On Wednesday, August 16, at 12 noon (ET), the Agricultural & Food Law Consortium presents a free webinar, “Using LLCs in Agriculture: Beyond Liability Protection.”
Since every state statutorily authorized the Limited Liability Company (LLC) as a business structure, the LLC has become a popular entity choice for farm businesses. But while often touted as a silver bullet for liability protection, the LLC is limited in its ability to shield a business from liability. Conversely, the LLC provides other benefits for agriculture beyond liability protection. This webinar will provide an overview of the history of the LLC and an explanation of divergences between state LLC statues, then will focus on recognizing the limitations of LLCs while capitalizing on other values LLCs offer agriculture.
Topics covered in this webinar will include:
A history of the LLC and comparison of differences among LLC statutes
Relevant court cases on LLCs and liability
Limitations of using the LLC for liability protection
Advantages and disadvantages of single member LLCs
Strategies for using LLCs for land holding
Multiple LLCs for farm business and estate planning
Beginning farmers, attorneys, students, and ag professionals seeking additional understanding of issues related to farm incorporation will want to attend.
Details on this free webinar, including sign-in information, are available here.