Should I start a homestead with my family?
What does homesteading with family look like?
I was recently speaking on a panel about starting a Homestead Business at the Indiana Homestead Conference, and one of the questions was about homesteading with family. This is such a broad topic that I could honestly go on about all day and could cover many aspects of family. I feel that the panel question was in reference to extended family or a multigenerational family homestead, so that is what I will focus on with reference to homesteading with your kids/nuclear family.
There are several ways that this could look that you can consider. The most common type that you will see or be a part of is the multigenerational family homestead. This is where grandparents, parents, and kids may homestead together on one piece of property or on multiple properties. Other options could include siblings and their families, extended family members like cousins or aunts and uncles, or even choosing to homestead with friends you consider family.
Does it work?
There are families that get along beautifully and can seamlessly embark on an endeavor together. Then there are extended families that are like oil and water but want to make a go of it anyway. Personal disclosure… my husband and I naively attempted to go into endeavors with family members of ours with doe-eyed excitement, only to have it horribly blow up in our faces. From my time in real estate, commercial farming, and some personal experience, I have found that the only way to make it work is through clear expectations.
How do you have clear expectations with family?
Whether you are planning to homestead for profit or just to provide for yourselves, you need to approach it as a business agreement. Honestly, this should be done even if you are homesteading by yourself, with a spouse, or with your kids.
Creating a Business Plan When Homesteading with Family
Yeah, it can be an awkward conversation with family sometimes, but it saves you so much in the long run. Have a sit-down conversation where everyone brings to the table their homestead goals. They have an open conversation about who is responsible for the planning, labor, and finances of each aspect. Include your long-term and short-term goals to avoid resentment. The truth of the matter is that even if you aren’t planning to homestead for profit, you are investing time and money with the intention of gaining a benefit.
Consider writing an official plan. Here are some sample plans from the University of Oregon for farm businesses.
Communicating The Plan
Where can the whole family see it?
If you feel like this is an “informal” plan, such as one made with a spouse, simply hang it on the fridge or in the barn so everyone knows their responsibilities and remembers the goal that you are all working towards.
Making it legal
Always protect yourself with homesteading with family! I know it sounds harsh, but you just never know what could happen. You could have a disagreement, someone could pass away or become debilitated, you could need to get a loan or file bankruptcy, or you could become wildly successful, needing to change the way you file taxes. All of these scenarios could require a legal document in place outlining financial responsibilities, ownership of assets, or management allotment.
- Consider a trust
- Form an LLC (Limited Liability Company)
- Form a partnership
- Notarize your business plan
- Put appropriate people on the land title
How do I make it legal?
I outlined some ideas on making it legal above, but how do you go about doing this? Below are some resources to consider.
- Consult an attorney
- Ask the title company
- Ask a notary
- Consult the USDA or state agriculture department (this is still a farm business, and there are people who specialize in family farm legalities)
- Free/low-cost legal websites for creating legal documents
- Talk to your bank
Well, now I’m discouraged about homesteading with family…
Try not to be discouraged when it comes to being a part of a family homestead. I know there are beautiful pictures of homesteads in the past with families working together for a shared goal. Sadly, life is different today. Embrace these endeavors; just make sure you all are working towards the same goal.
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