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Farm Business
Agricultural Matters
Planning for retirement of partners in the partnership
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<blockquote data-quote="dinderleat" data-source="post: 3582678" data-attributes="member: 211"><p>Currently in partnership with my parents, we all get on well , we are clear on our aims and goals for the business and are all trying to push the business in the right direction.</p><p>Luckily I have a joint tenancy with my father until I'm 65 (currently 29 dads 58). On 470 acres tenanted 50 owned. We milk 170 wean everything and fatten beef cattle and rear our own heifers.</p><p></p><p>What I want to do is setup a possible plan of financial retirement/retirement for my parents of which will not leave me needing to borrow a large amount in order continue the business.</p><p></p><p>We have just bought 50 acres jointly of which upon needing could be sold to partly fund their retirement.</p><p></p><p>What's people's thoughts on tackling this subject/issue?</p></blockquote><p></p>
[QUOTE="dinderleat, post: 3582678, member: 211"] Currently in partnership with my parents, we all get on well , we are clear on our aims and goals for the business and are all trying to push the business in the right direction. Luckily I have a joint tenancy with my father until I'm 65 (currently 29 dads 58). On 470 acres tenanted 50 owned. We milk 170 wean everything and fatten beef cattle and rear our own heifers. What I want to do is setup a possible plan of financial retirement/retirement for my parents of which will not leave me needing to borrow a large amount in order continue the business. We have just bought 50 acres jointly of which upon needing could be sold to partly fund their retirement. What's people's thoughts on tackling this subject/issue? [/QUOTE]
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Planning for retirement of partners in the partnership
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