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Northern Illinois | I think it depends on the # of acres you are talking about. How much value is the sister who would like access to the farm willing to forfeit for that? How old are you? Will you still have a family farm if you sell of 1/2 or 3/4? It is easier to split $$ than acres.
Unless you are talking about a fairly large # of acres I doubt anything is going to please your sisters and you at the same time. If you are close to retirement age this might be a case of selling the whole farm and getting some off farm income and use the farm receipts as your retirement. A 640 acre piece owned by your parents (no idea farm size just using an example) is a very sizeable inheritance to hand down and may be worth ~ 1.5 million to each child but 160 acres is not much to farm. As I said I don't know how much this land counts toward your farming operation. | |
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How to Split a Farm
