https://www.andersohnlaw.com/blog daily 0.75 2020-04-20 https://www.andersohnlaw.com/blog/blog-post-two-e4j6m monthly 0.5 2020-04-01 https://www.andersohnlaw.com/blog/blog-post-three-k8anf monthly 0.5 2020-04-01 https://www.andersohnlaw.com/blog/blog-post-four-nba9w monthly 0.5 2020-04-01 https://www.andersohnlaw.com/blog/blog-post-one-mgbla monthly 0.5 2020-04-01 https://www.andersohnlaw.com/blog/legal-update-new-year-2016 monthly 0.5 2020-04-01 https://www.andersohnlaw.com/blog/legal-update-new-year-2015 monthly 0.5 2020-04-01 https://www.andersohnlaw.com/blog/legal-update-covid-19 monthly 0.5 2020-04-06 https://www.andersohnlaw.com/home daily 1.0 2020-05-01 https://static1.squarespace.com/static/5e65b4dd6ef4340ad7f475c3/t/5e8381689dda8b254aebd7fc/1585676717564/Nate_Andersohn.jpg Home https://static1.squarespace.com/static/5e65b4dd6ef4340ad7f475c3/t/5e8a8ce7bdeecc11b78d7d53/1586138362416/benjamin-child-GWe0dlVD9e0-unsplash.jpg Home https://static1.squarespace.com/static/5e65b4dd6ef4340ad7f475c3/t/5e8a8cad06e7117ae53428e0/1586138301745/guillaume-techer-XvNPUh6fWVk-unsplash.jpg Home https://static1.squarespace.com/static/5e65b4dd6ef4340ad7f475c3/t/5e8a8cc7e8170a5ffa413ed4/1586138375153/sean-pollock-PhYq704ffdA-unsplash.jpg Home https://static1.squarespace.com/static/5e65b4dd6ef4340ad7f475c3/t/5e8a8d6ad7a6d83f2f239e75/1586138529268/Large+JPG-20140228_Trade+151_0046.jpg Home https://static1.squarespace.com/static/5e65b4dd6ef4340ad7f475c3/t/5e8a8d5505fde74b6f72b490/1586138559180/a-north-dakota-pump-jack.jpg Home https://static1.squarespace.com/static/5e65b4dd6ef4340ad7f475c3/t/5e8a8d8079e6836f5fd3d34a/1586138523818/nicole-geri-mGXY1xE_dVE-unsplash.jpg Home https://www.andersohnlaw.com/about daily 0.75 2020-04-28 https://static1.squarespace.com/static/5e65b4dd6ef4340ad7f475c3/t/5e83a04df27ae066e0034b30/1585712145425/Nate_Andersohn.jpg About https://www.andersohnlaw.com/contact-us daily 0.75 2020-04-28 https://www.andersohnlaw.com/oilandgas daily 0.75 2020-04-20 https://static1.squarespace.com/static/5e65b4dd6ef4340ad7f475c3/t/5e8aa00c05fde74b6f755d81/1586143250951/a-north-dakota-pump-jack.jpg Oil and Gas - Oil and Gas These are interesting times in the oil business. The discovery of the Niobrara Formation has resulted in millions of dollars in lease payments to land owners in Weld County. Nathan L. Andersohn, Esq. worked as a landman in the early 1980s and is knowledgeable in the industry. His primary focus is representing land owners in negotiations with oil companies for oil and gas leases, pipeline easements, and surface use agreements. It is rare that a landowner would be advised to accept the first offer for an oil and gas lease. When a farmer or rancher signs an oil and gas lease, they may well be giving up rights to surface use of their land in perpetuity. An owner needs a well-crafted lease that protects farming and ranching activities, residential homes, and other conflicting uses that could be impacted by oil and gas exploration and production. The best time to address these issues is in the initial lease and not in the courts after conflicts arise. The same can be said about pipeline easements and surface use agreements. Oil companies can be excellent financial partners. However, it is wise to seek legal advice before entering into the long term relationship that will occur if oil and gas production occurs on your property. https://www.andersohnlaw.com/realestate daily 0.75 2020-04-20 https://static1.squarespace.com/static/5e65b4dd6ef4340ad7f475c3/t/5e8a9aeb85dd3a1f81b049ab/1586142809944/e-s-25vKnlXquKw-unsplash.jpg Real Estate - Adverse Possession If a person has possession of real property for 18 years; said possession is hostile, adverse, under a claim of right, exclusive, and uninterrupted; and the person has a good faith belief that he or she is the actual owner; an action may be filed to establish ownership of the property. https://static1.squarespace.com/static/5e65b4dd6ef4340ad7f475c3/t/5e8a998f85dd3a1f81b00273/1586142809941/federico-respini-sYffw0LNr7s-unsplash.jpg Real Estate - Quiet Title Actions 1. Treasurer’s Deed: If a person obtains title to a property through the tax sale process in Colorado and wants to sell the property, the owner must file a quiet title action. A lawsuit must be filed, but the process may be fairly routine; however, notice must be given to all parties with a technical interest in the property. If it is contested, like any litigation, it will be expensive and take a long time to complete. 