Darrin (32) and Ned (67) started exploring farm transfer options because Darrin wanted to dairy farm and Ned wanted the dairy to continue even though his own children were not interested in taking over.
Darrin moved into a trailer house on the property. He started out working for a salary but also had the option to buy cows, buildings and, eventually, land. As time passed, their relationship progressed from employer/employee to more of a partnership. By the time Ned was ready to retire, Darrin was in a position to buy the rest of Ned’s operation.
Before and while working with Darrin, Ned consulted his accountant, lawyer, and other advisors to ensure he and his family would be protected into retirement. This planning paid off, and now Darrin is a new generation on the farm – just as Ned had hoped would happen.
Darrin (32) and Ned (67) started exploring farm transfer options because Darrin wanted to dairy farm and Ned wanted the dairy to continue even though his own children were not interested in taking over.
Darrin moved into a trailer house on the property. He started out working for a salary but also had the option to buy cows, buildings and, eventually, land. As time passed, their relationship progressed from employer/employee to more of a partnership. By the time Ned was ready to retire, Darrin was in a position to buy the rest of Ned’s operation.
Before and while working with Darrin, Ned consulted his accountant, lawyer, and other advisors to ensure he and his family would be protected into retirement. This planning paid off, and now Darrin is a new generation on the farm – just as Ned had hoped would happen.
