Lynn Paulson – Bell Bank
Lynn Paulson – Bell BankLynn Paulson is senior vice president and director of agribusiness development for Bell Bank, one of the largest independently owned banks in the nation. He writes and speaks about agricultural lending and finance, the global economy and the ag economy. Paulson has expert knowledge of the ag industry, having worked in ag lending for more than 35 years and as a recently retired owner and operator of a Benson County, N.D., family farm. He works with a number of agricultural operations and businesses across several Midwestern states. Additionally, his banking experience includes merging several banks and holding companies and growing the new company to $600 million. He has also served on various financial boards.
Topic: The State of Agriculture in the Northern Plains
(Presentation Download Coming Soon!)
Working directly and indirectly with scores of farm/ranch operations in several Midwest states has given Lynn a unique perspective of the current state of the economic environment in agriculture. Moreover, he works with numerous agricultural banks in the Midwest assisting with their agricultural finance and risk management requests. Clearly, there are changes occurring across the ag space – some subtle – some not so subtle, that are presenting both threats and opportunities.
Tami Norgard – Vogel Law Firm
Tami Norgard concentrates her practice in the area of natural resources and civillitigation, including land use, environmental issues, oil, gas and energy issues, and water law. Her experience includes numerous jury trials, court trials and appeals. She joined the Vogel Law Firm in 1999 after practicing with the Gray Plant Mooty firm in Minneapolis and after working for the federal government in Washington, D.C. Tami graduated from the University of North Dakota summa cum laude with a B.A. in Political Science.
Topic: Easement Acquisition: What Every Landowner Needs to Know When Asked For Pipeline, Transmission Line, Wetlands, Conservation or Flowage Easements. – Click Here for Presentation
North Dakota is booming, and with increased economic development statewide, landowners are being asked for easements for things like electric transmission and fiber optic lines, water, oil and gas pipelines, road easements, cell tower easements, as well as dikes and flowage easements. Tami routinely handles easements issues for both landowners and public utility providers, and will provide a comprehensive discussion of landowner rights and considerations when some type of easement is requested on your land.
Timothy G.Richard – Serkland Law Firm
Tim has been an attorney with the Serkland Law Firm since 1999 and a shareholder since 2006. He grew up on his family’s farm south of Horace, North Dakota and attended Kindred High School. He received a B.S. in Economics from North Dakota State University in 1992 and then went on to obtain his J.D. from the University of North Dakota in 1997, graduating Order of the Coif. His practice areas include estate planning, elder law, probate, real estate and business law.
Options for passing farm assets and land to future generations that will minimize taxes, avoid conflicts and allow for proper management of the farming operation. Presentation to include information on using trusts, family partnerships and other business entities as part of a farm estate plan, as well as options, rights of first available for farm estates will also be covered.
Steve Troyer – Eide Bailly
Steve is the Director of Eide Bailly’s Agricultural Producers Committee and he devotes all of his energy to working with agricultural producers, providing them with tax consultation, financial statement presentation, assistance with FarmService Agency requirements and farm transition and succession planning.
Topic: How do we Transition Our Farming Operation to the Next Generation? – Click Here for Presentation
Making the decision to slow down or retire from farming can be stressful. Will the next generation be able to do what needs to be done? Can they handle the pressures of farming on their own? Am I confident enough to walk away? Is it going to cost me a fortune in tax to retire? All these questions need answers. In the time we have together, I will work through those questions and provide guidance and answers. We will look at multiple entity structures that may provide relief from high income taxes, and some entity structures that will help in estate planning as well.
John Williams III & Jessica Foss – Fredrikson & Byron
John provides sophisticated estate planning, business succession, and trust and probate administration solutions for business owners, farmers, ranchers, executives and professionals. John uses his educational background, experiences working with families and work ethic learned on his family’s farm to assist clients with estate planning, business succession, and probate and trust administration. John specializes in issues pertaining to family business succession, asset protection and tax issues. He and his team provide legal services in a comprehensive, organized and timely manner. They do this by listening to his client’s needs and providing solutions that not only provide positive financial outcomes but also emotionally satisfying results.
Jessica works closely with individuals, families, professionals, farmers and business owners to achieve their personal and financial estate planning goals. She focuses on asset protection for clients and their descendants, wealth transfer, estate tax minimization and trust and probate administration. Jessica’s desire to understand each client’s unique situation and needs allows her to provide thoughtful and personalized recommendations so that her clients feel both financially and emotionally satisfied. Prior to practicing law, she completed her C.P.A. and worked as a Tax Consultant at Deloitte in Minneapolis.
Topic: Strategies to Protect the Family Farm in a Changing World – Click Here For Presentation
The family farm is more than just a business. It’s a source of pride and family history, and its value is the result of generations pouring their blood, sweat and equity into the farm. During this presentation we will discuss different strategies to protect the family farm from divorce, creditors and other outside risks. Risks continue to increase, so it’s important to implement strategies to protect the wealth that comprises your family heritage and your family legacy.
Patrick Harrigan – Gain 1031 Exchange Company
Patrick T. Harrigan is the President/COO of Gain 1031 Exchange Company, LLC which acts as a qualified intermediary for 1031 exchanges. He has focused his career on exchanges for over 13 years and has over 18 years experience with commercial and investment real estate transactions. Patrick previously served as Vice President and Senior Vice President for a national qualified intermediary company and a subsidiary of a regional bank that served as a qualified intermediary.
Topic: 1031 Tax Deferred Exchanges of Real Estate: What are They and How to do Them (Presentation Download Coming Soon!)
1031 exchanges are all about deferring taxes. Those taxes can be very significant when selling real estate, especially in the case of land that has been held for many years. By exchanging into other replacement real estate, the seller is able to use their hard earned equity to invest in other property, instead of making a large tax payment to the IRS. The exchange rules lay out a process that must be followed to have a valid exchange, including hiring an exchange company to facilitate the exchange.