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Farming Forward
Family and Farming
family succession and planning for the future? just wondering how many of you find this a positive experience and have any tips and advice for others?
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<blockquote data-quote="Agri Historian" data-source="post: 7700987" data-attributes="member: 159275"><p>Slightly different experience for a friend of mine.</p><p></p><p>Family farm, 2 sons, 1 daughter. </p><p></p><p>Eldest son excels at school, goes to University, does non-agri related subject. Gets a city job 'for a few years' as the father is still young and fit to run the farm.</p><p></p><p>Second son (my friend) stays at home. Gets stuck into the farm, the business grows. More land is bought, more cows milked, better equipment etc. </p><p></p><p>Years pass. The eldest son is living a good life in the city; married, bought a home in the city, kids going to city school. Has barely done a days work on the farm in years. </p><p></p><p>The second son is getting married. Goes to ask dad about getting a site on the farm to build a house. Dad is not keen and states 'we will need to run this by your older brother'. It transpires that the older brother is to inherit everything, as it is is 'birth right' as the eldest son.</p><p></p><p>The news of a site for younger brother sparks older brothers interest. He isn't keen on handing over any of the good sites, 'in case he needs it one day'. He offers a site on the periphery of the farm. </p><p></p><p>Second son sees the light and is off the farm within 6 weeks. He left with nothing, as he wasn't a partner and his vehicle was owned by the farm. So were most of his tools. The only positive was that he was young enough to start fresh. </p><p></p><p>Fast forward many years, and he is doing well for himself. Runs his own non-agri related business. Dad has gotten older and is in poor health; eldest son is still in the city and rarely visiting; second son was so burned that he has no interest in helping. The herd has been reduced as dad is struggling to run things on his own. (Daughter is also living her own life away from the farm). </p><p></p><p>Looks like it will be a farm sale when the parents pass, after what will be a period of deterioration. All because of the belief that it is the eldest son's 'birthright'. Could have been so different...</p></blockquote><p></p>
[QUOTE="Agri Historian, post: 7700987, member: 159275"] Slightly different experience for a friend of mine. Family farm, 2 sons, 1 daughter. Eldest son excels at school, goes to University, does non-agri related subject. Gets a city job 'for a few years' as the father is still young and fit to run the farm. Second son (my friend) stays at home. Gets stuck into the farm, the business grows. More land is bought, more cows milked, better equipment etc. Years pass. The eldest son is living a good life in the city; married, bought a home in the city, kids going to city school. Has barely done a days work on the farm in years. The second son is getting married. Goes to ask dad about getting a site on the farm to build a house. Dad is not keen and states 'we will need to run this by your older brother'. It transpires that the older brother is to inherit everything, as it is is 'birth right' as the eldest son. The news of a site for younger brother sparks older brothers interest. He isn't keen on handing over any of the good sites, 'in case he needs it one day'. He offers a site on the periphery of the farm. Second son sees the light and is off the farm within 6 weeks. He left with nothing, as he wasn't a partner and his vehicle was owned by the farm. So were most of his tools. The only positive was that he was young enough to start fresh. Fast forward many years, and he is doing well for himself. Runs his own non-agri related business. Dad has gotten older and is in poor health; eldest son is still in the city and rarely visiting; second son was so burned that he has no interest in helping. The herd has been reduced as dad is struggling to run things on his own. (Daughter is also living her own life away from the farm). Looks like it will be a farm sale when the parents pass, after what will be a period of deterioration. All because of the belief that it is the eldest son's 'birthright'. Could have been so different... [/QUOTE]
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Farming Forward
Family and Farming
family succession and planning for the future? just wondering how many of you find this a positive experience and have any tips and advice for others?
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