2. Ownership Dispute: If two or more parties have a dispute over ownership of a parcel of land, it is necessary to file a quiet tile action. In such a dispute, it is likely to go through discovery and trial. https://static1.squarespace.com/static/5e65b4dd6ef4340ad7f475c3/t/5e8a9a278c5a9226d7f5d7cd/1586142821297/artur-aldyrkhanov-vgs4O6AsVx0-unsplash.jpg Real Estate - Easements 1. Voluntary: An easement to cross property 1 for access to property 2 may be granted by any landowner. The easement must be carefully drafted by the party granting it and should be scrutinized by the party it is benefitting to make sure it is adequate based on the circumstances and desires of the parties. 2. Adverse: A prescriptive easement may be acquired through litigation when a party has used an access road for over 18 years and the use is open and notorious. https://static1.squarespace.com/static/5e65b4dd6ef4340ad7f475c3/t/5e8a9acc9355142d1eaf29a9/1586142821300/vidar-nordli-mathisen-nGA6aQebrLw-unsplash.jpg Real Estate - Boundary Issues If a party builds a road, fence, or building on your property, act quickly as the party in error could obtain ownership rights to your property after 18 years. Some case law suggests that if a person builds a home or structure that encroaches on another’s land in error, the injured landowner may only be able to recover the fair market value of the land under the structure. A landowner should always consider obtaining a survey of any real property owned and fence rural property. It is hard to know if someone is encroaching or trespassing on your land if you don’t know your boundary. A survey and a fence are much cheaper than litigation. https://www.andersohnlaw.com/agriculturalandranchingrecreation daily 0.75 2020-04-20 https://static1.squarespace.com/static/5e65b4dd6ef4340ad7f475c3/t/5e8aa5517de63058bf5603a4/1587346129250/meric-tuna-CE1OvMrZumQ-unsplash.jpg Agricultural | Ranching | Recreation - Agricultural | Ranching Farm & Ranching Purchase, Sale, and Leases Easement and Access Dispute https://static1.squarespace.com/static/5e65b4dd6ef4340ad7f475c3/t/5e9cfbf56ff3c35bdd108e16/1587346439844/robson-hatsukami-morgan-qr7tsSwDOg0-unsplash.jpg Agricultural | Ranching | Recreation - Outdoor Recreation Nathan L. Andersohn, Esq. has been heavily involved in fishing and archery his entire life. He has bowhunted on four continents and represents several national 501(c)(3) nonprofit hunting organizations, outfitters, dude ranches, guides, taxidermists, and hunting clothing and equipment manufacturers and retailers. Businesses in the hunting and fishing industry have very specific issues that only a lawyer with a personal knowledge of the outdoor world can address. https://static1.squarespace.com/static/5e65b4dd6ef4340ad7f475c3/t/5e8aa5669b6208253a8af1c0/1587346129255/federico-respini-sYffw0LNr7s-unsplash+%281%29.jpg Agricultural | Ranching | Recreation - Jointly Owned Properties Several generations of family members or six college friends may want to share the benefits and responsibilities of owning a ranch, fishing cabin, or ski condo. There are several ownership options depending on the needs of the group. Often times, it is best to own real estate in a limited liability company. However, it may be advisable for the parties to enter into a co-ownership agreement. The agreement may be very extensive, covering most of the issues set forth above under Hunting Clubs. Co-ownership agreements streamline a lot of ownership and income tax issues. Co-ownership agreements can work extremely well for ski condos and mountain cabins. https://static1.squarespace.com/static/5e65b4dd6ef4340ad7f475c3/t/5e8aa5a39355142d1eb08abe/1587346129258/bence-balla-schottner-RhRv9jfdUbI-unsplash.jpg Agricultural | Ranching | Recreation - Ownership Issues Owners must consider how the property will affect their estate planning and review potential liability issues. As with any rural property, legal advice may be needed on oil & gas leases, wind rights, gravel & mineral rights, pipeline easements, farming, grazing, and hunting leases. https://www.andersohnlaw.com/estate-planning-and-administration daily 0.75 2020-04-28 https://static1.squarespace.com/static/5e65b4dd6ef4340ad7f475c3/t/5e8aa1ddfcc46f5d0936bb84/1586144081496/melinda-gimpel-9_2GVskimEg-unsplash.jpg Estate Planning and Administration - Probate Many people have the misconception that if they have a will, revocable trust, are married, or own property jointly that they will not have to go through probate. Whose estates have to be probated? a. Any person that dies owning real estate in their sole name or in tenancy in common must go through probate. b. If a person owns assets (non-real estate) valued over $70,000.00 (2020), said assets must be probated. c. A person with a revocable trust, who has assets that were not transferred into the trust, with a value in excess of $70,000.00 must probate those assets. Stated another way, whose estates don’t have to be probated? a. A person whose assets (bank accounts, real estate, automobiles, and