Best thing to do is consult a lawyer. Having said that I would incorporate the farm as a business (if not already done) and isolate assets such as the house and personal vehicles outside the business. Go as far as having the house and the lot it sits on surveyed and deeded away from the farm and its buildings. Worst thing to do is be stubborn and not do a thing because "you should'nt have to bend" or "I'll kick their tail" if somebody tries to take something in a lawsuit. Neither strategy works when things wind up in court. Not fool proof anymore as the lawyers have gotten better at breaking down the barriers between personal assets and business assets. I don't hear the praises sung about LLC's like there used to be.
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Today's Featured Article - History of the Cockshutt Tractor - by Danny Bowes (Dsl). The son of a very successful Toronto and Brantford, Ontario merchant, and himself quite an entreprenuer, James G. Cockshutt opened a business called the Brantford Plow Works in 1877. In 1882, the business was incorporated to become the Cockshutt Plow Company. Along with quality built equipment, expedious demand and expansion made Cockshutt Plow Works the leader in the tillage tools sector of the farm equipment industry by the 1920's.
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