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SC WI | Its a very difficult and depressing subject.
Either they planned for the kids to fund their retirement or they failed to plan for transfer because it was easy to let the children do the work while they control the money. Either one does both parties a great disservice in the end.
The carrot on a stick held out by the elder generation becomes rotten at some point.
It is hard for the younger generation to admit that our unyielding trust in our parents has let us be manipulated, intentional or not, it has happened and the years invested cannot be returned.
If there is a openly discussed and written plan for transfer on death to the only farming heir then all should be paid in time.
If one is working to build an inheritance for their non farming siblings with with no defined plan for the estate, bad feelings and a broken family is the only outcome.
Protect yourself- Draw a line in the sand and force a written commitment to a future plan. Estate planning and family succession lawyers cost money. Letting it all implode and having the local auctioneer sell your family farm to his investor buddies is worse.
I'm sure that I will get flack from some on here but
This is my opinion based on my life experience as the younger generation.
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“Running the business” not taking over.
