WHO'S BUYING THE TICKETS?

Problem: Land may increase in value, but so should sweat equity.

- Myron Friesen

With inflation, how do we adjust what sweat equity on a farm is worth? I used to see people attempt to calculate those numbers, but I don’t see how they keep up with inflation. It seems like all four of our children are getting a huge amount of value from our estate: They will all receive well over $1 million from the farm, investments, and life insurance.

However, on paper it looks like some are winning and some are losing. One of our sons has been working with us and helping our farm grow for more than 30 years. He is getting our 600 acres. We feel it must be that way to accomplish our goals and minimize future conflicts. Can you help me feel good about my plan? – Submitted by email from B.P.

Solution: 

To answer your questions, we need to define winning and losing. I will start with a story that may help.

I was driving home after taking one of my children to the airport on a cold, snowy day. I had the radio on for storm updates.