Woodbury: Farm Family Business
Lance Woodbury DTN Farm Business Adviser
Wed Jul 25, 2012 04:41 PM CDT

Over the years I've witnessed a number of family business members work for a very low wage in anticipation of a financial or farmland windfall at some later point in their career. They are promised -- or they assume -- they will receive a greater-than-equal share of the farm or estate as compared to their off-farm siblings because they stayed on the farm. However, the windfall they often experience is one of resentment and frustration toward the parents, of conflict between siblings and sometimes the feeling of a wasted career.

In a number of cases, family members were never in ...

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