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sw ontario | Recent court decision in Ontario , children sued parents for there share of "farm's increased value" as they worked on it as children and were not fairly compensated,so they claimed---End result-children were granted $350,000 by court in claim against parents.......There is no FAIR WAY for family business' to divide up assests and keep everyone happy unless none are involved and business is liquidated and assest split....Issues are often parent(s) will have a favorite child or feel sorry because xxx has had a tough life,poor,job,ect. which clouds judgement.....and quite often as some other posts alludes too a child will stay home and farm or be in parents business as it easy way too get rich or to get taken advantage of.......ahhh the joys of family,money and inheritances.......Inheritances should not be a business or retirement plan | |
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Division of Farm & assets
