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2022 Ag Law Summit

Description

Washburn University School of Law, in collaboration with Creighton University School of Law, presents the "2022 Agricultural Law Summit". This program is an overview and update on the noted areas of tax law and practice. 

Objectives

  • This program will provide an overview of tax law provisions relating to a variety of issues that arise in Farm and Ranch Tax, Estate, and Business Planning. The program assumes attendees will have an intermediate level of expertise in the area and are generally familiar with the areas of tax law addressed by the various topical areas listed in the program.
  • Attendees who complete the program will be updated as to current issues in this tax practice area. They will also work through application examples in the noted subjects areas covered by the various presenters.
  • At three points during each hour of presentation attendees will be asked to answer questions about the presentation to confirm 1) their attendance and 2) their understanding of the material as it is presented live online.

Register 

Designed for

This program is appropriate for attorneys, certified public accountants, enrolled agents, and tax practitioners.

Provided by

  • Creighton University School of Law
  • Creighton University Office of Continuing Education
  • Washburn University School of Law 

Speakers

Roger A. McEowen

Professor of Agricultural Law and Taxation at Washburn University School of Law in Topeka, Kansas. He is a member of the Iowa and Kansas Bar Associations and is licensed to practice in Nebraska. Professor McEowen publishes the online Washburn Agricultural Law and Tax Report (WALTR) which focuses on legal and tax issues that agricultural producers, agricultural businesses, and rural landowners face and he maintains the Agricultural Law and Taxation Blog. He is also widely published in law reviews and agricultural law publications and conducts agricultural tax and law seminars across the country. McEowen is also heard weekly on RFD-TV, and daily on over 190 farm radio stations nationwide and on SiriusXM 147 with the "Agricultural Law and Tax Report".

Edward A. Morse

Professor of Law and holds the McGrath North Endowed Chair in Business Law at Creighton University School of Law in Omaha, Nebraska. Professor Morse's scholarship focuses on taxation, technology, and regulation, often involving interdisciplinary collaboration. He also speaks and consults regularly on topics related to his research and teaching interests, including regular presentations for the Great Plains Tax Institute, the Nebraska State Bar Association, and the American Bar Association's Section of Business Law. He currently serves as vice-chair of the ABA's Cyberspace Law Committee.

Daniel J. Waters

Partner in Lamson Dugan & Murray LLP's Business and Estate Planning Department and serves on the Firm's Management Committee. His practice focuses in the areas of estate planning, business succession planning, corporate governance, and commercial transactions. Dan regularly counsels closely-held businesses and their owners, including many farmers and ranchers. He is licensed in Nebraska and Iowa. Dan is an active member on the boards of several local charitable organizations. Dan spends his time away from work with his wife and four young children.

Colten C. Venteicher's

In practice with Bacon, Vinton & Venteicher, L.L.C. of Gothenburg, Nebraska, focuses on estate planning and probate, real estate, and business and commercial law. Colten is a registered abstractor and a licensed title insurance agent in the state of Nebraska. He also counsels communities and businesses with economic development projects. Colten graduated from the Creighton University School of Law in 2016, summa cum laude. He is an active member of numerous community organizations involved in economic development efforts, including early childhood education, housing, and business recruitment and expansion.

Darrell Holaday

President of Advanced Market Concepts (AMC), an agricultural marketing consulting firm he established in 1996. AMC works directly with agricultural producers and food companies in developing and executing marketing plans. They are also involved in economic analysis that includes business and marketing plans for new companies that use agricultural products. Darrell has been involved in developing risk management strategies for food producers and end users for forty years. His company is in partnership with Country Futures to provide risk management brokerage services. Darrell and his wife Pam, live in Wamego, Kansas. He received a Masters Degree in Agricultural Economics from Kansas State University in 1984.


Schedule

8:15 a.m.
Registration

8:45 a.m.
Survey of Agricultural Law and Tax Developments

This survey session explores the major recent developments in law and tax that are applicable to farm and ranch clients. Topical coverage will include developments in ag contracts; real estate; farm bankruptcy; ag financing; farm income tax; farm estate and business planning; liability issues; environmental and regulatory law.

9:45 a.m.
A Survey of Tax issues Surrounding Death of a Farm Business Owner

This session will cover fundamental tax concerns affected by death of a farm business owner, including effects on entity structures including C corporations, S corporations, partnerships, and LLCs (including SMLLCs). Topics will include tax attributes (including basis), the scope of income in respect of a decedent, income effects on ownership transfers, and tax elections.

10:45 a.m.
Morning Break

11 a.m.
Governing Documents for your Farm or Ranch Business Entity: When, How, and Why they Matter

This presentation will focus on an entity's governing documents relative to voting and management rights, contribution and distribution rights, and exit and transferability rights. Discussed will be specific provisions to consider including, along with potentially a few to avoid.

