[WSBAPT] Farms and LLCs

Wed Jan 31 11:57:09 PST 2024

One last thought, for what it's worth.  The client of course makes the final call!  When going with insurance only, at a minimum we just remind them that 1 or 2 Million is not what it use to be.

Diane J. Kiepe
Douglas Eden, P.S.
717 W. Sprague Ave., Suite 1500
Spokane, WA  99201
djkiepe at depdslaw.com<mailto:djkiepe at depdslaw.com>
509-455-5300

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From: wsbapt-bounces at lists.wsbarppt.com <wsbapt-bounces at lists.wsbarppt.com> On Behalf Of Jacob
Sent: Wednesday, January 31, 2024 11:46 AM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com>
Subject: Re: [WSBAPT] Farms and LLCs

I appreciate you both, Diane and Philip, for responding to my query.

Sincerely,

Jacob

From: wsbapt-bounces at lists.wsbarppt.com<mailto:wsbapt-bounces at lists.wsbarppt.com> <wsbapt-bounces at lists.wsbarppt.com<mailto:wsbapt-bounces at lists.wsbarppt.com>> On Behalf Of Philip N. Jones
Sent: Wednesday, January 31, 2024 1:31 AM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com<mailto:wsbapt at lists.wsbarppt.com>>
Subject: Re: [WSBAPT] Farms and LLCs

I think the answer varies from attorney to attorney.  I lean towards insurance alone, but sone lean towards insurance and an LLC.
Phil Jones

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________________________________
From: wsbapt-bounces at lists.wsbarppt.com<mailto:wsbapt-bounces at lists.wsbarppt.com> <wsbapt-bounces at lists.wsbarppt.com<mailto:wsbapt-bounces at lists.wsbarppt.com>> on behalf of Diane J. Kiepe <DJKiepe at depdslaw.com<mailto:DJKiepe at depdslaw.com>>
Sent: Tuesday, January 30, 2024 10:31:37 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com<mailto:wsbapt at lists.wsbarppt.com>>
Subject: Re: [WSBAPT] Farms and LLCs

While reasonable minds can differ, I don't believe in such a thing as "the right insurance".  Call me cynical but it isn't unheard of that an insurance company will refuse coverage if they can find anyway to not pay.  I have been hearing about this firsthand with the Grey fire here.  I always recommend an LLC for rental property of any type, but farms, in particular.  I also consider whose using whose equipment because and what other property may exist on farmland (for example a residence or two) to determine if more than one LLC makes sense, or if what gets put into the single LLC needs to have excluded property that most folks consider farm property.

Diane J. Kiepe
Douglas Eden, P.S.
717 W. Sprague Ave., Suite 1500
Spokane, WA  99201
djkiepe at depdslaw.com<mailto:djkiepe at depdslaw.com>
509-455-5300

KINDLY ALLOW 2-4 WORKING DAYS TO RECEIVE A RESPONSE TO NON-URGENT EMAILS.  FEEL FREE TO SEND YOUR EMAIL (OR RESEND YOUR EMAIL AS THE CASE MAY BE) MARKED URGENT IN THE SUBJECT LINE.

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-----Original Message-----
From: wsbapt-bounces at lists.wsbarppt.com<mailto:wsbapt-bounces at lists.wsbarppt.com> <wsbapt-bounces at lists.wsbarppt.com<mailto:wsbapt-bounces at lists.wsbarppt.com>> On Behalf Of Jacob
Sent: Tuesday, January 30, 2024 12:06 PM
To: WSBA Probate & Trust Listserv <wsbapt at lists.wsbarppt.com<mailto:wsbapt at lists.wsbarppt.com>>
Subject: [WSBAPT] Farms and LLCs

I am wondering if someone is renting out a farm to someone else to farm, if it's a matter of course or very advised that they put what they own in an LLC for liability protection. Or, if it's more common for the landowner not to use an LLC and instead to make sure they have the right insurance in place. Also, if someone responds that I should refer or consult given the situation I am mentioning, I will of course want to hear that!

Sincerely,

Jacob

Jacob H. Menashe
Hickman Menashe, PS
4211 Alderwood Mall Blvd., Suite 204
Lynnwood, WA 98036
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(425) 744-6078 fax
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