Posted by ss55 on August 10, 2014 at 11:43:14 from (50.81.112.224):
In Reply to: Bad news today!!! posted by JD Seller on August 09, 2014 at 20:33:28:
I very sorry to hear of your friend's failing health.
I am also some what surprised by the newly found concern about the uncertainty of that "family farm". It sounds like what is now happening has been your friend's plan for a long time, his plan is simply being carried out now. Your friends instructions are basically that the children should to stay out of their dad's farm business, and only dispose of it the best they can after he and their mother are passed away. That is the estate plan of many farms today.
It reminds me of the problems a friend was having with his kid constantly playing with and loosing his tools. He kept telling the kid to "leave dad's things alone", "don't touch my things". He finally had to lay a good beating on the kid before the kid would leave his dad's tools alone. Later, when the kid graduated from high school I overheard the dad say he was concerned about his kid, he was so unhandy and didn't want anything to do with tools. I could only roll my eyes.
"The farm is farmed almost just like it was when we first rented in in 1970." If you've been renting the farm since then, that farm has not been a "family farm" but rather a "rental property" for 44 years now, that's almost two generations. The decisions to exclude the children from the farm operation and rent it out was made forty four years ago, probably when the kids were choosing careers and leaving the nest. Those children are now in their 50's and early 60's, nearing their own retirements. After being excluded from the farm for so long you can really expect them to take much of an interest in the farm now? Your friend has had forty years to bring one of his kids into his farm as a partner, but he didn't want that.
If some of the children do step up now and take an interest in the farm will you accept them or will they be criticized for it? Suppose one of them reviews the lease and updates it to match current average rentals at an additional $150/acre in his mother's favor, wants the crop rotation changed to less profitable crops for better control erosion, and wants supplies and chemical purchased from a supplier that gives the family a rebate, or hires a farm manager to keep an eye on things for them. Would they be considered responsible landowners looking out for their mother's best interests or would they be outsiders and interlopers meddling in things that are none of their business, only ruining what was a sweetheart deal?
I've seen both sides of this deal, when a landlord passed away, and when my dad passed away.
Again, I am sorry about your friend's health, but what is happening is the plan he made.
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