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Discussion Farm Transfer with Older Parent
Back to Retirement PlanningPurdue University School of Consumer and family Sciences
Scenarios
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

Richard: Hi, John. How's it going?

John: All right. Richard, I wanted to talk to you about the farm.

Richard: What do you mean? Is anything wrong?

John: No, Everything is fine. I just wanted to get your thoughts about the ownership of the farm after Dad and Mom decide to let go.

Richard: Is this their idea or your idea?

John: It is my idea. I want to talk to them about it, but first I want to see what your feelings are about the farm. Do you see yourself ever coming back and living on the farm?

Richard: I don't think so. I enjoy quitting at 5 o'clock. And I like to take weekends off.

John: That’s what I like about the farm. I can set my own schedule and be my own boss. So, what do you think your share of the farm should be?

Scenario 3
Examine Strategies
Direct Control
Indirect Control
No Control
Using What You Learned

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