Woodbury: Farm Family Business
Lance Woodbury DTN Farm Business Adviser
Mon Feb 11, 2013 04:27 PM CST

Grain farm returns and balance sheets have soared in recent years, far beyond anyone's reasonable expectations. Now the question of how family members should be compensated becomes a discussion point in many operations. Conservative operators know this Disneyland economy won't last forever, so they may want to stash reserves for the return to normal. Meanwhile, off-farm heirs or siblings see the operating income potential and sometimes wonder about returning to the farm. Spouses who sacrificed lifestyle during hard times and startups hope for a raise if not a new house.

While many families I know approach compensation relatively conservatively, they ...

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