Brothers , who have a rivalry that dates back to childhood, sometimes antagonize each other even more because they work together on the farm, day after day. Fathers , already struggling with the need to balance love and authority in raising children, now have those children as employees they must motivate and discipline. Parents find that their kids' normal drives for independence now are complicated by an economic need to take over the business and its assets. Everyone , parent, child and spouse, finds their economic life intimately tied together on a financial roller coaster. True, farming is stressful by nature, but our experience tells us that the problem lies elsewhere.
Rival brothers fail to clearly define and divide their responsibilities.
Spouses fail to plan and budget their business finances and then never meet to discuss them. Parents do their estate planning in secret, so their children grow frustrated giving their lives to a future cloaked in fog. Family partners, as a group, never discuss financial goals or risks, and ride that roller coaster blindfolded, without brakes or safety bars. We'd like to know your thoughts. Online's new Transitions talk group.