Prenuptial agreements safeguard valuable assets, including family farms, in the event of a divorce. They can play a key role in preserving a farm's legacy and functionality across generations. Protecting farm assets Family farms often consist of significant resources,...
From unpredictable weather to fluctuating market prices, many factors can impact your farm's financial health. If you're struggling to keep up with debts and facing the possibility of foreclosure, Chapter 12 bankruptcy might be a viable option to help you regain...
Divorce is complex, and valuing a business for a divorce settlement can be difficult. It's essential to use accurate and fair methods to determine the value. Here are some of the best strategies to consider. Professional business valuation Hiring a professional...
Filing for Chapter 12 bankruptcy is a process designed specifically for family farmers and fishermen who face financial hardships. This form of bankruptcy provides these individuals with the opportunity to restructure their finances and avoid foreclosure or...
Small business owners in New York face unique considerations when it comes to protecting their ventures during a divorce. There are practical ways to safeguard a small business during marital dissolution. 1. Clear business ownership structure Establishing a...
The holiday season is a time for celebration, tradition and togetherness. However, for parents who share joint custody of their children, it can also be a time of added complexity and potential challenges. Joint custody arrangements, where both parents play an active...
If you own a farm and face financial turmoil, you might feel overwhelmed and unsure of how to proceed. In these cases, one solution that might offer you a lifeline is Chapter 12 bankruptcy. Chapter 12 bankruptcy, established by Congress in 1986, provides a solution...
Individuals and businesses can file for bankruptcy. However, the requirements are different depending on your situation. What does that mean if you are the individual owner of a small farm? Consider the requirements for filing a Chapter 12 in New York. What is a...
Running a farm comes with enormous challenges. There exists a significant risk of even the best enterprise collapsing. Those that fall into trouble typically face bankruptcy. Wise strategies help mitigate the prospect of this becoming a reality. Make smart buys While...
Chapter 12 bankruptcy allows family farmers and fishermen to reorganize debts when expenses exceed income. This bankruptcy option is one of several to consider, so interested parties should know the answers to these frequently asked questions to determine if Chapter...
