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<blockquote data-quote="HOSS" data-source="post: 481387" data-attributes="member: 1863"><p>I am in a partnership with my Dad. We have an agreement. Since he is retired he takes the lead on most of the general stuff like putting out hay, mending fences, barn building etc. because he likes that part. Especially when he gets to tool around on the tractor or operate the dozer. I help with this also but I take the lead on things such as the decisions on calving times, bull selection, heifer purchases, vet visits etc.. We take the lead on issues that we are strong in. We make all of the financial decisions 50/50 when it gets down to actual money. If I find heifers or a bull I like and think it is a good deal I present the case to him and if he is in agreement we split the cost. We split the rewards 50/50 also.</p><p></p><p>We have a signed agreement on what happens to his half of the farm if he passes on and how that is handled with my siblings. It is pretty fair and takes into account my sweat equity while at the same time protects their inheritance portion.</p><p></p><p>You have to have a pretty good relationship to make it work and my Dad and I are really close.</p></blockquote><p></p>
[QUOTE="HOSS, post: 481387, member: 1863"] I am in a partnership with my Dad. We have an agreement. Since he is retired he takes the lead on most of the general stuff like putting out hay, mending fences, barn building etc. because he likes that part. Especially when he gets to tool around on the tractor or operate the dozer. I help with this also but I take the lead on things such as the decisions on calving times, bull selection, heifer purchases, vet visits etc.. We take the lead on issues that we are strong in. We make all of the financial decisions 50/50 when it gets down to actual money. If I find heifers or a bull I like and think it is a good deal I present the case to him and if he is in agreement we split the cost. We split the rewards 50/50 also. We have a signed agreement on what happens to his half of the farm if he passes on and how that is handled with my siblings. It is pretty fair and takes into account my sweat equity while at the same time protects their inheritance portion. You have to have a pretty good relationship to make it work and my Dad and I are really close. [/QUOTE]
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