Posted 4/4/2021 08:01 (#8933006 - in reply to #8932706) Subject: RE: Passing on the farm.
A succession plan is needed and a poor one is better probably than none.... Personally I am finding it hard too put something further together that is fair to spouse, non-farm Son and farming Son and myself.
Having lot's of equity/net worth doesn't always relate to having a lot of cash. And so many things can happen , death of anyone involved in a plan , sickness, divorce , addictions, nursing home and just cola inflation..
And ,used to be men were wore out or dead a lot earlier and when they retired they just sat around and played cards or went to church....now those 70-80 yr. olds want to travel , winters in the south, ect and really need to plan on living (or having enough $$) to live to 90+ .....My Mother is 92 and healthy and her brother passed at 94 and her older sister is still alive .....now IDK if I want to live that long...