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'Why did Joe get the farm and not Jo? Why Rob and not Robin?' This book describes the answers farm families have to enact for each generation anew. Written by a farmer's wife and mother, it is for all who are interested in understanding the underlying dynamics of succession and inheritance in (farm) family businesses, regardless of discipline, profession and background. It has been arranged in chronological order, following the individual's growing into - or out of the family business and offers exciting insights via easily understood graphs and succinct quotes from industry and research.
This study replicates the International Farm Transfers Study Survey in Australia. The results provide a comparison of Australian trends in career progression, farm succession and retirement with those in other countries to reveal the extent to which the Australian experience reflects patterns elsewhere in the world, and the extent to which the Australian experience is unique.
As the largest group of natural resource managers on the planet, farmers are at the interface of the changing relationship between humans and the environment. Typically organised around what might be considered the most basic of social units, for generations the family farm has survived wide-ranging exogenous challenges, frequently preserving the line of succession to the next of kin. Now as we face major questions about how we use land and the impact of our land use on the global environment, farming once again faces a challenging and uncertain future. This book draws on the experiences of farmers in Australia, New Zealand, North America, Japan and the EU to examine the special features of family farms and, in particular, the tradition of succession which has enabled them to continue to have such a strong presence in the world today.
Farming as it is practised in market industrialized countries is predominantly a family business. This book argues that the nature of the farm business cannot be properly understood without reference to the family that operates it. Examples are taken from the UK, USA, Europe and Australasia.
Successful farmers are concerned with two critical questions: how do I hand my agribusiness to my heirs in a fair and equitable manner and how do I pass it as a viable business opportunity? Succession planning combines elements of business design, ownership/management succession, wealth accumulation, retirement design, and estate planning.
Prairie Patrimony consolidates, refines, advances and grounds recent scholarship that challenges familiar platitudes about family farming and rural life in the United States. . . . No one should doubt the great contribution that Salamon has made to our understanding of American rural life. American Studies [Salamon's] approach yields a depth of information about farming culture not usually found in the literature on rural America. Choice Takes the reader on a cultural tour of a cherished American institution and landscape--midwestern farm families and their farms. With perceptive attention to detail and knowledge borne of first-hand study over many years, [Salamon] skillfully reveals the pervasive imprint of ethnicity. . . . Prairie Patrimony represents one of those rare studies that enrich our social vision and understanding in extraordinary ways. Glen H. Elder, Jr., University of North Carolina at Chapel Hill Salamon's book is a remarkable contribution to the study of agriculture and culture, and its cross-disciplinary approach will engage scholars in many areas. For historians, it is a splendid illustration that different behaviors between American and immigrant farmers, planted over a century ago in the Middle West, have endured to the present. Jon Gjerde, University of California, Berkeley
Experts estimate that eighty percent of household wealth is inherited, and the average American who died in 2015 left approximately $177,000 to his or her family. Harry L. Munsinger, a lawyer practicing in Texas, explores the history of inheritance law in this fascinating book. Topics include: - English laws of succession, which evolved to favor wealthy families by passing real estate and family titles to the eldest surviving son. In contrast, the American colonies developed a democratic system of inheritance where land was divided equally among all the sons. - Goals of early inheritance laws, which were to keep ancestral lands in the family and to determine who would take the land when a father died. - Ways American laws of succession followed English common law during the colonial period and then developed variations more suited to America's social and economic needs after the colonies won their independence from Britain. The author also highlights how any interested party can allege a defect in the execution of a will, how trusts were developed by courts of equity to avoid the rigid rules of English common law governing legal title and use of real property, and how families can safely and effectively transfer wealth.