12 p.m.
Lunch

12:45 p.m.
Lands Changing Hands- Fence Line Issues to Consider when Buying or Selling Ag Real Estate

In the midst of over 400 million acres of agricultural land changing hands in a 20-year period, practitioners need to be aware of costly pitfalls presented by boundary lines in the context of a transfer, purchase or sale of real estate. Discussion will cover issues related to construction and maintenance of fence lines, quiet title and adverse possession actions, and boundary line agreements.

1:45 p.m.
Afternoon Break

2 p.m.
Climate Insanity Created Economic Insanity

This session will examine the food and agricultural economic outlook in the present uncertain atmosphere and provide practitioners with an understanding of the current economic situation facing their farm clients and what the economic projections are in the farm economy for 2023. Gaining insight into ag markets and ag economics can help the practitioner advise the farm client as to current tax, estate and succession planning strategies to minimize economic and financial risk for ag clients.

3 p.m.
Asset Planning Do's and Do Not's: Ethical Risk Evaluation and Avoidance

This session will deal with numerous legal and ethical issues involving clients seeking to engage the practitioner in assisting with shielding assets from creditors from both and estate and tax planning perspective. How can these clients be identified? What planning steps are appropriate? Does timing matter concerning asset transfers and the creation of entities? What is proper and improper financial disclosures? A recent court decision will be used to specifically review the major potential ethical violations in these situations.

