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How is the young guys suppose to carry on?
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SDFarmboy
Posted 2/10/2019 15:48 (#7311402 - in reply to #7311345)
Subject: RE: How is the young guys suppose to carry on?


Angus8335 - 2/10/2019 15:21 Lost On the question of how to get dad to turn 180°. Ask dad if an operation identical to his came up for sale across the road could he buy it? I know I couldn’t buy a operation the size I have at today’s value. I am the dad in a similar situation actually more dollars involved this is what I did On the day I die all my personal property goes to my children that are operating the farm on that day. The land on the day I die it’s divided by the three children. Any child could rent their land to their brother or sister only at 80% Of the University of Illinois post to Joe Davis County rent rate. If one or two of the children want to sell they can only sell to their brother or sister and that’s also at a reduced rate. I know people scream at me about not being fair but I look at it this way. I want the children and grandchildren to have an opportunity to farm. I realize my children helped build My operation. If you look over in Agtalk cafe under update passing on to next generation, you will see more details.... Dennis



You plan is complicated, and all farms are different.  Did you use a trust in your plan?

I don't believe you can give land to one person, and then have a restriction on who they can sell it to.  

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