Under Minnesota law, there are multiple instances where liens can attach to a borrower’s livestock or crops that will result in priority over a financial institution’s first-in-time perfected security interest in the same livestock (Minn. Stat. § 514.966) or crops (Minn. Stat. § 514.94). These types of liens are often referred to as “hidden” liens...

As technology evolves, industries are finding new, creative ways to leverage technology to increase efficiency. Unmanned aerial vehicles, otherwise referred to as “drones,” are a perfect example of a technological advancement that has enhanced many industries. One industry in particular that has benefited from the use of drones is the agricultural industry. Farmers are currently...

An irrevocable life insurance trust (“ILIT”) is exactly as it sounds. It is an irrevocable trust designed to hold one or more life insurance policies. A properly drafted ILIT provides the owner of a life insurance policy with several estate planning benefits, including estate tax avoidance and liquidity for estate tax obligations. An ILIT is...