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Iowa | +1
Even under the best of circumstances, time can have a way of making the undivided family ownership of the land in equal shares turn out to be anything but fair and equitable. In a sense, they are not really children and grandchildren anymore once these arrangements are applied. They are renters and landlords forced into a long term business marriage that does not always end with death. What could possibly go wrong? Probably nearly as many different stories as there are people involved with these deals.
It's a lot easier to see what is fair when looking back on life than it is looking forward in life. Lumping all the land into shared ownership is not a cure for having a less than perfect crystal ball despite what some lawyers and estate planners might say.
I'm not saying there is another solution that is perfect for everyone or the families holding an undivided interest in the land is always the wrong approach. None of us are likely to have absolute perfection in these regards simply because we are human. I do believe some lawyers and estate planners tend to push the family land entities without a full understanding of what it really means outside the walls of their office. | |
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family farms where only a couple members farm?
