Almost all parents, in their estate planning, say they want their assets to be divided equally among their children. This concept seems so obviously fair that it’s rarely challenged.
But is it really fair to give siblings equal shares in the family farm when one has worked hard for 20 years building the agribusiness while the others have had nothing to do with it?
Most people would agree that this is probably not fair. When parents think about their estate, they rapidly retreat to equality because this at least has the appearance of being fair. It might also seem like a simpler approach than creating a meaningful division of assets. However, there are many ways of fairly dispensing family wealth that don’t depend on the straightforward, ‘equal’ treatment of one’s heirs. When children are given equal shares in the family farm, a battle often ensues. In some cases, those who participate in the agribusiness end up with more in value than those who don’t. Where siblings are joint shareholders in a business, the dividend flow is controlled by those siblings in the management of the company. Those who don’t work for the family business often do not receive a fair share of the financial benefits.
Bu hikaye Farmer's Weekly dergisinin May 21, 2021 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Farmer's Weekly dergisinin May 21, 2021 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
Uncertainty over Trump's stance on AGOA
It is of vital importance that that the African Growth and Opportunity Act (AGOA) be upheld following the recent US presidential election, in which Donald Trump emerged as the winner.
Plum pollen study reveals varietal differences in pollination effectiveness
A new study undertaken near George, Western Cape, explored pollination in plum varieties, showing key differences in pollen quality. Octavia Avesca Spandiel reports on the research findings.
Study: small cuts to beef production could eliminate years of emissions
In a paper published in early November, scientists reveal that pasturelands, in particular those that were once forests, hold great potential for mitigating the effects of climate change.
Harnessing wind for cleaner energy
At the Windaba Conference and Exhibition, held in October in Cape Town, Western Cape, Niveshen Govender, CEO of the South African Wind Energy Association, spoke to Glenneis Kriel about the state of wind energy in the country and the opportunities that farmers can exploit.
The Cape Grace: a Cape Town icon is reborn, and her new custodians shine
Brian Berkman has had the exceedingly good fortune of spending many nights at the Cape Grace Hotel over the years. He revisits it to find it as impressive as ever.
Cutting-edge tech aiding the agri sector
Toyota Material Handling's innovations conserve resources and reduce the environmental footprint of farming operations.
Use the correct growing medium for safe seedling production
Instead of buying expensive growing mediums for seedlings, farmers can make their own mixtures from local resources, such as manure, which are economical and produce excellent results
Optimising cherry production and quality
Growing cherries in a suboptimal climate requires manipulating trees and temperatures. But with a considerable market advantage, it is worth the effort. Lindi Botha visited ZZ2's Toscana farm, which for four weeks of the year takes prime position in the cherry market.
Biosecurity & nutrition: the foundation of pig farming success
JD Mostert, a consulting swine nutritionist at CS Vet, and Dr Stefan Steyn, a veterinarian at Afrivet, shared their expertise with Sinenhlanhla Mncwango, delving into why biosecurity and nutrition are critical pillars in establishing and maintaining a productive pig farm geared for long-term success.
The business of pig farming: practical steps for success
Running a pork farm requires knowledge and expertise. Mosele Lepheane, director of a small piggery in the Free State, spoke to Sinenhlanhla Mncwango about the structured approach needed to succeed, from drafting a business plan and managing cash flow to sourcing equipment and expanding market access.
