Corporations and other legal entities (such as partnerships, trusts, wills, etc.) are nothing more than tools which are used to accomplish goals and solve problems. This paper will first examine some of the legal and financial problems confronting farmers and ranchers and then set forth the way in which a corporation can be used to accomplish those goals and help solve those problems. I. SPECIAL PROBLEMS OF FARMS AND RANCHES. A. Owner's Death can be a Devastating Economic Burden. Farms and

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... es have certain characteristics which can create a "capital crisis" on the death of the farmer or rancher. First, farm firms have historically attempted to exploit the economies of size and new technology which require large amounts of capital. This is evidenced by the expanding size of farms, the increased complexity and expense of machinery and the increased sophistication involving the usage of fertilizer, herbicides, seed, irrigation, livestock and tillage methods. Second, not only are the capital investments increasing, these capital investments are usually non-liquid and not readily marketable apart from the unit with which they are combined.