brokerage accounts) are all owned in joint tenancy with a right of survivorship, do not have to go through probate. b. A person with non-real estate assets worth less than $70,000.00. Should probate be avoided? Many people believe probate should be avoided at all costs because of the misconception that a probate attorney will receive a percentage of the estate as his or her fee. In Colorado, the majority of attorneys charge an hourly fee to probate estates. A middle class couple in a long term marriage can avoid probate of the first spouse to die by owning all of their assets in joint tenancy. Some clients are concerned that if their estates are probated that their assets will be disclosed to the public. This is not a valid concern as probate actions filed in the court system are not accessible by the general public. The benefits of probate: The primary benefit of going through the probate process is to have a person that you absolutely trust (a spouse, child, or professional) make sure that your assets are transferred exactly as you state in your will, with complete disclosure to all beneficiaries (per an inventory and final accounting) and to allow your beneficiaries the opportunity to give a court notice if something is not handled correctly. An attorney’s obligation is to assist the personal representative (sometimes referred to as the executor) to probate the assets per the terms of the decedent’s will in accordance with Colorado law. A tax benefit of having assets pass through probate to the next generation is that the beneficiaries will receive a stepped up basis equal to fair market value at the date of death. This means that if you bought IBM stock for $10,000.00 and it is worth $30,000.00 when you pass away, your children could sell the stock immediately after your death and not pay any income tax. If you gifted the stock to your children prior to your death, they would have to pay income tax on the $20,000.00 gain if they sold it immediately. https://static1.squarespace.com/static/5e65b4dd6ef4340ad7f475c3/t/5e8aa288e83f5a00467a2d20/1586144081493/evelyn-paris-XJnP4L958ds-unsplash.jpg Estate Planning and Administration - Estate Planning The majority of people would like to make sure that their life savings, investments and home are transferred to their family members. Some of the best reasons to have an estate plan and meet with an experienced attorney are as follows: Pick the person that will handle your affairs upon your death or disability. Discuss the potential for probating estates in multiple state courts. That farm land in Kansas or condo in Arizona may trigger a second probate, costing thousands of dollars. With today’s high divorce rate, it is very common to divide assets between two sets of children. A lot of people are unmarried, and there is not a “standard way” to leave assets to family and friends. Some give assets to their nieces, nephews, charities, significant others, needy relatives, or a combination of all of the above. People getting married late in life really need to assess the benefit of prenuptial agreements, and a will or a revocable trust. Andersohn Law Office, PC can advise you on all these issues and draft a will that will accomplish them! We can also prepare a living will, or advance medical directive, that ensures that your medical team knows what type of care you want if you become incapacitated. We help you make those hard end of life decisions so you don’t leave them to your loved ones to face for you. Power of Attorney: The odds are nearly 100% that at some point before your death you will need assistance to manage your financial, business, medical, and personal affairs. A power of attorney allows you to pick the persons to assist you. In these times of technology, who will access and maintain your digital assets and digital devices in your time of incapacity? With the medical impact of HIPAA, you need a power of attorney. We can prepare the documents that will allow your loved ones to assist with your care, without overruling your personal choices about your end of life decisions. https://static1.squarespace.com/static/5e65b4dd6ef4340ad7f475c3/t/5e8aa24ba6d99b3f78e95665/1586144081502/wesley-tingey-9z9fxr_7Z-k-unsplash.jpg Estate Planning and Administration - Estate Administration - Part II The Process The original will is submitted to the appropriate court with a Petition Order, Letters, and other documents to open the probate action. Well over 90% of all probates are opened as informal and unsupervised actions. Real property and personal property of the deceased are not tied up in probate long-term. In fact, many properties are sold promptly after the probate is opened. If the deceased did not have a will an Application for Informal Appointment