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
  • Crop Tech Corner Researchers have developed GE wheat that yields far better under hot conditions, a wheat gene is ...
  • The Attraction of Youth Combine genotyping with a yearling bull, or even a weanling, and you're less likely to make a poo...
  • Kubota Steps Up A new mid-range, high-horsepower M7 tractor moves this company into the row-crop arena.
  • Fines for Fringe Benefits A little-noticed rule in the Affordable Care Act could impose huge penalties on small business. I...
  • Clean Water Goes a Long Way Cleaning up 900 feet of a small creek in Kentucky brings rebirth to water once choked with sedime...
  • Beef Checkoff Effort Resumes Members of the eight organizations comprising the Beef Checkoff Enhancement Working Group were se...
  • Ag and Environment Outlook Agriculture continues to watch how the U.S. Environmental Protection Agency implements the propos...
  • Surgery on Plastics Dharma Kodali's goal is to insert soybean oil in the basic ingredient list for PVC plastics.
  • Ask the Vet How should I treat a cow with a swelling on her flank?
Related News Stories
Woodbury: Farm Family Business
Ag Interest Rate Snapshot
Farmland Outlook
Finance Outlook
Iowans to Favor ARC?
Woodbury: Farm Family Business