Posted 2/10/2019 00:15 (#7310291 - in reply to #7310016) Subject: RE: How is the young guys suppose to carry on?
Lost1 - 2/9/2019 21:00
central va farmer - 2/9/2019 20:51
If they had an LLC how was the father able to dissolve it, with no input from the son?
It sounds like the father formed a LLC and the son didn't have any ownership in it. That should have been a big red flag for the son.
I'm thinking that he formed and llc with out including the son. I would agree that should've been a red flag but then again how many times have there been red flags and we've kept plugging away. The uncle that I worked with for many years sold me pieces. I worked for just enough to pay my bills etc but we got along great. These 2 seemed to get along as well but that's just from the outside. They milk cows 80ish. There are 2 kids boy and girl.
So unless the dad gives it to a charity the son and daughter should be in for equal shares on 5.8 million. Sounds like a pretty good investment for the time working... the job in town obviously seems like a good deal but hardly the thing he would end up with 2.9 when he retired or any other time. Good time to get out of the dairy business any way, 80 cows is not enough to keep one family going in this day.
No way could it provide for two families. As long as he made fair wages along the way he doesn't have much of a gripe in my book. Now if he has invested in the farm with money and equipment that should come out of the total or take them with you Would certainly been better to be up front with what was going on. I hate surprises
What kind of worker was this cousin. One that showed up on time and carried the heavy load or the one that showed when he decided to show and dad was already half done.. Lot of reasons besides pure greed that things don't work … Find out what they are and go from there. Could go either way