of Personal Representative is filed along with other documents to open probate. The assets are then distributed to heirs per Colorado Statutes. Andersohn Law Office, PC will assist the personal representative in completing all acts necessary to complete the probate process. A middle-class estate in which family members are not in conflict may often times be completed in a little over six months. The Initial Meeting At the initial meeting, the client should bring the original will/trust (if available), a copy of the death certificate (if it has been received) and a summary of all assets, including insurance, real estate, motor vehicles, pensions, stock assets, IRA’s, 401k’s, bank accounts, and interest in any business or investments. If possible, it would be good to bring documentation of the assets (i.e. deeds, car titles, last bank statement, etc) however, there will be plenty of time to assemble that information after the initial meeting. An attorney will also need a list of the names, phone numbers, and addresses of all people that will inherit the assets from the decedent. Probate Litigation Fiduciaries in Colorado have many obligations to heirs and beneficiaries of wills and trusts. The statutory requirements and deadlines must be strictly followed. If a beneficiary or heir discovers any impropriety in a fiduciary’s handling of the affairs of an estate it may be necessary to file a legal action to protect the assets and rights of family members. It is best to seek legal advice as soon as possible before assets are distributed. The Andersohn Law Office, PC represents clients in probate litigation. https://static1.squarespace.com/static/5e65b4dd6ef4340ad7f475c3/t/5e8aa207e83f5a00467a195f/1586144081499/helloquence-OQMZwNd3ThU-unsplash+%281%29.jpg Estate Planning and Administration - Estate Administration - Part I Probate doesn’t have to be stressful – hire experience! The death of a spouse or parent is an extremely emotional time. Since 1987, Nathan L. Andersohn, Esq. has been helping clients get through this difficult period in their lives. The process of contacting an attorney and handling the financial affairs as set forth in the decedent’s will/trust or by state statute (if no will is found) doesn’t have to add to the stressful situation. Mr. Andersohn’s education and experience in accounting, law, and real estate is tailor made for a probate lawyer. After nearly three decades of reviewing financial statements, attending real estate closings, litigating estate disputes, filing insurance claims, and reviewing creditors’ claims, he is fully prepared to handle your estate. The initial benefits of meeting with an attorney experienced in probate administration include receiving answers to basic questions concerning Colorado law, discussing the timeline for the process, and receiving an estimate of attorney’s fees to complete the process. https://www.andersohnlaw.com/mechanicsliens daily 0.75 2020-04-28 https://static1.squarespace.com/static/5e65b4dd6ef4340ad7f475c3/t/5e8a9521138b9761efc5704a/1586141151565/scott-blake-x-ghf9LjrVg-unsplash.jpg Mechanics_Liens - Commercial Buildings A supplier of materials or subcontractor must file a mechanics’ lien within 4 months after its last delivery of materials or work performed is made to a project. To determine the date of last delivery, you must inspect the sales order or labor records and not rely on the invoice date, as the information may have been input several days after actual date of the work on the job. In order to file a valid mechanics’ lien, a Notice of Intent must first be filed (ten days prior to recording Statement of Lien), so it is important that you provide your lawyer with the necessary information, at the latest, 110 days after the date of the last delivery of materials or work performed. A mechanics’ lien is not the final action and does not guarantee payment. A mechanics’ lien must be foreclosed on in the District Court not later than 6 months from your last work or 6 months from completion, whichever is later. Lawyers do not automatically foreclose on liens without instructions from a client. https://static1.squarespace.com/static/5e65b4dd6ef4340ad7f475c3/t/5e8a946e05fde74b6f73c903/1586141151562/yancy-min-EzSyFRfNP_c-unsplash.jpg Mechanics_Liens - Private Construction A materialman or contractor may lien a construction project for all materials and labor which are incorporated into improvements on the land. Lienable items do not include most tools, gloves, and other items which are not consumed on the job. In order to file a mechanics’ lien against any project, a claimant must generally prove completion of work and materials supplied to the site. This is usually done by producing invoices and contracts showing the specific