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a 7,771.88 acre tract in McIntosh County, Georgia (McIntosh
County Farm). The Putnam County Farm was purchased on January 6,
1995, for $1,945,038, and contained merchantable timber valued at
$140,451 as of the time of purchase. The McIntosh County Farm
was purchased on June 23, 1995, and contained no merchantable
timber as of that date.
Formation of Treeco, LLC, and Gifting of Interests Therein
A.J. Hackl determined that the tree farming operations
should be conducted by a separate business entity (1) to shield
his assets not related to the tree farming business from
potential liability associated with that business, (2) to create
a separate enterprise in which family members could participate,
and (3) to facilitate the transfer of ownership interests in the
tree farming business to his children, their spouses, and his
grandchildren. Accordingly, A.J. Hackl executed Articles of
Organization creating Treeco, LLC, and on October 6, 1995, such
articles were filed with the Office of the Indiana Secretary of
State. As a result, Treeco was duly and validly organized as a
limited liability company (LLC) under the Indiana Business
Flexibility Act. The LLC format was selected by A.J. Hackl to
obtain liability protection for members, to provide protection of
assets inside the LLC from members’ creditors, to provide pass-
through income tax treatment, and to provide for centralized
management for the operation of the family tree farming business.
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Last modified: May 25, 2011