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Will
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Big Ben
Posted 8/19/2017 01:00 (#6196482 - in reply to #6196362)
Subject: RE: Will


Columbia Basin, Ephrata, WA
gene_champ - 8/18/2017 20:35

Sbeastep - 8/18/2017 13:02

I have a 6 generation 1000 acre farm in Virginia. We have two grown children and a 3 year old grandson. Neither child is interested in farming. Of course we have hopes that the grand child will or future grandchildren. It is important to us that a will be made. We want to protect the farm from being sold at our death. Any feedback on how we could do this to insure that the grandchildren would have a chance at it should they desire?


I am in a similar situation and will be looking into a trust to preserve the farm. Neither daughter married a farmer, but I have a 4 year old grandson that has real promise of farming. He has a passion for the farm and machinery. Already wanting to do stuff. He would be the 6th generation on this farm if it goes that way.

Some may call that ruling from the grave, but I call it preserving muit generational wealth. Too much struggle to get a farm paid for during the depression to let it be sold and the money pissed away for a few toys. I tend to honor my ancestors and sacrifices they made to help me. I intend to give that same opportunity to my future.

e


Good for you, but also good luck. It's a crying shame to have the personal interest in a family farm skip a generation and the farm be lost in that time so that a grandchild is left on the outside of opportunity looking in, but its also next to impossible to successfully rule from the grave.

Everyone's best bet is to live long enough to see the grandkids take it over directly, but even then long term success and succession isn't guaranteed.

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