Posted by showcrop on February 09, 2018 at 05:28:00 from (75.68.37.174):
What are you doing to try to keep your son (or maybe daughter,) on the farm so that you can transition to him? It goes without saying that the farm life is not for everyone, and the chances that your son will be one who will ultimately take the farm over are most likely under 50%, but it sure is good for everyone when the transition happens and it goes smoothly. I had hoped that my son would step into my business, but it was not to be, so at age 55 I sold out. I have seen others whose son wanted no part of it, yet when the father suddenly died or became incapacitated, he came back and seemed to do well. I have also seen where the father gives the son no say, or responsibility, or input into decision making, so the son seems to slowly drift away. On the other hand if you were to give the son responsibility for the decisions on a major part of the operation, and then he makes a major mistake the consequences can be grave. What is your plan and how are you implementing it and how does it seem to be working?
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