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Working for free
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JDGnut
Posted 1/10/2019 15:57 (#7235223 - in reply to #7234538)
Subject: RE: Working for free


Waxahachie, TX
I agree with two-twenty.. I would try to rent some ground on your own, and work in your time on his farm, and work on the equipment into using it on your farm. Or as he said, looking at purchasing a piece of equipment that he currently doesn't have that will make life easier for you to farm on you own, and use on his farm.
Walking away would probably never be an option for me (if I was you).. You can cut back your hours, and work at your regular job more.
I would guess by your age, that he still has years left that he wants to keep farming, and what is he going to do when he retires from is town job.. I would guess that he will want to spend more time on the farm.. that will push back the time you inherit the farm. ( also more time he can possibly spend in the field) This would be a good time if you had your own land rented for both farms to grow.
As someone mentioned above, make sure there is a plan for you and the others to inherit the farm.. If you get stuck with the possible large inheritance tax no one in the family might be able to keep the farm.. There needs to be written plan, and started way before its needed..
And there will be issues with the other members of the family.. Someone will want their cut, or want out of the deal, there needs to be a plan. The 3 own part of the land and rent part to you and you get the equipment or something...
Its a tough decision, and has your family grows it will get more difficult.
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