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EC North Dakota | There are so many different angles on this.
Often, the family is expected to scrape by on as a little as possible through good times and bad so the farm can prosper, buying land or whatever.
A friend of mine decided not to farm and work for Microsoft instead. He received stock and purchased stock whenever he could. Now his parents died, should he get an equal share of the farm with his brother who never had any extra money because any extra money went to pay for family farmland and machinery? If yes, then the farm brother should get an equal share of the millions of dollars of Microsoft?
Perspectives are so different. Some might say they had to stay on the farm, missed out on other big opportunities and had to be with Mom and Dad every day. While the next says you got to have the fun of the farm and were so lucky to be close with mom and dad.
I would tell young farmers to be sure they are being compensated fairly for their sweat in the farm. Not cash but shares of the business. You shouldn't wait til your folks are gone to find out you were screwed or not. | |
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