ALBANY, N.Y. (AP) — After four decades of farming, Kevin Carley was ready to pass along his dairy operation in central New York. And his son-in-law was eager to take charge.
But simply selling operating farms — pricey pieces of land with barns and animals — can be costly and complicated. So the pair structured a deal that phased in control to son-in-law Dan Dimon, leaving Carley as an employee.
"I just didn't want to give up, so we both had to do a trust thing where I just handed him the steering wheel and I said, 'OK, I'll ride shotgun," said Carley, 57, taking a break from work at the farm in Pompey.