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1887fff

Posted 9/18/2016 17:43 (#5536189)
Subject: Dad Just Passed, Best Way to Change Leases for Mom?

Western Illinois

AgTalk Members,

Dad met Jesus a week ago and we had a beautiful ceremony celebrating his life yesterday. I'm 30 and proud he taught me as well as he did.

My question is if anyone has advice on the best way to transition? I had 100% share on about 1/3 of the acreage and Dad had 100% share on the remaining 2/3. Mom has told me she wants everything simple. Given that we work well together but she just wants simplicity and to help me here and there, the best is clearly cash-rent. That said, I know switching to cash-rent all at once means Mom would have one year with only income and no offsetting expenses, incurring quite a tax bill. I'm wondering if some sort of scaling flex lease is in order? Like doing 50/50 for two years and then moving to cash-rent? Or is it unavoidable and just best to pay Uncle Sam and move on?

Any advice would be appreciated--thank you!

Dad Just Passed, Best Way to Change Leases for Mom? - 1887fff : 9/18/2016 17:43
- RE: Dad Just Passed, Best Way to Change Leases for Mom? - 665 Farmer : 9/18/2016 17:51
  - RE: Dad Just Passed, Best Way to Change Leases for Mom? - JimmyP : 9/18/2016 17:55
    - RE: Dad Just Passed, Best Way to Change Leases for Mom? - 1887fff : 9/18/2016 18:46
- RE: Dad Just Passed, Best Way to Change Leases for Mom? - Red/Green : 9/18/2016 17:55
  - RE: Dad Just Passed, Best Way to Change Leases for Mom? - 1887fff : 9/18/2016 18:43
    - RE: Dad Just Passed, Best Way to Change Leases for Mom? - grtoutdoors13 : 9/18/2016 18:52
- RE: Dad Just Passed, Best Way to Change Leases for Mom? - SWMOWHEATFARMER : 9/18/2016 17:56
  - RE: Dad Just Passed, Best Way to Change Leases for Mom? - tom1491 : 9/18/2016 18:09
    - RE: Dad Just Passed, Best Way to Change Leases for Mom? - SWMOWHEATFARMER : 9/18/2016 18:12
- RE: Dad Just Passed, Best Way to Change Leases for Mom? - H3f : 9/18/2016 18:24
  - RE: Dad Just Passed, Best Way to Change Leases for Mom? - paul the original : 9/18/2016 19:19
- RE: Dad Just Passed, Best Way to Change Leases for Mom? - 00rooster : 9/18/2016 19:34
  - RE: Dad Just Passed, Best Way to Change Leases for Mom? - Ranchhand : 9/18/2016 20:01
- RE: Dad Just Passed, Best Way to Change Leases for Mom? - centralillinois : 9/18/2016 19:49
- RE: Dad Just Passed, Best Way to Change Leases for Mom? - Iowa Quality Hay : 9/18/2016 19:52
  - RE: Dad Just Passed, Best Way to Change Leases for Mom? - easy : 9/18/2016 20:19
- RE: Dad Just Passed, Best Way to Change Leases for Mom? - forwardperson : 9/18/2016 22:58
- RE: Dad Just Passed, Best Way to Change Leases for Mom? - h2o_rider : 9/19/2016 07:12
- RE: Dad Just Passed, Best Way to Change Leases for Mom? - dapals : 9/19/2016 07:18
- RE: Dad Just Passed, Best Way to Change Leases for Mom? - jakescia : 9/19/2016 10:50
  - RE: Dad Just Passed, Best Way to Change Leases for Mom? - Douglas : 9/19/2016 11:26
  - RE: Dad Just Passed, Best Way to Change Leases for Mom? - easy : 9/19/2016 21:20
    - RE: Dad Just Passed, Best Way to Change Leases for Mom? - jakescia : 9/20/2016 09:21
- RE: Dad Just Passed, Best Way to Change Leases for Mom? - craw789 : 9/19/2016 13:00
- RE: Dad Just Passed, Best Way to Change Leases for Mom? - Ben E : 9/19/2016 14:30
  - RE: Dad Just Passed, Best Way to Change Leases for Mom? - thorfarms : 9/19/2016 14:52
- RE: Dad Just Passed, Best Way to Change Leases for Mom? - 1887fff : 9/20/2016 07:38

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