anybody gone into partnership with a relation?

futurefarmer

Just wondering does it work if u go into partnership with a family member and whats involved, i know the herd number will have to be in both names and farm accounts but after that is their very much setting up to be done ?

Manoffeeling

Don't.

jay gatsby

Manoffeeling wrote: »

Don't.

Amen to that

Timmaay

Ugh. In one with my father. Two of us get along grand anyways, so to be honest, I don't think it was worth the utter nightmare of filling out all the paperwork in the 1st place, farm accounts, solicitor letters/land registry documents etc etc!

But if things did go south between the two of us, at least we know where we both stand!

jay gatsby

Timmaay wrote: »

Ugh. In one with my father. Two of us get along grand anyways, so to be honest, I don't think it was worth the utter nightmare of filling out all the paperwork in the 1st place, farm accounts, solicitor letters/land registry documents etc etc!

But if things did go south between the two of us, at least we know where we both stand!

I was being a bit flippant there, just because working with family can be such a hassle. Obviously circumstances may dictate that this is the correct way for the OP to do things. Yes you can form a partnership, not in one myself but know lads who have done it.

As Timmaay said, I have also heard there is a lot of paperwork. Teagasc job here I'd say

Manoffeeling

If it is with a brother, just watch out. It will be great when ye have nothing, but wait until greed appears.

The Big Fella

Never go into business with a relation.:eek: You will only end up fighting the whole time and greed will ruin the partnership.

threeball

The Big Fella wrote: »

Never go into business with a relation.:eek: You will only end up fighting the whole time and greed will ruin the partnership.

You can add friends to that too. One ends up working and the other lazing and they will never agree on who does what. Business should be the lone wolf role or else someone completely detatched that you have no other ties with.
Granted it works for some, but they're very much in the minority.

pakalasa

It's like the saying - "Never hire someone you're not prepared to fire."

K.Flyer

My advice would be to Never go into Business with Friends or Family.
It can ruin relationships within families if a dispute were to arise, and friends can take liberties.
If you have a solid business and its outgrowing you, take someone on from outside the family / friend circle. If it is not working out you can let them go without having to feel awkward about facing them at family / friend gatherings.

grumpyfarmer

My tup pence worth is don't aswell.. went into partnership with my father 8-9 years ago and it only works if i shut my mouth and agree with all he says... that said tho we are both as pig headed and stubborn as each other and never got on anyways.... as for the paper work there is a lot of form filling and a solicitor has to draw up a proper contract with all the terms and conditions... a load of bullcrap really cos daddy's always boss... ;-)

pakalasa

.......had to laugh at the last post...........GRUMPYFARMER and all that...:D

darragh_haven

grumpyfarmer wrote: »

My tup pence worth is don't aswell.. went into partnership with my father 8-9 years ago and it only works if i shut my mouth and agree with all he says... that said tho we are both as pig headed and stubborn as each other and never got on anyways.... as for the paper work there is a lot of form filling and a solicitor has to draw up a proper contract with all the terms and conditions... a load of bullcrap really cos daddy's always boss... ;-)

I went into partnership with my father, same as above really. Only i get to feck off to my off farm job 5 days a week.

maxxuumman

The only thing you should ever join your family in, is saying the rosary.

divillybit

Just resurrecting an old thread here... so my older brother is running the family farm now full time, suckler to beef enterprise mainly... about 120 acres owned and another 30 rented. The farm was signed over somewhat quietly to my brother a few years ago when my dad was ill and and Im not informed of the terms of the agreement between them. Both parents in good health still but no spring chickens either nut my father helps out as much as he can still with the farm.Ive a keen interest in farming and I help out alot on the farm too when Im around. I work full time and have an engineering degree, but no green cert. Ive changed jobs recently so Im nearer my homeplace now.. Im on very good terms with my parents and siblings. So thats my background. So really I'm just wondering if a farm is signed over to a son can another son or daughter challenge this? I dont honestly know if my parents have made a will. Im not the kind to fall with family over land as Im doing alright working in the private sector and if I didnt inherit anything I wouldnt be sore over that. Honestly. But at the same time we have a 30 acre out farm which in a way could be turned into a great outfarm in its own right were I to take on with it but its getting run down and it'll never achieve this potential while my brother farms it as he has alot on already. Im concious that this outfarm is part of my brothers livelihood, but in some respects he got the same level of education as I did but went farming after college. I went working in industry and have a good chunk of change Id like to put into the farm, but not if I wont get to farm it in my own way. Id only really go farming part time were I to inherit land.Im undecided if I should risk creating tension by asking if the farm will all be left to one sibling or whether I should let it go. I probably need to have a honest conversation with my family but I dont think they want to talk about it. So fellow farming fans, have ye encountered sibling tensions when a farm was being inherited? Apologies for the long text but it helps give context.

