Farris Law Firm, LLC – Equine Insurance Specialists

Complying With Duties Under Mortality Insurance Policies

By Julie I. Fershtman, Esq.Posted on December 20, 2017Posted in Farris Law Firm, LLC, Mortality InsuranceNo Comments

Occasionally, the one who buys a policy of mortality insurance (called the policyholder) and the insurance company disagree on the issue of whether the company is required to pay a request for benefits (called a “claim”). People usually learn after it is too late that many of these problems and disputes could have been avoided.[…]

Volunteers Enjoy New Protection

By Michael Beethe, Esq.Posted on December 20, 2017Posted in Farris Law Firm, LLC, Legal (Miscellaneous)No Comments

Most horse organizations depend heavily on volunteer support. Whether it is a national breed organization, local 4-H club or trail riding group, volunteers are key to the organization’s existence and success. Yet a recent Congressional study revealed that volunteerism was steadily declining. The cause? A smattering of lawsuits against volunteers and the resulting spotlight on[…]

Stallion Syndication: A Worthwhile Structure for the High Dollar Horse!

By Denise Farris, Esq.Posted on December 20, 2017Posted in Farris Law Firm, LLC, Legal (Miscellaneous), Mortality InsuranceNo Comments

Are you interested in owning that high-dollar breeding stallion but just can’t quite justify the initial investment? Although you own a few nice mares, do you wonder how you will secure the remaining thirty to forty additional breedings necessary to recoup costs in an average season? Do you know other business associates who have expressed[…]

Tax Exempt Organizations Can Pay Tax

By Denise Farris, Esq.Posted on December 20, 2017Posted in Farris Law Firm, LLC, Legal (Miscellaneous)No Comments

Many tax-exempt organizations assume that their tax-exempt status eliminates the potential for tax on all forms of income they may generate. Exempt organizations beware. Activities you are involved in may be identified by the Internal Revenue Service as unrelated business taxable income (UBTI) which is subject to tax.

Disclosure Requirements in a Horse Sale

By Denise Farris, Esq.Posted on December 20, 2017Posted in Farris Law Firm, LLC, Legal (Miscellaneous), Mortality Insurance, Waivers & Contracts1 Comment

Horses sell every day, but when it comes right down to it, most people involved in a horse sale are not exactly sure what facts the seller must disclose. The law creates a fine line between a seller’s duty to disclose and a seller’s right to remain silent. The general rules are summarized as follows:

Powerful Tools for Fee Collection For Trainers and Stable Owners

By Michael Beethe, Esq.Posted on December 20, 2017Posted in Farm Insurance, Farris Law Firm, LLC, Legal (Miscellaneous), Liability Insurance, Waivers & ContractsNo Comments

As an owner of training and boarding facilities, you face collection problems just like all business people. Unlike standard business debt, which remains fixed and liquidated, you face accruing maintenance costs for feeding and boarding the animal until the dispute is resolved. Your proactive use of the agister’s lien or contractual security interest gives you[…]

Equine Activity Liability Statutes What Do They Protect?

By Michael Beethe, Esq.Posted on December 20, 2017Posted in Farm Insurance, Farris Law Firm, LLC, Legal (Miscellaneous), Liability Insurance, Waivers & ContractsNo Comments

The 1990’s witnessed a revolution in the laws regarding liability of horsemen for equine-related injuries. As of December, 1997, 40 states have enacted equine activity liability laws. State legislatures created these laws in order to limit the liability of equine professionals and activity sponsors from participant injuries resulting from the “inherent risks” of equine activities.

“So Sue Me . . .” (Just Hope My Liability Waiver Is Working)

By Denise Farris, Esq.Posted on December 20, 2017Posted in Farm Insurance, Farris Law Firm, LLC, Legal (Miscellaneous), Liability Insurance, Waivers & ContractsNo Comments

I can’t tell you how many times I’ve heard a stable owner tell me “They won’t sue me. They signed a liability waiver”. This statement reflects a misconception prevalent in the horse industry – that a liability waiver will prevent lawsuits from being filed. Nothing could be further from the truth. In fact, many stable[…]