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Southeast SD | Don't know if this is the right forum or not but we'll try. Here's the situation. My grandma has roughly 2800 acres of farm ground and pasture ground in her name. She has 3 children, my dad and myself rent the crop ground from her and farm it and the sister and brother both live off farm and have spouses but don't have anything to do with the farm other than come back now and then to visit on a weekend. We are trying to get everything in order in the event grandma passes things are set up as best we can and avoid court and lawyers and fights and things in the future, (grandma is 82). Grandma and grandpa (passed) had always wanted the farm to stay in the family and stay all together, my dad is the only one of the 3 children that has kids the other two siblings don't have kids, Dad's sister is all for the farm being passed down to myself and my two siblings eventually and the brother was in favor of that also until he got married 4 years ago and his wife is a gold digger (uncle even told my grandma that) she wants their 1/3 to sell and live the high life so to speak. No one else wants that or will stand for that. Grandma wants it passed on to the 3 siblings first then the 3 grandkids and on down the line so how do we set it up so that its bullet proof because right now the way we see it is once grandma is gone we will be in court with the evil wife of my uncle. Also how's the best way to set the land up to avoid a big tax problem. Maybe someone has been in this situation or has some suggestions. We would appreciate any ideas you guys have to help so the land and farm stays in the family without a bunch of money spent on court and lawyer fees once grandma is gone.
Thanks in advance for your inputs.
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Setting up a trust.....
