An extended dry spell has broken into a summertime rain pattern in our area since the Independence Day holidays. Many crops in our area are now “laid-by”, with fungicide and insecticide treatments being the routine. I have heard reports that corn harvest may get underway in a limited fashion the week of July 18th.
As usual, most of the produce growers wrapped up harvest of their spring-planted crops around the Fourth of July. Some are already busy removing those crops to prepare for fall vegetable crops.
Peanuts should be well on their way now.
Company & Partnership Operation
Many farmers operate in some type of an entity, whether it be a corporation, company, and/or a partnership. This is done for multiple reasons such as liability avoidance, farm payment planning, and to provide structure to a farm operation.
Regardless of the structure you choose, you need to follow certain operating procedures to take advantage and benefit from the entity structure. These include first and foremost never commingling personal funds and expenses into the entity’s checking and banking accounts.
Second, each entity should have at least an annual meeting of the owners and/or partners to review the previous year’s operation; when the meeting is held, create a set of minutes to keep in the entity’s operating book.
Finally, it is a good idea to decide on a certain dollar amount that requires owner and/or partner approval to enter contracts, purchase equipment, and engage in other business operations. Once that dollar amount is determined, any business decision in excess of that amount should receive owner and/or partner approval to also place into the entity’s operating book.
All of the above should be done to ensure that no one can ever break through the entity structure and hold the owners personally liable in the event of an accident or other unfortunate circumstance. Moreover, following the above will help and facilitate both your banker and accountant in your annual loan renewals and tax return preparations.
A lot of these guys are out and about right now.
U.S. Farm Bill
It’s hard to believe, but we will soon be closer to the next Farm Bill than the one we are currently operating under, the Agricultural Act of 2014. There continue to be many unknowns due to the delayed payments under the Farm Bill. It is not too early to begin contacting your Congressman or Congresswoman regarding what you like and what you do not like, so they can incorporate those desires and concerns into the next Farm Bill.
Cotton being “Laid-By”.
- We continue to be involved in the Syngenta Corn Seed Litigation. If you grew corn in 2012, 2013, and/or 2014, you may have a claim against Syngenta. We would welcome the opportunity to speak with you regarding this matter.
- If you or someone you know have had long-term exposure to commercial and/or agricultural grad Round-Up (or its generic, glyphosate) and have been diagnosed with Non-Hodgkins Lymphoma, we would like to meet with you regarding a potential claim between the exposure and the diagnosis.
- We have recently handled several ugly administrations of estates that could have been prevented through estate planning or even a simple will. If you do not have an estate plan or a will, we would like to help you on that matter.
It’s “Go Time” for Irrigation Now!
- The University of Florida’s North Florida Research & Education Center will be holding their annual Peanut Field Day on August 11, 2016, at 8:00 a.m. Three (3) hours of Commercial Pesticide Applicator License Credit can be obtained at the Field Day. Location is 3925 Highway 71, Marianna, Florida 32446. A catfish lunch will be served at noon.
- The Wiregrass Research Station (Alabama Extension Service) will be holding their annual Field Crops Tour on August 30, 2016. Meet at the Wiregrass Research Station in Headland, Alabama, at 8:00 a.m. Buses will leave by 8:30 a.m. RSVP bus seats at 334-693-3800.
Agricultural Areas of Practice
- Real Estate Transactions (Alabama, Florida, & Georgia)
- Real Property Issues & Litigation
- Business Formations (LLCs, C-Corps, S-Corps, Partnerships)
- Contracts (Rent/Lease Agreements, Custom Farm Agreements, General Contracts)
- Farm Service Agency (FSA) Planning & Issues
- Crop Insurance Disputes, Mediation, Arbitration, & Litigation
- Business Disputes
- Debtor/Creditor Issues (Debt Workout/Chapter 12 Reorganization/Collections)
- Farm Finance Planning & Litigation
- Crop Injury Claims
- PACA Claims (Perishable Ag Commodities Act)
- Estate & Succession Planning (Wills & Trusts)
- Probate/Estate Administration & Litigation
Harvest season is just around the corner. I encourage you to begin looking over and preparing your harvest equipment. Also, check the safety of your equipment and don’t get in such a hurry that you or someone else ends up getting hurt. If I could help any of you, please do not hesitate to contact me.