How Do You Split A Family Farm?
People call farming “the simple life.” Sometimes, however, inheritances and family suits can make farming anything but simple. Many reasons exist why you might want to divide your family farm, but when you want to split your farm equally among family members, certain things get in the way. What if your eldest son worked on the farm for 10 years, your daughter worked on the farm for three years before she went to college and your youngest son chose not to work on the farm at all? Determining the amount of farm equity to go to each member of the family is easier than it may seem. Write down the names of every person among whom you want to divide the family farm. Calculate the value of the farm before any other members worked on the farm. If the farm work was always divided (i.e., you purchased the farm when your farm-working children were grown), then calculate the value of the farm at the time of your acquisition. Divide the previous value of the farm by the number of family members wit
