In many farming families, one child returns to the property while their siblings build their lives elsewhere.

The returning child may work long hours in the farming business, accept a lower income while the operation grows, take responsibility during illness or difficult seasons, or make choices about their own family and career because the farm needs them.

Parents often want to acknowledge that contribution. At the same time, they may want all of their children to feel respected and secure. Those aims are not necessarily in conflict, but they do require careful thought.

A plan that has only ever been discussed at the kitchen table can be understood very differently years later, particularly after a death, relationship breakdown or a difficult financial period.

Not every family will come to the same arrangement. Spending time discussing and documenting these matters where relevant will help your family make decisions with a clear view of their consequences, while there is still time to explain them and adjust them.

Article provided by:

HHG Legal Group