Partnerships can make or break the family farm

摘要

In the eighth article of a series covering farm succession and growing the family farm business, Geoff Tually examines the characteristics of successful partnership agreements. EVERY business, farm or otherwise, operates within an ownership structure,such as single proprietorship, partnership, trust or company Historically, farm families have used either single proprietorships or partnerships, as the preferred ownership structure. However, many of the younger generation are looking to use more complex ownership structures They believe a better understanding of the structures might help their parents enjoy a happier and earlier slowdown or even retirement.