kevthegaff

divillybit wrote:

Just resurrecting an old thread here... so my older brother is running the family farm now full time, suckler to beef enterprise mainly... about 120 acres owned and another 30 rented. The farm was signed over somewhat quietly to my brother a few years ago when my dad was ill and and Im not informed of the terms of the agreement between them. Both parents in good health still but no spring chickens either nut my father helps out as much as he can still with the farm.Ive a keen interest in farming and I help out alot on the farm too when Im around. I work full time and have an engineering degree, but no green cert. Ive changed jobs recently so Im nearer my homeplace now.. Im on very good terms with my parents and siblings. So thats my background. So really I'm just wondering if a farm is signed over to a son can another son or daughter challenge this? I dont honestly know if my parents have made a will. Im not the kind to fall with family over land as Im doing alright working in the private sector and if I didnt inherit anything I wouldnt be sore over that. Honestly. But at the same time we have a 30 acre out farm which in a way could be turned into a great outfarm in its own right were I to take on with it but its getting run down and it'll never achieve this potential while my brother farms it as he has alot on already. Im concious that this outfarm is part of my brothers livelihood, but in some respects he got the same level of education as I did but went farming after college. I went working in industry and have a good chunk of change Id like to put into the farm, but not if I wont get to farm it in my own way. Id only really go farming part time were I to inherit land.Im undecided if I should risk creating tension by asking if the farm will all be left to one sibling or whether I should let it go. I probably need to have a honest conversation with my family but I dont think they want to talk about it. So fellow farming fans, have ye encountered sibling tensions when a farm was being inherited? Apologies for the long text but it helps give context.

Ask your father and mother what do they want to do, can be a tricky question but better off your chest

Glass fused light

Honestly I think the decision has already been made when your father was ill.
I would suggest a conversation needs to be had over your parents care into old age and what assets your parents have to fund it, and that is one for you and your brother to come to terms with.

wrangler

divillybit wrote: »

Just resurrecting an old thread here... so my older brother is running the family farm now full time, suckler to beef enterprise mainly... about 120 acres owned and another 30 rented. The farm was signed over somewhat quietly to my brother a few years ago when my dad was ill and and Im not informed of the terms of the agreement between them. Both parents in good health still but no spring chickens either nut my father helps out as much as he can still with the farm.Ive a keen interest in farming and I help out alot on the farm too when Im around. I work full time and have an engineering degree, but no green cert. Ive changed jobs recently so Im nearer my homeplace now.. Im on very good terms with my parents and siblings. So thats my background. So really I'm just wondering if a farm is signed over to a son can another son or daughter challenge this? I dont honestly know if my parents have made a will. Im not the kind to fall with family over land as Im doing alright working in the private sector and if I didnt inherit anything I wouldnt be sore over that. Honestly. But at the same time we have a 30 acre out farm which in a way could be turned into a great outfarm in its own right were I to take on with it but its getting run down and it'll never achieve this potential while my brother farms it as he has alot on already. Im concious that this outfarm is part of my brothers livelihood, but in some respects he got the same level of education as I did but went farming after college. I went working in industry and have a good chunk of change Id like to put into the farm, but not if I wont get to farm it in my own way. Id only really go farming part time were I to inherit land.Im undecided if I should risk creating tension by asking if the farm will all be left to one sibling or whether I should let it go. I probably need to have a honest conversation with my family but I dont think they want to talk about it. So fellow farming fans, have ye encountered sibling tensions when a farm was being inherited? Apologies for the long text but it helps give context.

If it's signed over a few years you won't change that. It's not your fathers to will to anyone now,
Better to leave it alone now, no point in causing bad feeling now when there's no hope of change
After getting the farm the onus would be on your brother to look after your parents which can be a time bomb too.
You're way better off away from the farm, farming has turned into a race to the bottom and farm incomes are way under industry