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A friend
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<blockquote data-quote="Jogeephus" data-source="post: 468984" data-attributes="member: 4362"><p>Wewild, this sounds like a situation I'm familiar with where "death taxes" took a portion of the landholdings. Heir could not come up with the cash to pay Uncle Sam off and "lost" a portion of the farm to pay off this "debt".</p><p></p><p>In this particular situation, this person felt obligated to restore the land to its previous condition and he has worked hard to do so cause he wants to give each of his children the same opportunity he was given.</p><p></p><p>To prevent one of his children from sucking all this hard work up their nose, a corporation was formed and some trusted advisers have been selected to manage the property in the event he no longer can. It is a shame when several generations break their backs to build something only to have one generation to blow it. This really T's me off and is one of the many reason's I can't stand Paris Hilton.</p><p></p><p>If you have any specific questions pm me and I might have a tip or two for your friend based on experience.</p></blockquote><p></p>
[QUOTE="Jogeephus, post: 468984, member: 4362"] Wewild, this sounds like a situation I'm familiar with where "death taxes" took a portion of the landholdings. Heir could not come up with the cash to pay Uncle Sam off and "lost" a portion of the farm to pay off this "debt". In this particular situation, this person felt obligated to restore the land to its previous condition and he has worked hard to do so cause he wants to give each of his children the same opportunity he was given. To prevent one of his children from sucking all this hard work up their nose, a corporation was formed and some trusted advisers have been selected to manage the property in the event he no longer can. It is a shame when several generations break their backs to build something only to have one generation to blow it. This really T's me off and is one of the many reason's I can't stand Paris Hilton. If you have any specific questions pm me and I might have a tip or two for your friend based on experience. [/QUOTE]
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