems.
IRS 2019 farm tax return due date extended By Jeffrey A. Mollet March 2019 The IRS recently announced that standard March 1 deadline for farmers to file a tax return has been extended to April 15, 2019. 
Is the reference in a financing statement to a security agreement sufficient? By Jeffrey A. Mollet June 2019 A summary of I80 Equipment, LLC v. First Midwest Bank, in which the court determined whether a UCC-1 financing statement perfects a party’s security interest when that financing statement references a separate security agreement.
The need for a roundup on Roundup? By Jeffrey A. Mollet June 2019 Roundup has been making news recently, mostly as a result of the large verdicts rendered in litigation alleging the weed killer causes cancer.
Non-dischargeable debts in bankruptcy By Roger A. McEowen April 2019 With an uptick in farm and ranch bankruptcy filings over the past few years, bankruptcy law is an important topic for farmers and their legal counsel.
Processing Outside Crops Not Exempt From Overtime By Charles P. Rudolph October 2019 While the general exception of farm workers from overtime pay requirements may be well known, some limitations on the exception relating to processing farm produce may come as a surprise.
Simple But Major Amendment to Chapter 12 By Jeffrey A. Mollet September 2019 In late August, President Trump signed legislation amending Chapter 12 of the Bankruptcy Code, raising the debt limit for potential Chapter 12 debtors.
Trading Farmland for a Vacation Home: Can This Be a Qualified 1031 Exchange? By Jeffrey A. Mollet September 2019 When dealing with replacement property, care should be taken to make sure that the client's facts and intended use of the replacement property fully meet the requirements of the applicable safe harbor rules.
What is the valuation standard for valuation of a minority interest in an Illinois LLC? By George Bellas & Jillian Tattersall January 2019 When a minority interest holder leaves an Illinois limited liability company, determining the value of that former member’s share presents counsel and courts with questions of methodology.