Re: Keeping him down on the farm

Posted by Bruce from Can. on February 09, 2018 at 07:17:29 from (76.69.31.140):

In Reply to: Keeping him down on the farm posted by showcrop on February 09, 2018 at 05:28:00:

Well I guess I am very much one of the folks you are asking this question of. First off , I am not
doing anything to keep my son "down on the farm " , I told all three of my boys not to ever think that
they were saying on the farm for me, if they want to be on the farm , it is for themselves. Oldest son
is going to stay on the farm , and the next two boys would rather do just about anything else but stay
and work long hours and weekends on the farm. So they left. My second son likes to run equipment, and
has knocked around from job to job, and some times when things get tough for him, I find some work on
the farm for him. But as soon as he can , he jumps to another job, and that's ok. My youngest works in
a local feed mill , steady work ,decent pay , good benefits , and a pension plan. He gets regular
hours, and all the over time he wants ,works for him.
So back to the son on the farm. I think we will form a ltd. and put our milk cows and quota , as well
as the farm equipment and one of our farms into the ltd. and I will pass him 40% ownership for the work
he has put into the farm so far , he has been with me full time for ten years on next to no pay so this
isn't a gift, and his brothers are aware of what we are doing. As time goes by eldest boy can buy out
my side if he likes , or my wife and I could will it to him. We still have another farm , a house lot,
and some investments , so are other boys could be given some thing from this pool. What I see is , if a
son isn't interested enough in the farm to come and help out at say harvest time, why should he expect
to benefit from the $$ value in the farm ? My two off farm boys will have to wait till I am gone to
inherit from my wife and I , and not have any claim on the farm ltd , as they were not interested in
building it. In some ways, I kind of wish my oldest didn't want to farm.I would be ready to winded it
up. So because he does want to farm, I started to pass much of the day to day management over to him,
he will need to know how to do every thing on this farm , so he may as well start while I am here to
help. We are looking hard at putting up a new barn , and that will ease the work load, and give me the
chance to back away. I am 57 now and I would like to see this new barn and transition all done and
working by the time I turn 60. That will give me 40 years of 7 days a week dairy farming, and I can
then become a part time worker, and full time share holder. This is our plan , if we cannot pull it all
together, we have two other options , downsize to what my son can do on his own, or just quit and sell
out, last resort. First option is the one we , my wife and I and the oldest boy want. And as I said ,
the other boys have opted to not be on the farm, so the farm business is not their concern , as I am
still the sole owner.

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