2015 September Seminars

Agricultural Law Seminar - Thursday, September 17, 2015

Roger McEowen and Kristine Tidgren  [8:00 a.m. – 9:50 a.m.]
Title:   Agricultural Law Update
Description: This session will review recent state and federal legal developments impacting agricultural clients. Included in this session will be a discussion of eminent domain in the context of a proposed crude oil pipeline, clean water regulations and litigation, and an overview of recent case law.  

Morning Break:  [9:50 a.m. – 10:05 a.m.]

David Pierce  [10:05 – 11:30 a.m.]
Title:  Introduction to Iowa Mineral Law for Lawyers Representing Farmers and Other Landowners
Description:  In this presentation, Professor Pierce will survey Iowa law governing the ownership, transfer, and development of oil, gas, and other mineral resources. He will focus on surface owner rights and burdens when a mineral estate has been created in land. He will also address the impact of mineral development on other land users, such as farm tenants and wind developers. He will target his analysis on issues likely to be encountered by lawyers representing farmers and other landowners.

Kristy Maitre  [11:30 – Noon]
Topic:  IRS Matters For Rural Practitioners
Description:  General practitioners need to have basic understanding of many areas of the law, including having a working knowledge of the basics of tax law and IRS procedures. Unusual issues come up on a regular basis and sometimes finding the correct procedure or method to resolve the issue is time consuming.  This presentation will review some of the IRS procedural information on a variety of issues, such as using the Form 8879 as a signature document, the OIC Pre-Qualifier, identity theft procedures and many others.

Lunch Break:  [Noon – 1:00 p.m.]

Joe Peiffer  [1:00 p.m. – 2:10 p.m.]
Title:  Troubled Financial Times Return to Farming. 
Description:  After several years of great commodity prices and solid yields, reality returns to the heartland.  Credit problems are causing ag bankers to tighten lending requirements for farmers leading to lifestyle adjustments and significant belt tightening.  This presentation examines the changing credit problems faced by farmers including bankruptcy and non-bankruptcy solutions while always looking over the shoulder to make sure that income tax concerns are properly identified and addressed if possible.  The presentation will also include a review of Bankruptcy legislative changes important to farmers and agribusiness.

Afternoon Break:  [2:10 – 2:30 p.m.]

Mark Newman  [2:30 – 3:45 p.m.]
Title:  Farm Land Transactions in a Tepid Market 
Description:  Buying and selling farmland during a declining market requires anticipation of “buyer’s remorse.”  This session explains how to give buyers complete, yet accurate, information.  Attendees will learn about FSA authorization forms and various methods of describing the quantity, quality, boundaries, possession and use restriction issues, drainage and fence issues and what to expect at an auction.  Among other things, topics addressed will include special clauses for farm land auction or sale contracts.  Also covered will be the timing of farm land sales and financing options, including conventional, USDA-financed and contract sales.  In addition, the session covers succession planning issues for the ‘favored’ child, along with will contests and potential partition actions and how to discourage them. 

Todd Scott  [3:45 – 4:45 p.m.]
Title: Ethical Applications of New Technologies in Law Practice
Description: This session will review the professional liability risks and ethical concerns associated with new technologies in the practice of law. This program will examine the ethical risks associated with cloud based software platforms, wi-fi networks, portable computing devices and other technology tools. The presenter will also provide you with the steps lawyers should take to know they are practicing law safely in the digital age.

Farm Estate and Business Planning Seminar - Friday, September 18, 2015

Roger McEowen and Kristine Tidgren  [8:00 a.m. – 9:50 a.m.]
Title:     Estate, Business and Succession Planning Update
Description:  This session explores case law and legislative developments from the past year at both the federal and Iowa levels of relevance to practitioners advising clients on estate, business and succession planning.   

Morning Break:  [9:50 a.m. – 10:05 a.m.]

Joe Kristan  [10:05 – 10:50 a.m.]
Title:  Here Be Monsters: The Offshore Compliance Horror Show.
Description:   When you have a client or an estate with international items, tax compliance reaches a new level of complexity and risk. We will review filing requirements arising from offshore trusts, non-U.S. assets, non-U.S. inheritances, foreign gifts and offshore accounts – and the frightening fines for non-compliance.

Bob Price  [10:50 – Noon]
Title: Opportunities in Planned Giving for Today’s Environment
Description:  This session will explore the opportunities available in planned giving, including minimization of current income tax, use of corporate charitable bailouts to compliment succession planning goals and options for reducing taxable estates.

Lunch Break:  [Noon – 1:00 p.m.]

Robert Dallman and Daniel Geraghty  [1:00 – 2:00 p.m.]
Title:   Structuring the Intergenerational Wealth Transfer
Description:  This session provides a comparison of intergenerational wealth transfer techniques (from GRATS to SCINS to Regular Installment Sales and Gifts) including a discussion of choice of entity, selected valuation issues, and other issues.

Kristy Maitre [2:00 p.m. – 2:35 p.m.]
Title:  IRS Estate and Trust Procedural Issues
Description:  Issues addressed in this session include general procedural issues related to estate and gift tax. Specific guidance will be given on how to obtain copies of prior filed gift tax returns, perfecting the return that has been filed, how to terminate a fiduciary relationship and other issues concerning trusts, estates and gift tax.  The new IRS Letter 5256-D will also be reviewed.

Afternoon Break:  [2:35 p.m. – 2:55 p.m.]

Tom Vance and Roger McEowen  [2:55 p.m. – 3:45 p.m.]
Title:   Demystifying Selected Like-Kind Exchange Issues (Including Farm Land and Real Estate in General)
Description:   This session provides detailed analysis of how to (in substance) exchange partner interests when it is (in form) prohibited and   how to validly exchange property (contrary to the IRS Regulations) when the replacement land (on which the replacement improvements will be built)is owned by the taxpayer.  Also addressed will be specific like-kind exchange issues of relevance to agricultural clients.  

Kristine Tidgren and Roger McEowen  [3:45 p.m. – 4:45 p.m.]
Title: Ethical Issues Facing Estate, Business, and Income Tax Planners
Description:  This session will discuss common ethical issues arising when representing clients during the estate and business planning process. Specifically addressed will be the prevention of malpractice claims, tips for dealing with older and infirm clients, and strategies to ward off ethical problems when representing a family business.