NEWS
Marcia Zarley Taylor DTN Executive Editor
Tue Jan 7, 2014 09:03 AM CST


Avoid Family Feuds

Setting ground rules for fair treatment of business partners is the best preventative medicine for conflict in farms and other closely-held businesses, instructors at this week's TEPAP conference in Austin, Texas stressed. Not only will this deflect misunderstandings later, it could avoid legal judgments from increasingly unsympathetic courts.

Don't wait until death, divorce, disability or a partner's departure to discuss how to value the family business. It's always better to set the policy before the need, says farmer-financial consultant Dick Wittman of Culdesac, Idaho.

Wittman encourages families to tally all their assets (reduced for any ...

Quick View
  • Enlist Cotton Approved USDA has made its final decision to deregulate Dow AgroScience's Enlist cotton trait, which means...
  • Market Moves Weaning and preconditioning top the list of aggravating and expensive chores for most ranchers. C...
  • Ask The Mechanic Ask the Mechanic answers the question about how VW and German engineering was able to get by with...
  • Batten Down the Hatches Purdue economists forecast multiple years of negative or narrow margins for corn and soybean prod...
  • PNW Ag Hit by Historic Drought In addition to problems with the Northwestern wheat crop, cattle are also being adversely affecte...
  • RFS Deadline Nears With the deadline to file comments on the proposed Renewable Fuel Standard volumes to strike at m...
  • Woodbury: Farm Family Business Agendas don't always lead to immediate decisions, but can still cement your family unity.
  • Multi-Year Losses Spur Concern The recent price rally offered growers a welcome opportunity to price 2014 and 2015 crops, but it...
  • Ask the Vet The vet says my calf had Mannheimia. What is that?
Related News Stories
Ag Interest Rate Snapshot
DuPont Trims Outlook on Ag Weakness
Woodbury: Farm Family Business
Hearing on Railroad Revenue Adequacy
Grain Shipper Files for Bankruptcy
Syngenta Rejects Monsanto Again
Multi-Year Losses Spur Concern