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estate settlement question
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Mike SE IL
Posted 11/20/2012 17:56 (#2707852 - in reply to #2707489)
Subject: RE: estate settlement question



West Union, Illinois

TA1070 - ... a corporation that owns most of the ground, and my friend receives a very modest salary for his labor.
Let's make sure what we are hearing is what you are saying.  The corp owns the ground?  How about farmng the ground, is that the corp as well?  In other words, does the corp own the ground AND the farm business, or are they separate entities?
The sister wants to keep her half of the ground.
IF the corp owns the ground all she inherits is her share of Dad's stock.  SHe does not inherit any ground, just ownership of the business that owns the ground.

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