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Farmland being split between family

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Posted: 6/19/2010 10:40 PM

Farmland being split between family 


So......I don't usually post family\personal problems on forums, but I was just curious if anyone else has been in this similar situation.

Background: 400 acres has been in my family (Dukes family name) since the 1800's. My grandparents still have the contracts signed by Andrew Jackson. My Grandpa and his brother (my great uncle) each owned half. My great uncle passed and willed his half to his son who still farms with my grandpa. Soooo my Grandpa and his single nephew are the ones that own the land.

My dad was the only boy that my grandparents had and was the only child to help on the farm growing and still to this day when its time to harvest. He had me and my brother and we are the only "Dukes" grandsons. I am the only grandchild to ever help out on the farm, I am 28 and am the eldest grandkid.

The situation: My grandpa just got finished with the paperwork that says he is willing his half of the farm, equally, to my dad and his 3 sisters. I feel really strongly that the farm should stay in the Dukes name and that it should be either willed to my dad or put in a trust and dad able to buy the sisters shares. My dad feels the same way but is very non confrontational when it comes to family affairs. I want to do SOMETHING or say SOMETHING but I'm pretty sure its not my place.

Sooooo......my question is, am I just being selfish and just deal with it? Or should I step up and say something? Any advice would be awesome. If not...its cool too.
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Posted: 6/20/2010 2:05 AM

Re: Farmland being split between family 


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Posted: 6/20/2010 2:30 AM

Re: Farmland being split between family 


You are going to look like a greedy little bahstad if you say anything.

If your dad wants more, then he should say something to gramps.  Other than that, it's not your place

My 2 cents

As far as (Flava Flav) Mallett's hokey quote, what he should have said was, "hard work beats talent, but nothing beats weed and Vanilla Ice. Word." - PBT

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Posted: 6/20/2010 4:37 AM

Re: Farmland being split between family 



Yipicya wrote: You are going to look like a greedy little bahstad if you say anything.

If your dad wants more, then he should say something to gramps.  Other than that, it's not your place

My 2 cents
Yeah, thats what I'm afraid of. I couldn't care less about owning the land just to own it or make money. I just want to keep the heritage. I want my kids and my cousins kids to be able to ride the tractor and combine with grandpa and uncle.
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Posted: 6/20/2010 10:41 AM

Re: Farmland being split between family 



Yipicya wrote: You are going to look like a greedy little bahstad if you say anything.

If your dad wants more, then he should say something to gramps.  Other than that, it's not your place

My 2 cents
Agreed.

They have trusts for this sort of thing.

They can set it up so it goes to a trust that owns the land your family has legacy and farming rights. You give up the right to turn it into condos but I think that is what you want anways.

http://www.farmland.org/resources/fic/default.asp


Edit to add: Your grandpa may even get a big tax break now for doing this. I'd at least show this to him and just tell him it is important to you that the land always be there and not a stripmall.

 


 

Last edited 6/20/2010 10:43 AM by max4196

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Posted: 6/20/2010 10:22 PM

Re: Farmland being split between family 


It looks like your dad needs to buy out the 3 sister interest in the property, or get some sort of rights to the land/profit for using the land.

If your dad likes farming, and his sisters are reasonable, it could work.  He could lease the 3 parcels to farm.  Otherwise, he could buy the parcels outright from the sisters.

Have you dad present an offer to either lease the land or buy it from the sisters.  If it's a productive farm, I don't see why the 3 sisters would have a problem with a lease or an outright purchase.  For an outright purchase, get a few independent surveyors and have them value the land.
"If you're in a war, instead of throwing a grenade, throw one of those little baby pumpkins. Maybe it'll make everyone think of how crazy war is, and while they're thinking, you can throw a real grenade."-Jack Handey
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Posted: 6/20/2010 10:50 PM

Re: Farmland being split between family 


Thanks for the input. Would love to get them to put it in a trust. Its all going to depend on how reasonable the sisters are. If they would ever sell, I would hope they would offer it to my dad first, but who knows. Chances are they would lease to my dad or their cousin. I just need to keep on my dad about staying active with the whole situation, not sit back and let his sisters run the show. Just hard having such an emotion investment, yet feel helpless when it comes to the outcome of it.
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Posted: 6/21/2010 11:23 PM

Re: Farmland being split between family 


All a trust would do, potentially, is have the ability, in this situation, to have your grandfather effect his intentions upon the property after death.  It appears as if his intentions are to divide the land between the siblings, thus, negating the need for a trust.  His intentions have been cast in the will.

A trust wouldn't make a difference, if his intentions are to divide the land between the kids.

