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<blockquote data-quote="Jogeephus" data-source="post: 394146" data-attributes="member: 4362"><p>You got some good advice so far. Also, you need to work together as a family so every one of the heirs will be informed. Have a sit down and discuss this with and express your concerns and options. Also, this meeting should only include the actual heirs. No inlaws, outlaws, children or grandchildren cause it doesn't concern them - only the 5.</p><p></p><p>If you are wanting to keep the land together without splitting it, a good option is to form a Partnership or an LLC.</p><p></p><p>I suspect your biggest problem is gonna be convincing the person with the 5 kids they will only get 1/25th. My guess is this person is gonna give you problems. The majority of all wills and such are distributed "per stirpes". This means per branch of family. </p><p></p><p>If you would like some extremely valuable information which you have already paid for with tax dollars go to this link and click on the Adobe file. The authors here now charge a lot of money for this advice in lectures and such. It is geared toward forestland but the principles are the same. This stuff isn't complicated its just something you don't do everyday.</p><p></p><p>Good luck and hope this helps.</p><p></p><p><a href="http://www.srs.fs.usda.gov/pubs/161" target="_blank">http://www.srs.fs.usda.gov/pubs/161</a></p></blockquote><p></p>
[QUOTE="Jogeephus, post: 394146, member: 4362"] You got some good advice so far. Also, you need to work together as a family so every one of the heirs will be informed. Have a sit down and discuss this with and express your concerns and options. Also, this meeting should only include the actual heirs. No inlaws, outlaws, children or grandchildren cause it doesn't concern them - only the 5. If you are wanting to keep the land together without splitting it, a good option is to form a Partnership or an LLC. I suspect your biggest problem is gonna be convincing the person with the 5 kids they will only get 1/25th. My guess is this person is gonna give you problems. The majority of all wills and such are distributed "per stirpes". This means per branch of family. If you would like some extremely valuable information which you have already paid for with tax dollars go to this link and click on the Adobe file. The authors here now charge a lot of money for this advice in lectures and such. It is geared toward forestland but the principles are the same. This stuff isn't complicated its just something you don't do everyday. Good luck and hope this helps. [url=http://www.srs.fs.usda.gov/pubs/161]http://www.srs.fs.usda.gov/pubs/161[/url] [/QUOTE]
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