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East Central SD | My situation is simple compared to yours. Your family size doesn't make it easy at all. But even if you had 20 owners of a trust it's still easier paying rent to one entity rather than 20 individual owners.
I personally kind of wanted something irrevocable (for my dad's estate) but my lawyer strongly suggested to stay revocable. I think he's right. At the end of the day communication and education in the family is most important. The book "Family Wealth" really hits that point well. You want to build a family "culture". As far as keeping the land together - If there isn't a family member farming (and won't be) I'm not sure it's that important to keep the land. But even if it's sold I want that generational wealth to remain for family security. Absolutely don't want it just spent as I feel like that is dishonoring those that have come before us. They went without to build that security for us.
I've spent an insane amount of time thinking about this stuff and learning from past mistakes in the family. All the way from a family "auction" which led to brothers never speaking to each other again to a daughter that thought her brothers were taking advantage of her because they were "only" paying county average rent.
With the size of your family you probably have to consider the end game. If your sisters aren't going to have any children anyway if I were your parents I would talk to them, try to get them something extra while they are alive (something like a $10K annual gift) and then leave everything to the boys. Basically the way our trust is set up your sisters would be entitled to income from the trust while they are alive but if they had no heirs your family and your brother's family would end up 50-50 ownership.
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Estate plans -add on too Mkt. talk discussion
