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East of Broken Bow | I see a few doing things successfully around here.
A lot of what seems to entail passing a farm down to multiple children involves not using the kids to make the parents rich, and then having the parents die with everything that they then divide amongst the kids.
The successful ones help the kids get a start, and let the kids get skin in the game while they are still young and able to put in the long hours necessary to get started. It might be as simple as letting the kids use machinery so they can rent the farm down the road, helping another kid build cattle facilities, etc.
It seems that the old timers waiting to split the acreage at their death have kids that are almost retirement age, waiting for a chance to control the land, and grandkids who moved off the farm because they were getting nothing in return for their work.
Nothing like Grandpa being 90 years old, still controlling everything, with a couple 65-70 year old kids who are still beholden to him just to be able to keep going until he kicks the bucket so they can finally own some land on their own, to bring about the end of the family farm. | |
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To the young guys- inheritance