Farmer & Spouse
Direct Control | Indirect Control | No Control | Quiz
John, 52, farm operator, and Sally, 50, spouse, are discussing the fact that no one in the family wants to take over the farm.
Attitude: The importance of keeping the farm in the family must be addressed. However, the couple might recognize the need to make a decision that will be more beneficial from a financial perspective.
Preparation: Consider the alternatives such as working with a beginning farmer who wants to become an owner in the future.
Timing: All family members who might be interested should be asked if they want to become more involved such as cash-renting the land. If no one is interested, then no one should object if the farm is sold.
Behavior: Be calm and rational. Allow enough time to think this through carefully.