Sweat Equity: How To Get It Right and Make It Fair | Episode 251

In this week’s episode, Tracy speaks to Michael Langemeier in this episode titled “Sweat Equity On The Farm: How To Get It Right and Make It Fair.”
So what is sweat equity?
Sweat equity is a form of compensation that considers that few farms have adequate cash-on-hand to fully compensate the next generation’s labours.
And in this week’s episode Michael and Tracy speak about this often tricky subject:
What is sweat equity and why does it occur?
Michael discusses the connection between farm profitability, accepting returning family member, and sweaty equity.
How can we measure sweat equity for estate planning?
He shares the two main dilemmas that arise when calculating sweat equity. Dilemma #1 - treating each child fairly. Dilemma #2 - Increases in farm equity
Michael shares other factors that may affect the calculation.
If you are considering a sweat equity arrangement on your farm, you won’t want to miss this week’s episode.
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[@WyattFarms-t5k]

This was great. Really needed to hear this. Just got back to the farm and wasn't sure how to handle my wage. Thanks!