A word of note on family confrontations:  Keep in mind your grandfather's intentions, and respect them.  It was his property, not yours or your father's.  He can do with it what the will says.  Time will pass, perceived wounds will heal.  This is what your grandfather wanted.  He is looking out for the overall interest of all of his kids.
"If you're in a war, instead of throwing a grenade, throw one of those little baby pumpkins. Maybe it'll make everyone think of how crazy war is, and while they're thinking, you can throw a real grenade."-Jack Handey
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Posted: 6/22/2010 4:00 PM

Re: Farmland being split between family 


A trust certainly would protect it from development. I have some experience with this personally.

 


 

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Posted: 6/22/2010 5:03 PM

Re: Farmland being split between family 



max4196 wrote: A trust certainly would protect it from development. I have some experience with this personally.
Agreed, if that's what the grandfather wanted.  In this situation it appears as if the grandfather's intentions are to divide the land.  If his intentions are to divide the land AND keep it from development, that is a totally new situation, and yes, a trust would do just that.  A willing of the property would not.
"If you're in a war, instead of throwing a grenade, throw one of those little baby pumpkins. Maybe it'll make everyone think of how crazy war is, and while they're thinking, you can throw a real grenade."-Jack Handey
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Posted: 6/22/2010 7:45 PM

Re: Farmland being split between family 



RantReporter wrote:

A word of note on family confrontations:  Keep in mind your grandfather's intentions, and respect them.  It was his property, not yours or your father's.  He can do with it what the will says.  Time will pass, perceived wounds will heal.  This is what your grandfather wanted.  He is looking out for the overall interest of all of his kids.
Appreciate the input rant, especially this. Makes the most sense.

I will just keep an eye on it. If (God forbid) one of them decides to sell the land, I think between my dad, his cousin and myself I don't think we would let it happen.

That is some interesting info on trusts. Can't say I know a lot about it, just from talking to a couple other guys that have had land in trusts.
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Posted: 6/22/2010 10:00 PM

Re: Farmland being split between family 


No problem.

Just keep in mind, a trust is a document that can do a lot of things beyond the grave, if that is the intention.  It is, essentially, creating a "person" (the document), that can dictate when funds are dispersed, when property is dispersed, when a benefactor (your dad, or his sisters) can receive an asset.

If the intention of your grandfather was to split the property via a will, that's that.  Taxes, intentions, good will, etc., are forfeited due to the will.  It's what your grandfather wanted.

They are both powerful documents that can divide a family.  As stated previously, your, and you father's best course of action at this point is to respect the intention of the will.  Your grandfather wasn't delusional when he created the document, I assume, so that's his "will", pardon the pun.

Good luck on the farm.  I'm sure everything will work out fine.
"If you're in a war, instead of throwing a grenade, throw one of those little baby pumpkins. Maybe it'll make everyone think of how crazy war is, and while they're thinking, you can throw a real grenade."-Jack Handey
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Posted: 6/23/2010 9:32 AM

Re: Farmland being split between family 


Ever think about going the co-op route?  Couple this with the trust and you have an appointed trustee (co-op) manager) and a working farm, which I think is your original intention.

Don't know why your ancestor wants to split up the farm other than he doesn't trust anyone to be able to handle it or nobody has shown an interest.  I think at minimum you keep the "Family Farm" in existence and don't have to work it.  You pay someone else to manage it and potentially make money off of it.

If I follow you correctly, you're just wanting it to be self-sustaining but not be bothered with the day to day operations of the business.  Maybe our Grandfather sees it the same way.  Nobody to hand it to, so no reason to keep it in one piece.  You may want to discuss this arrangement with your allies before taking it to the parties involved in the sell-off.
Free PBT!
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Posted: 6/23/2010 2:28 PM

Re: Farmland being split between family 



YankeeBigDog wrote: Ever think about going the co-op route?  Couple this with the trust and you have an appointed trustee (co-op) manager) and a working farm, which I think is your original intention.

Don't know why your ancestor wants to split up the farm other than he doesn't trust anyone to be able to handle it or nobody has shown an interest.  I think at minimum you keep the "Family Farm" in existence and don't have to work it.  You pay someone else to manage it and potentially make money off of it.

If I follow you correctly, you're just wanting it to be self-sustaining but not be bothered with the day to day operations of the business.  Maybe our Grandfather sees it the same way.  Nobody to hand it to, so no reason to keep it in one piece.  You may want to discuss this arrangement with your allies before taking it to the parties involved in the sell-off.
Ehhhh not quite. Grandpas nephew is the one that farms the other half of the farm, and will probably end up farming the daughters quarters if they do keep them. Dad has said he would retire from his job and farm full time, and I would take over dad's role in helping out when harvest time comes.

I think it all boils down to grandpa wanting to be fair to all the kids, which I don't blame him. The funny thing is that he had the farm land (not the house or contents therein) willed to my dad, then changed it to split it up. So, who knows what really happened. I guess as long as the farm stays together, thats really what I'm worried about.
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