Northeast Louisiana | Boone & Crockett - 3/12/2019 10:53
Set up a trust now, passes upon death probate free. May want to establish an LLC within the trust so they can exchange shares amoungst one another to divvy it up. Much easier than figuring out where to establish new property boundaries on an equal value basis. Make a stipulation that if they sell, ( buy-sell agreement) must offer to an existing member first at a discounted value. Much better chance the land stays with a family member that way. You can dictate the rules if that is your desire.
My next door neighbor did this, he owned a 1,200 acre square block next to me. He had it in a corporation. He and wife died and four siblings took over. The three girls wanted to sell out to brother. Brother bought out the three girls shares. Everyone was happy. Parts of this tract has awsome farm land with some sloughs. Would have been hard to divide equally with a fair portion. |
Considering changing Will. Getting rid of Undivided interest.
