Get Perspective Before Big Decisions
“I run across situations where one party, or both parties, have decided that their estate plan isn’t fair or equitable. I have also had recent contact with landlords that think the tenant is taking advantage of the farm lease and are not paying an appropriate cash lease rate. Either situation is a dispute, and everyone stops listening to each other. The parties dig in their heels and have made up their mind that they are not being treated fairly or equitably. When that happens, the relationship between the parties is usually permanently damaged at some level.
“This damaged relationship is particularly sensitive to deal with when there are family members involved. So, when the business issue relates to family, maybe the first conversation is centered around the statement: ‘When we get done with this, are we still going to have a family or not?’”
In this article, Extension Educator Allan Vyhnalek reviews key factors in business conversations between landlords and tenants that will lead to more positive outcomes.