How to Offset Land vs. Non-Farm Assets Between Heirs

By: Mark McLaughlin

Problem: how can we offset land vs. non-farm assets between heirs when values constantly change?

We have one son who farms with us. Our other son has a great job two hours away. He appreciates the operation but will never come back to farm. We want to be fair to both, but the farm can’t grow if ownership keeps diluting between generations. We’d like both boys to get land, but our farming son needs most of it. We have sizable cash and retirement accounts that could help offset the difference, but how can we do that when asset values change so much?