Posted 2/9/2019 22:14 (#7310150 - in reply to #7310016) Subject: RE: How is the young guys suppose to carry on?
That is going to be the rub. 2 kids. The girl is probably thinking, may by even saying that Dad is supporting the son. Dad has to have maximum value to satisfy her. He is probably trying to get it settled now while the son still has a chance rather than later.
The only way to buy into the deal now, assuming no equity is if Dad will sell the machinery on contract and work out some form of share rent on the land. That would be wise for Dad as it would spread out the tax and possibly lower it.
As far as the situation being fair it is hard to tell. Was the son working 100 hrs a week for $30,000 or was he working part time for $100,000? It doesn't matter now.
FYI a Job in town has some perks as we age. Not near the stress. If it gets done it gets done. If it doesn't it is some one else's problem. A lot more time off. For example it was cold, windy and Saturday, I never even went outside!