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Northern Illinois | when I said made whole I was referring to her receiving income from the land that she owns. From the OP it appears that the farming part was seperate from the land ownership part. If the sister was not part of the farming portion she could go without income on her landownership. From the OP I assumed that as of now the sister owns 1000 acres. By just valuing the farming part as the cost of inputs in a growning crop the sister could be left out of income. For example lets just say the son is only paying enough rent to the corporation to pay RE taxes, insurance and yearly fees. Then lets say the cost of inputs on the date of death was $250/acre and then at the end of the year the revenue generated was $1000/acre. So it is possible under this set of variables that the brother would receive $875/acre and the sister would receive $125/acre. I don't think that would be right. But as mentioned below there are 100's of details that we don't know. I just appeared to me from the tone (I could and likely be incorrect on this) that the brother was trying to take advantage of the sister. | |
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estate settlement question
