Author Archive


Personal Guaranties: Know What You’re Signing

Posted on: July 26th, 2023 by

Most of us have had to ask a more financially secure family member to co-sign a loan so we could buy a car, farm tractor, or enter into a lease. If you’ve ever been the co-signer, you know that even though you trust your child or family member to pay it off, there’s always that […]

USDA OKs Choice for Farmers to Keep Inflation Reduction Act Relief—or Not

Posted on: July 13th, 2023 by

In the months since we visited the scenarios of Robert and Charles—two fictional farmers who received farm debt relief under Section 22006 of the 2022 Inflation Reduction Act (IRA)—the Farm Service Agency (FSA) has announced two major changes in how recipients can choose to deal with their new windfall. Last year FSA repaid more than […]

Defending against preference repayment demands

Posted on: June 16th, 2023 by

Taking a break from the morning’s work, you stop by the mailbox only to find an unfamiliar envelope from some law firm. The letter inside is notification that the XYZ Grain Elevator has filed for Chapter 11 bankruptcy reorganization, and as part of this, you might have to turn over to the court a good […]

From Debt to Deliverance: Wade

Posted on: May 16th, 2023 by

Note: This is the final installment of a three-part blog series about ABLS clients and their debt resolution stories. In March and April, we shared the debt restructuring stories of retired and active Iowa farmers Jerry and Deb, and Paul and Linda, respectively. In this blog, meet a third Iowa farmer: Wade. Wade had his […]

From Debt to Deliverance: Paul and Linda

Posted on: April 24th, 2023 by

Note: This is the second of a three-part blog series about ABLS clients and their debt resolution stories. In March we shared the story of retired Iowa farmers Jerry and Deb and the debt restructuring plan we developed for them. In this blog meet another Iowa farm couple, Paul and Linda. An average crop in […]

From Debt to Deliverance: Jerry and Deb

Posted on: March 23rd, 2023 by

Poor crops. A barn fire. Disabling injuries. New bank managers who don’t know you and are less cooperative than the ones they replaced. Our clients have experienced devastating events like these, and more. Events that threatened to leave them destitute. In this month’s blog, and in April and May, we’ll share stories of three farm […]

Selling a farm: capital idea or capital gains tax?

Posted on: March 2nd, 2023 by

Note: This is the second of a two-part blog series on buying or selling a farm Why do you want to sell your farm? Why do you want to buy a farm? In January, we wrote that before you put your farm on the market or negotiate a farm purchase, you should ask yourself those […]

Waiting to Act Only Exacerbates Financial Problems

Posted on: December 1st, 2022 by

Farmer spouses who keep the operation’s books might not be spending long hours in the field or barn, but the time they devote to the financials can just as easily make or break the family business. The spouse manager must be proactive should they see expenses outpacing income. Debt can accumulate rapidly and could, if […]

Prices up, but some farmers in financial straits

Posted on: October 26th, 2022 by

Commodity prices are trending higher, yet many farmers are struggling to pay their bills. The reasons are varied but could spell disaster if producers don’t get a handle on their finances. So say Joe Peiffer, founder and shareholder of Ag & Business Legal Strategies, and Keith Starr, the firm’s chief financial strategist, as they discuss […]