address of the job site where the work was performed or the materials were delivered. The amount of a mechanics’ lien must be very accurately stated, which means that all credits and partial payments must be taken into account to calculate the amount due. To prepare a Statement of Lien, a lawyer needs to know the name of the owner and general contractor. Any information a client can provide saves time. Beware: a mechanics’ lien that overstates the amount owed may be deemed invalid by the Court. https://static1.squarespace.com/static/5e65b4dd6ef4340ad7f475c3/t/5e8a95bb5803e9387ff7ad86/1586141151571/melinda-gimpel-9j8k3l9afkc-unsplash.jpg Mechanics_Liens - Bankruptcy/Business Failures If a claimant receives notice that its customer filed bankruptcy, it is very important to turn over to your attorney all invoices for goods supplied to that customer so that all work can be immediately liened. A mechanics’ lien secures the claim and allows a claimant to get paid even when the unsecured creditors do not get paid. https://static1.squarespace.com/static/5e65b4dd6ef4340ad7f475c3/t/5e90e6efff1e4a2bdf7dad76/1586554642229/avel-chuklanov-IB0VA6VdqBw-unsplash.jpg Mechanics_Liens - Single Family Residences Colorado law imposes restrictions on liening single-family homes which are the primary residence of the person who paid to have the home remodeled or built. The law protects homeowners who have paid their contractors in full for the work performed against subsequent liens by suppliers or sub-contractors. Since many homes may be completed soon after a supplier provides drywall, millwork or roofing materials, this information should be supplied to your attorney within at least 75 days from the date of delivery. It is recommended that you carefully monitor your accounts that do residential remodeling and roofing. https://static1.squarespace.com/static/5e65b4dd6ef4340ad7f475c3/t/5e8a96688c5a9226d7f554ac/1586141151577/darren-halstead-sT50jo9LCH0-unsplash.jpg Mechanics_Liens - Federal Construction Projects Under the Federal Miller Act, a claimant who furnished labor or materials to a subcontractor must give written notice to the principal contractor of the amounts due and owing within 90 days from the last date of delivery of materials or work performed. Contractors who deal directly with the principal contractor do not have to give notice. Action against the bonding company must be filed within one year (generally) of the last work performed on the project. https://static1.squarespace.com/static/5e65b4dd6ef4340ad7f475c3/t/5e90e7f4baf32d59dcde792f/1586554887739/michael-hart-t6Hd6ONYGrk-unsplash.jpg Mechanics_Liens - State, County, and Municipal Public Works Bond Claims A claimant may not file a general mechanics’ lien against government-owned projects. Instead, a claimant must file a verified claim with the government and/or sue the bonding company for the amount due. Verified claims should be filed before the advertised settlement date of the project. This date can be obtained from the contract officer working on the project for the public entity. As a general rule, information concerning past due accounts for labor or goods supplied to government jobs should be supplied to your attorney the sooner of 60 days after last invoice or 30 days before the date of completion. The government entity must be sued within 90 days of the advertised settlement date. Claims against the bonding company must be filed, as stated in the bond; it is usually within 6 months after completion of the work. https://www.andersohnlaw.com/business daily 0.75 2020-04-20 https://static1.squarespace.com/static/5e65b4dd6ef4340ad7f475c3/t/5e8a9d90a75db6765239a41d/1586142634507/helloquence-OQMZwNd3ThU-unsplash.jpg Business - Contract Disputes The majority of contract litigation involves the interpretation of oral and written agreements. As would be expected, oral agreements are extremely difficult to interpret and enforce. A well drafted invoice, credit agreement, employment agreement, buy-sell agreement, etc. will usually contain language related to venue for disputes, interest on funds owed, mediation clauses and attorneys fee provisions. It is obvious that the first step any individual or entity should take is to have properly drafted documents that anticipate disputes. Chances are that a “standard document” will have many issues if litigation occurs. The Andersohn Law Office has handled litigation related to commercial claims and individuals who have needed to enforce a contract. https://static1.squarespace.com/static/5e65b4dd6ef4340ad7f475c3/t/5e8a9de1138b9761efc691a5/1586142699536/trent-erwin-UgA3Xvi3SkA-unsplash.jpg Business - Incorporation of a New Business Establishing a business entity for a new or existing enterprise is a major step in