Who gets the Farm

Discussion in 'Homesteading Questions' started by oldmanriver, Jun 23, 2006.

  1. oldmanriver

    oldmanriver Well-Known Member

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    As I get older I think about this a lot,, When we my wife and I leave this world who gets the farm ? We have 3 grown children The youngest or son doesn't seem interested he is a business person likes living in town middle dauther hates to be outside period scared of all the bugs and animals oldest dauther likes the homesteading thing she has goats chickens and a garden..but she has a nice place So where does it go. Is there a way to tie it up so it can't be sold.. I get to thinking this way after a hard day of working without help LOL. What will you do with yours ? :shrug:
     
  2. Jena

    Jena Well-Known Member

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    Sell it, keep a life estate in the house and live it up. If you die with money in the bank, let the kids split it.

    If you don't want it sold, give a conservation easement to some agency. You get to use it and keep it, they get it when you die, plus they pay you for the easement so you also get some cash to play with.

    Jena
     

  3. michiganfarmer

    michiganfarmer Max Supporter

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    Some northern Michigan counties are offering to buy the dvelopment rights to some farm lands to keep them from being turned into subdivisions
     
  4. FarmerJeff

    FarmerJeff Well-Known Member

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  5. michiganfarmer

    michiganfarmer Max Supporter

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    thanks for the link
     
  6. Tabitha

    Tabitha greenheart

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    we are in the same boat. I think Scarlett O'Hara's Dad was right, land is the only thing that matters. and in this day and age even more so. land does not grow on trees and there is none made anymore. Maybe a little in Holland, I don't know. Money is losing it's value and one of these days the bottom will really fall out. I do not know what it is, but it seems there is not much connection to land. I am often sad because I feel like there is a certain thread missing on this land we bought. there are no roots to the past, this could be overcome if there were tendrils to the future. so I am just using it for a while, and I do not want to be buried on it after all because the strangers having it after I am gone might not want that.
     
  7. mary,tx

    mary,tx Well-Known Member Supporter

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    The traditional thing to do is leave it to all the kids, who then fight over it. :shrug: Hopefully the one who most wants it is able to pay the others for their "share." Have you discussed with the one daughter who actually enjoys such things whether she would be interested in taking over the farm? I know it is awkward to talk about, but I believe that might be a good first step to making your decision.
    mary
     
  8. marvella

    marvella Well-Known Member

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    another vote for conservation easement!

    i told my children that whichever one of them takes care of me when i am old, and doesn't put me in a nursing home, gets the farm.
     
  9. DownHome

    DownHome Well-Known Member

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    Have you considered grandchildren. My grandfather gave my and my husband the most wonderful wedding present, an old piece of junk single wide mobile home on 2 city lots :) We worked our fingers to the bone getting that place cleaned up, sunk a little cash into it for carpet, fixed the leaking roof and added a bigger porch. He almost cried the first time he came to see it and I got the biggest hug and smile. He loved seeing someone getting to use it again. He had had to move into an assisted living facility and it had been vacant for a couple of years. It was an amazing blessing to us and I think it was to him too. I honestly don't know how we would have made it on our piddly income if we had had a house payment. THANKS GRANDPA!!

    Consider the grandkids.
     
  10. big rockpile

    big rockpile If I need a Shelter

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    Everything we have is to be sold.1/10th is to go to the Church.Rest divided between the kids.If any of the kids is on Drugs their share goes to the Church.

    big rockpile
     
  11. Deb&Al

    Deb&Al Well-Known Member

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    neither of our children, 23 and 25 seem at all interested in living the way we do. we live in a moderately populated conservative mennonite community and are friends with several menno families. we truely enjoy their church and attend their often.

    dh and i have often said that we should check with our lawyer about having the house given to one of our menno family friends, for one of their children to live in perhaps, or a new couple.

    debbie
     
  12. mary,tx

    mary,tx Well-Known Member Supporter

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    Downhome's response reminded me of the place next door to my parents. The elderly lady who owned it told one of the granddaughters she could have it, but did not leave a will. The family has been at odds over it ever since she died, I guess 30 years ago now. It may never, ever be useful to anyone again, because the legal heirs can't come together on selling it. A few years ago, one of them offered it for sale, and I would have dearly loved to have bought it, but they asked way, way more than it was worth, and I knew I could not ever get a clear title.
    So, when you finally do decide who you would like to leave it to, be sure and make it legal.
    mary
     
