News – Page 3

Iowa Partition Law

August 8, 2019 By Ron Martin Leave a Comment

Earlier this summer Attorney Ron Martin attended the Iowa State Bar Association’s 2019 Annual Meeting, which included a seminar on the New Iowa Partition Law.

What is Partition Law?

Partition law addresses the issue of joint ownership and co-ownership of properties. In the past, if the joint owners of property could not agree to the “in kind” division of property where one party gets a portion and the other party gets another portion of equal value, Iowa Courts would normally order the property sold and then divide the proceeds among the former joint owners.

One issue with this method of division is that it did not take into account is the strong emotional attachment many farmers have to the land. Often times farmland has been passed down through the family for generations. Because of this, the land has sentimental, cultural, or historic value to the family that would be lost if it was sold. Additionally, one or more family members who have an interest in the farm move to other farm careers leaving one or more family member continuing with the operation. That remaining member wants to continue farming. The forced sale approach can deprive the farming member the opportunity to continue the family farm.

Changes Made in 2018

Iowa made significant changes to the Partition Laws in 2018 to promote the preference for in kind partition and give direction to the courts to help them achieve equitable in kind partitions. The courts now take into consideration that family farms often present special circumstances and sale of the entire property and division of the proceeds should not be a first option.

How We Can Help!

The attorneys of Day Rettig Martin, P.C. are able to work with farmers, business owners, and others to develop estate and succession plans. They are also able to help persons who are experiencing issues with property co-owners, including farm corporations and trusts. The attorneys have experience in agricultural law, real estate, trusts and estates, and family farming corporations. They understand the importance of your family farm. Our attorneys can help you negotiate with your co-owners and represent you in the court. Contact us if you need assistance with dealing with joint ownership issues.

Linn County Fair 4-H and FFA Livestock Auction

August 7, 2019 By Ron Martin Leave a Comment

After the hottest days of summer 2019 so far, the heat finally broke for the Linn County Fair’s 4-H/FFA Livestock Auction on the morning of July 1^st. Day Rettig Martin, P.C. continued its support of young agriculturalists by participating in the livestock auction. Ron Martin made his annual trek to the fair to view the livestock and other fair exhibits. Ron represented the firm at the auction by bidding and purchasing some livestock from the young participants.

All of us here at Day Rettig Martin, P.C. would like to congratulate the young exhibitors and we wish them all the best in their future agricultural and other endeavors.

Multiemployer Pension Plan Withdrawal

May 6, 2019 By Ron Martin

On March 25, 2019, Associate Attorney John Sexton attended a webinar titled “Multiemployer Pension Plan Withdrawal: An In-Depth Examination.” The webinar focused on the evolution of the Multiemployer Pension Plan Amendments Act and strategies for minimizing liability.

The Multiemployer Pension Plan Amendments Act (MPPAA) was enacted in 1980. This Act created withdrawal liability whereby employers withdrawing from multiemployer pension plans must, upon withdrawal from a plan, pay a share of the plan’s unfunded vested benefits. “Withdrawal,” as defined by Title IV of ERISA, can occur through a complete withdrawal or a partial withdrawal. [Read more…]

Disability Claim Regulations

May 1, 2019 By Ron Martin

On March 26, 2019, Associate Attorney John Sexton attended the webinar “DOL Disability Claims Regulations: Effects on Employee Benefit Plans-Best Practices for Plan Sponsors, SPD Modifications, Required Disclosures, Appeals and ERISA Compliance.” The webinar focused on the Department of Labor’s new disability claims regulations.

The “Final Rule,” as represented by 81 Fed. Reg. 92316, was issued on December 19, 2016. The new procedures are effective for claims for disability benefits filed on or after April 1, 2018. These new procedures alter and focus on notice, disclosure, and process. [Read more…]

Working With your Family Farming Corporation

April 24, 2019 By Ron Martin

According to the National Agricultural Statistics Service’s Census of Agriculture, family farms make up almost 95% of the farms in the United States. This high percentage makes sense when you look at the USDA’s definition of a family farm. A family farm is “any farm organized as a sole proprietorship, partnership, or family corporation”. For some of these corporations, large or extended family units must work together to make their operation run smoothly.

Unfortunately, sometimes these family farming corporations do not work out as intended. Attorneys Joe Day and John Sexton are happy to announce that they have successfully settled a family farming dispute. These attorneys represented a shareholder in his derivative capacity in an action involving such a corporation as described above.

The attorneys at Day Rettig Martin, P.C. know the importance of family farms in Iowa. They continue to work to help them in whatever ways they can. Please contact one of our attorneys if you need guidance in setting up a legal entity family farm to assist with its management and passing it on to your heirs in a tax-efficient manner. If you need to enforce your rights in a family farm corporation or other legal entity the attorneys at Day Rettig Martin can help you.

