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Discussion Farm Transfer with Older Parent
Back to Retirement PlanningPurdue University School of Consumer and family Sciences
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Introduction
1. Farmer & Older Parent
2. Farmer & Son
3. Farmer & Brother
4. Farmer & Spouse
5. Older Parent's Health
6. Mother & Son
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Transcript - Indirect Control

Ed: What are you doing?

John: I am thinking about Mark graduating, getting married, and coming home to farm with us. I wonder if there will be enough income for three families.

Ed: I can figure it out. Give me those numbers.

John: Dad, you are great with numbers. But, I need to think it over and see what changes we need to make. Maybe you and Mom should start taking Social Security.

Ed: I didn’t think I would ever see the day when you would take charge. This is something new.

John: I am ready to take charge all right, but I want to make sure you feel comfortable with easing up on the farm work.

Scenario 1
Examine Strategies
Direct Control
Indirect Control
No Control
Using What You Learned

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