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Northern Illinois | Concerning the land you inherited. Do you each own 50% of the total or does your brother have his specific 50% and you your 50%?
I wish you the best but see issues in the future.
imo the simplest thing to do would be for you to rent his ground and pay him a salary for the hours that he works. I doubt you and your brother will value your hours on the farm the same. The hours driving a tractor and physical work you would be able to figure but how do you figure the hours your (or your brother) spend just thinking? We farmers work hard but we also need to think. Think about marketing and buying inputs or talking to others. There is a value to that but how do you figure that when talking about crop splits.
Again make it simple so you and your brother still are talking to each other in 25 years. | |
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Possible LLC or other options
