In this episode of AgCredit Said It, host Libby Wixtead interviews attorney Ryan Conklin about the different types of entities farmers can use to structure their farms. They discuss sole proprietorships, partnerships, LLCs, and corporations, and the benefits and drawbacks of each. They also touch on the importance of having an operating agreement or partnership agreement in place, as well as the role of entities in succession planning. They emphasize the need for farmers to communicate with their lenders and other advisors when setting up entities and making changes to their business structure. They also conclude with advice for young and beginning farmers to start early when it comes to setting up an entity.

Show Notes: https://www.agcredit.net/news/episode-52-dbas-corporations-decoding-farm-business-structures-ryan-conklin

Resources mentioned in this episode:

• Ep. 34: Farming Equipment on the Road: Common Questions Answered with Barry Thompson and Anthony Lester
• Leader Magazine - AgCredit's monthly newsletter
• AgStart - Financing for the next generation of farmers

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