4 p.m.
Adjourn and Reception
 

Date and Time

to
Add to Calendar 20220930T081500Z 20220930T160000Z America/Chicago 2022 Ag Law Summit <p>Washburn University School of Law, in collaboration with Creighton University School of Law, presents the "2022 Agricultural Law Summit".&nbsp;This program is an overview and update on the noted areas of tax law and practice.&nbsp;<br /> <br /> <strong>Objectives</strong></p> <ul> <li>This program will provide an overview of tax law provisions relating to a variety of issues that arise in Farm and Ranch Tax, Estate, and Business Planning. The program assumes attendees will have an intermediate level of expertise in the area and are generally familiar with the areas of tax law addressed by the various topical areas listed in the program.</li> <li>Attendees who complete the program will be updated as to current issues in this tax practice area. They will also work through application examples in the noted subjects areas covered by the various presenters.</li> <li>At three points during each hour of presentation attendees will be asked to answer questions about the presentation to confirm 1) their attendance and 2) their understanding of the material as it is presented live online.</li> </ul> <h2><a href="https://choose.creighton.edu/register/?id=4d3949a4-a5b7-44f3-b3d8-b9967c8c7e09">Register&nbsp;</a></h2> <h2>Designed for</h2> <p>This program is appropriate for attorneys, certified public accountants, enrolled agents, and tax practitioners.</p> <h2>Provided by</h2> <ul> <li>Creighton University School of Law</li> <li>Creighton University Office of Continuing Education</li> <li>Washburn University School of Law&nbsp;</li> </ul> <h2>Speakers</h2> <p><strong>Roger A. McEowen</strong></p> <p>Professor of Agricultural Law and Taxation at Washburn University School of Law in Topeka, Kansas. He is a member of the Iowa and Kansas Bar Associations and is licensed to practice in Nebraska. Professor McEowen publishes the online&nbsp;<a href="https://www.washburnlaw.edu/practicalexperience/agriculturallaw/waltr/index.html">Washburn Agricultural Law and Tax Report</a>&nbsp;(WALTR) which focuses on legal and tax issues that agricultural producers, agricultural businesses, and rural landowners face and he maintains the&nbsp;<a href="http://lawprofessors.typepad.com/agriculturallaw/">Agricultural Law and Taxation Blog</a>. He is also widely published in law reviews and agricultural law publications and conducts agricultural tax and law seminars across the country. McEowen is also&nbsp;<a href="https://www.youtube.com/playlist?list=PLV6421PR_GxeEp8zIh-6EMJ9VNkdBlwNL">heard weekly on RFD-TV</a>, and daily on over 190 farm radio stations nationwide and on SiriusXM 147 with the "Agricultural Law and Tax Report".</p> <p><strong>Edward A. Morse</strong></p> <p>Professor of Law and holds the McGrath North Endowed Chair in Business Law at Creighton University School of Law in Omaha, Nebraska. Professor Morse's scholarship focuses on taxation, technology, and regulation, often involving interdisciplinary collaboration. He also speaks and consults regularly on topics related to his research and teaching interests, including regular presentations for the Great Plains Tax Institute, the Nebraska State Bar Association, and the American Bar Association's Section of Business Law. He currently serves as vice-chair of the ABA's Cyberspace Law Committee.</p> <p><strong>Daniel J. Waters</strong></p> <p>Partner in Lamson Dugan &amp; Murray LLP's Business and Estate Planning Department and serves on the Firm's Management Committee. His practice focuses in the areas of estate planning, business succession planning, corporate governance, and commercial transactions. Dan regularly counsels closely-held businesses and their owners, including many farmers and ranchers. He is licensed in Nebraska and Iowa. Dan is an active member on the boards of several local charitable organizations. Dan spends his time away from work with his wife and four young children.</p> <p><strong>Colten C. Venteicher's</strong></p> <p>In practice with Bacon, Vinton &amp; Venteicher, L.L.C. of Gothenburg, Nebraska, focuses on estate planning and probate, real estate, and business and commercial law. Colten is a registered abstractor and a licensed title insurance agent in the state of Nebraska. He also counsels communities and businesses with economic development projects. Colten graduated from the Creighton University School of Law in 2016,&nbsp;<em>summa cum laude</em>. He is an active member of numerous community organizations involved in economic development efforts, including early childhood education, housing, and business recruitment and expansion.</p> <p><strong>Darrell Holaday</strong></p> <p>President of Advanced Market Concepts (AMC), an agricultural marketing consulting firm he established in 1996. AMC works directly with agricultural producers and food companies in developing and executing marketing plans. They are also involved in economic analysis that includes business and marketing plans for new companies that use agricultural products. Darrell has been involved in developing risk management strategies for food producers and end users for forty years. His company is in partnership with Country Futures to provide risk management brokerage services. Darrell and his wife Pam, live in Wamego, Kansas. He received a Masters Degree in Agricultural Economics from Kansas State University in 1984.</p> <hr /> <h2>Schedule</h2> <p><strong>8:15 a.m.</strong><br /> <strong>Registration</strong></p> <p><strong>8:45 a.m.</strong><br /> <strong>Survey of Agricultural Law and Tax Developments</strong></p> <p>This survey session explores the major recent developments in law and tax that are applicable to farm and ranch clients. Topical coverage will include developments in ag contracts; real estate; farm bankruptcy; ag financing; farm income tax; farm estate and business planning; liability issues; environmental and regulatory law.</p> <p><strong>9:45 a.m.</strong><br /> <strong>A Survey of Tax issues Surrounding Death of a Farm Business Owner</strong></p> <p>This session will cover fundamental tax concerns affected by death of a farm business owner, including effects on entity structures including C corporations, S corporations, partnerships, and LLCs (including SMLLCs). Topics will include tax attributes (including basis), the scope of income in respect of a decedent, income effects on ownership transfers, and tax elections.</p> <p><strong>10:45 a.m.</strong><br /> <strong>Morning Break</strong></p> <p><strong>11 a.m.</strong><br /> <strong>Governing Documents for your Farm or Ranch Business Entity: When, How, and Why they Matter</strong></p> <p>This presentation will focus on an entity's governing documents relative to voting and management rights, contribution and distribution rights, and exit and transferability rights. Discussed will be specific provisions to consider including, along with potentially a few to avoid.</p> <p><strong>12 p.m.</strong><br /> <strong>Lunch</strong></p> <p><strong>12:45 p.m.<br /> Lands Changing Hands- Fence Line Issues to Consider when Buying or Selling Ag Real Estate</strong></p> <p>In the midst of over 400 million acres of agricultural land changing hands in a 20-year period, practitioners need to be aware of costly pitfalls presented by boundary lines in the context of a transfer, purchase or sale of real estate. Discussion will cover issues related to construction and maintenance of fence lines, quiet title and adverse possession actions, and boundary line agreements.</p> <p><strong>1:45 p.m.</strong><br /> Afternoon Break</p> <p><strong>2 p.m.</strong><br /> Climate Insanity Created Economic Insanity</p> <p>This session will examine the food and agricultural economic outlook in the present uncertain atmosphere and provide practitioners with an understanding of the current economic situation facing their farm clients and what the economic projections are in the farm economy for 2023. Gaining insight into ag markets and ag economics can help the practitioner advise the farm client as to current tax, estate and succession planning strategies to minimize economic and financial risk for ag clients.</p> <p><strong>3 p.m.</strong><br /> Asset Planning Do's and Do Not's: Ethical Risk Evaluation and Avoidance</p> <p>This session will deal with numerous legal and ethical issues involving clients seeking to engage the practitioner in assisting with shielding assets from creditors from both and estate and tax planning perspective. How can these clients be identified? What planning steps are appropriate? Does timing matter concerning asset transfers and the creation of entities? What is proper and improper financial disclosures? A recent court decision will be used to specifically review the major potential ethical violations in these situations.</p> <p><strong>4 p.m.</strong><br /> Adjourn and Reception<br /> &nbsp;</p> Harper Center Room 4068 and 4069 602 North 20th Street Omaha, Nebraska 68102

Location

Harper Center Room 4068 and 4069
602 North 20th Street
Omaha, Nebraska 68102