  13. Queen Bee

    Queen Bee Well-Known Member Supporter

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    Dh's father divided the land equally between all his children. After sixteen yrs. of neglect and abandoment--dh and I purchased it at fair market value or above from the others. Now, we have our little pc. of heaven. We have been clear,cleaning,tearing down, tore out miles and miles of rotten,rusty wire fencing and hauled off tons of trash and we built a 1500sqft house for his mother to live in for the rest of her life (she is 86yrs). I have a little orchard, vineyard, apairy,and a huge garden. In the next two yrs. (I pray) we will start building our barns, coops and fencing for my animals.. When we die it will again be divided equally between our children. Then I am sure one of my sons will purchase it back from the others.
     
  14. rootsandwings

    rootsandwings Well-Known Member Supporter

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    I watched my dh close knit family almost collapse when his parents generation faced the "one buys out the others" scenerio. The inheritance was ALL land the only guy with money didn't want to keep land, and one family was living on part of it. Took another (unexpected and painful) death to really start healing that.

    My great grandparents left their farm to my mom and uncle. he wanted to sell it for development, she said over my dead body, he gave his half to my cousin (only child) who could use the money. tenant hasn't paid rent in months. My generation has all moved away. Mom keeps asking me what to do. I sure don't know.

    My other great grandmother left her property to her spinster daughter who still lived with her. Daughter left it to a niece because she was hoping the neice would come back - and live near niece's mother who is alone in the state now, and managing both her farm and her daughter's vacant inheritance.

    My father says he wants a viking funeral. He says he intends to leave nothing to fight over but debt. (I hope he's kidding) About the debt - there are a few "things" I'd like to inheret for memories, but they have little monetary value and I still have the memories, so as he wishes.

    My grandfather's estate eventually became the property of his second wife's church, but she saw to it that the baby pictures and my grandmother's wedding ring, and a few other things of that sort got into the right (or at least good) hands before there was an "estate"

    So maybe I'll pass this on while I'm alive.
     
  15. DaleK

    DaleK Well-Known Member

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    Try looking for a neighbour with two kids trying to farm, and leave it to one of them so they both have a better chance.
     
  16. Boleyz

    Boleyz Prognosticator, Artist

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    My Mother-inLaw has 2 beautiful farms and 3 beloved children. At her death, everything is to be sold at auction. If any of the kids want the house/property/piece of the property/etc. they have to bid on it and the price they "pay" is deducted from their share of the rest of the sale profits.

    Sounds like a fair way for everyone to get what they want. The one's who want land, get land...the ones who want cash, get cash...

    My DW and I are going to do the same thing with ours. It's the only way I can see to make all the kids happy.

    BTW, I HATE the way some families use inheritance as a final slap in the face to someone in the Family...Just a pet peeve of mine. All my kids are equally my kids, and therefore, they will all have an equal share of whatever I leave behind...
     
  17. Bink

    Bink Well-Known Member

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    We'll see if any of the nieces and nephews or cousins seem interested and/or worthy. Otherwise, let the survivors worry about it.
     
  18. Beltane

    Beltane Enjoying Four Seasons

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    We've decided to put our farm in conservation. Right now we live in the county with the largest amount of land in conservation. We were thinking about using the Society for the Protection of NH Forests or the NH Farm Museum.
     
  19. Nette

    Nette Well-Known Member Supporter

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    Another vote for conservation easement. There are many options available on how you work it out. Look for a land trust in your area. DH and I don't have kids, and we don't want to see the farms developed. It appears to be a good option for us...
     
  20. agmantoo

    agmantoo agmantoo Supporter

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    Conservation easements certain sound great, too good as a matter of fact. Before putting any land in one the details need to be VERY specific and documented. The recepients are professionals with working the plans and the contributors of the property are babes in the woods. What you get is not necessarily what you think you got!