We own the cows and some machinery and dad has helped. Now dad wants to retire and have us buy the land and farm. Question I have is should me and my brother have a equal draw. I do the feed buying, breeding, calve delivering, bookwork, etc. Dad and my brother thinks it should be the same, my wife says no way should it be.
Most partnership agreements define partners' draws according to their relative ownership percentage.
This would be as true if Bruce's brother were a monk in a monastery as it would be if they both worked 18-hour days on the farm. True as far as profit and loss, that is. Bruce's wife is right. If there are big differences in contribution between partners, those differences should be recognized in some way by different compensation, before profit is calculated and shared. Bruce's Dad and brother are probably thinking that it's dangerous to try to measure different contributions.