Source: https://nifa.usda.gov/family-farms

Working with the Railroad and Your Farm

April 15, 2019 By Ron Martin

There are currently 3,931 miles of railroad track in Iowa, and, according to the 2012 Census, 30,622,731 acres of farmland in Iowa. With farmland making up over 85% of Iowa’s land, it is inevitable that railroads will run through farmland. In most instances, the railroad right-of-way belongs to the railroad company while the adjacent farmland is owned by other persons or entities including family farmers.

If a railroad right-of-way runs through your property, it is important to review your deed for provisions concerning the railroad right-of-way. Unless set forth in the deed, other recorded document, or in a statute, the railroad company does not have greater rights than any other person to enter upon your farmland, pass over it, or use it.

If you have a rail line going through your property, and have questions about your property rights, call attorneys Ron Martin or Mark Rettig at Day Rettig Martin, P.C.

Sources: https://www.american-rails.com/ia.html https://www.farmlandinfo.org/statistics/iowa

Costly Commas

March 20, 2019 By Ron Martin

For many editing and revising are tedious tasks, and people often throw in commas as afterthoughts. However, many disputes stem from interpretation of contracts and laws. As a result, proper punctuation becomes an important aspect of contract writing.

Grammar mistakes in laws caused problems for the United States dating back to 1872 when a misplaced comma, a simple mistake by a typist, cost the United States the modern equivalent of $40 million dollars. The 13^th Tariff Act in 1872 accidentally replaced a hyphen with a comma. This cost the United States tax revenue on imported fruits such as bananas, limes, pineapples, lemons, and oranges. It took almost 2 whole years to remedy this mistake, which cost the U.S. 1.3% of its total tariff profits.

In 1872 an extra comma cost roughly $40 million dollars, and more recently a missing comma cost a dairy company $5 million dollars. Many may think the use of an Oxford Comma depends on an author’s style, but the lack of one led to a dairy company in Maine paying four years of overtime pay to their truck drivers.

Proper punctuation can be tedious to figure out, and in the law so much is left up to interpretation that it is important to have all your commas in their proper places. This makes contract drafting a stressful endeavor. Let the attorneys at Day Rettig Martin, P.C. figure out the punctuation for you.

Sources: Tariff Acts Passed by the Congress of the United States from 1789 to 1897; Christina Sterbenz “This Comma Cost America About $40 Million” in Business Insider; Daniel Victor “Oxford Comma Dispute Is Settled as Maine Drivers Get $5 Million” in The New York Times; Chris Stokel-Walker “The Commas That Cost” in BBC

Day Rettig Martin, P.C. Attends the 33rd Annual Celebration of Agriculture

March 20, 2019 By Ron Martin Leave a Comment

The lawyers and staff at Day Rettig Martin, P.C. enjoyed the 33^rd Annual Celebration of Agriculture on March 18, 2019. Keynote speaker Tyne Morgan spoke about the future of farming, in addition to the revival of bacon. This year the Celebration of Agriculture raised over $4,000 for HACAP Food Reservoir. All of us at Day Rettig Martin, P.C. were glad to be able to contribute to that worthy cause.

Attorney Ron Martin focuses his career on helping Iowa Family Farmers. Therefore he attends events such as this to help him remain connected with the local farming community. If you have questions about financial matters, bankruptcy, or the future of your farm, come to the law firm with experience in agriculture law.

Attorney Ron Martin Attends the 2018 Farm Progress Show

February 18, 2019 By Ron Martin Leave a Comment

Attorney Ron Martin attended the 2018 Farm Progress Show in Boone, Iowa. This show allowed Ron to see firsthand much of the newest farming equipment. The modern “Draper Head” for combines and seed tenders such as the Seed Chariot pictured here caught his interest. The all-wheel drive tractor pictured is a far cry from the Farmall Super M that Ron operated in high school.

The information that he obtained at the Farm Progress Show provides him with the practical perspective needed when working with agri-business people.

Day Rettig Martin, P.C. Returns to the Linn County Fair to Support Young 4-H and FFA Agriculturalists

February 18, 2019 By Ron Martin Leave a Comment

In 2018, Attorney Ron Martin continued his tradition of attending the Linn County 4-H and FFA Livestock Auctions as a representative of Day Rettig Martin, P.C. Ron grew up on an Iowa Farm and participated in 4-H and FFA programs himself in his youth. He knows firsthand how important the buyers’ contributions are to these programs. Because of this he attends these auctions to show the Law Firm’s support. The attorneys at Day Rettig Martin, P.C. proudly promote the next generation of Iowa Farmers that participated in the Linn County 4-H and FFA Fair. Pictured are some of the livestock bid on by Attorney Ron Martin in support of his community.

Ron also uses his life experiences in his practice; he represents farmers and agricultural businesses in need of assistance with their legal needs.