establishing a foundation for the future. Why Incorporate? One of the greatest benefits of incorporation is it limits liability for the owners. The debt or liabilities of a corporation should not expose the business owner’s personal assets to liability. When starting a business always consider the following: Incorporate or form a limited liability company to protect your personal assets. If you have a business partner, always have a buy-sell agreement to resolve up-front what happens if a business partner becomes disabled, retires, dies, or wants to sell his or her interest. Always watch the money. Sign your own checks and review quarterly and annual financial statements. Hire an independent CPA to complete income tax returns and prepare annual financial statements. https://static1.squarespace.com/static/5e65b4dd6ef4340ad7f475c3/t/5e8a9e299355142d1eafa6a0/1586142776937/drew-beamer-Se7vVKzYxTI-unsplash.jpg Business - Sale or Purchase of a Business - Part II Issues of Importance for buyers: Disclosures of financial information and tax returns Non-Compete agreement to be signed by the seller Purchase/leasing of business location Retention of employees No liability for debts incurred by the business prior to the purchase Obtaining the business name, phone numbers, websites, and customer lists Training by the seller Issues that are of mutual concern: Allocation of the purchase price to various assets Preservation of jobs for valued employees Transitioning of customer base Payment of employment, personal property and income taxes Assignment of leases Franchise Agreement / Restrictions / First Rights of Refusal The controlling document of a sale or purchase of a business is a detailed contract that must be carefully drafted. A lawyer cannot represent both the buyer and seller. A client should never rush into a deal before consulting legal counsel. Most transactions will be Asset Purchase Agreements for small to medium sized businesses. Some will involve the purchase of stock of an existing entity. The parties need to seek the counsel of CPAs and attorneys to determine the most advantageous way to transfer a business. A business sale that involves financing real property or franchise agreements will require additional drafting to address issues related to the assets being transferred and contingencies of the purchase. Any business transfer has dozens of issues including retention of employees, tax basis of assets, assignment of leases and the disclosure to employees and the public. The general rule is that a seller who carries a portion of a purchase price will receive a higher sale price, but will also run a much higher chance of seller default and litigation. Money spent negotiating a contract that is well thought out and covers every issue is always beneficial. https://static1.squarespace.com/static/5e65b4dd6ef4340ad7f475c3/t/5e8a9e04842fcc315cca56e7/1586142733726/danielle-macinnes-IuLgi9PWETU-unsplash.jpg Business - Sale or Purchase of a Business - Part I An experienced lawyer can assist you in structuring a sales agreement that maximizes your return and protects you from liability after the sale. Never sign a letter of intent prior to consulting an attorney. Many business owners are approached by a prospective buyer who offers a “simple” letter of intent setting forward some “basic” terms. The buyer will suggest that the details will be worked out later and set forth in a formal purchase agreement. The danger is that, depending on the language in the letter of intent, the seller may have unknowingly signed a binding contract. Never sign a letter of intent without consulting an attorney. If either or both the buyer and seller utilize the services of a business broker both parties still need the services of separate attorneys. The issues that are of primary importance to a seller of a business are usually: Non-Disclosure agreement to be signed by the buyer Receiving the purchase price at closing No future liability for the business Release from existing lease Compensation for future services Whether or not the buyer is financially qualified to purchase the business https://www.andersohnlaw.com/hunting-clubs daily 0.75 2020-04-20 https://static1.squarespace.com/static/5e65b4dd6ef4340ad7f475c3/t/5e9cfcadc8159d101860a752/1587346636146/josiah-ness-M3aDKpzcl8g-unsplash.jpg Hunting Clubs - Hunting Clubs Andersohn Law Office, PC advises clients on the following issues: Choice of entity for ownership by multiple parties is very important. Provisions need to be made for death of members, first rights of refusal, and restrictions on lifetime transfers of ownership interests. Management of hunting, insurance, taxes, capital contributions, loans, and farming need to be addressed in the organizational documents.