The Time Has Come

[TennesseeTuxedo]

This cattle thing is a tough business both coming and going.

 

[T-Wacker]

All I can say is I feel your pain.
Did your father leave a will
Not a lawyer but you may have some recourse, unless your father left it entirely to your mother
It would involve you and your brother taking on mother to court

He did leave a will and I did check with an attorney. Unfortunately in Arkansas, and most states I believe, once the spouse dies, the surviving spouse gets everything regardless of the will. So, in short, if it is obvious that you will not outlive your spouse like me, a will isn't worth the time to make one and the cost to file (unless you both die together I guess).

 

[insurman]

T-Wacker, I can't imagine how bad that must suck. Here's an idea. If your brother doesn't want in, and you can't, or choose not to, buy it on your own..... You say it's underpriced. Buy the whole thing and then turn around a sell part of it. You could be left owing very little or at least have a manageable mortgage. While it's not the best case scenario at least you wouldn't lose the whole thing.

I did hear through my son, whom she had lunch with, that my brother apparently purchased the farm after I gave him my blessing last weekend. Now, she has told both my daughters different stories, so who knows, waiting on a message from my brother what the heck is really going on. Daughter told me that my brother bought the original 260 acres and the rest is being sold. Better than all of the farm but will cut my hay production in half and require me to reduce herd size by at least 50%.


Any update on this...I hope it gets worked out.

 

[T-Wacker]

T-Wacker, I can't imagine how bad that must suck. Here's an idea. If your brother doesn't want in, and you can't, or choose not to, buy it on your own..... You say it's underpriced. Buy the whole thing and then turn around a sell part of it. You could be left owing very little or at least have a manageable mortgage. While it's not the best case scenario at least you wouldn't lose the whole thing.

I did hear through my son, whom she had lunch with, that my brother apparently purchased the farm after I gave him my blessing last weekend. Now, she has told both my daughters different stories, so who knows, waiting on a message from my brother what the heck is really going on. Daughter told me that my brother bought the original 260 acres and the rest is being sold. Better than all of the farm but will cut my hay production in half and require me to reduce herd size by at least 50%.


Any update on this...I hope it gets worked out.

No, brother hasn't returned my message. Still hearing conflicting stories, so I am just going about my business, baling hay and preparing for the fall.

 

[gizmom]

We have done all we can to make sure all we have goes to our our two sons. Jacob wants to keep the farm our eldest has no interest in it at all. We had to work out the wills to be fair and equal to both. That being said since we have told the boys we were cutting back Jacob has really stepped up and taken ownership. Don't get me wrong he has always been involved, but I think out of respect to his parents he didn't push his ideas and opinions. He has always wanted to have an open house bull sale so this year he is moving forward with doing that. I feel when our time is done the farm will be in good hands.

Gizmom

 

[wbvs58]

I'm glad your still around Gizmon. The way this thread has gone I thought you must have been dead and buried.
I think the bull sale will be a good move. You have done the ground work and built up your reputation, I think it will take off. Probably what people are looking for. Nice to have a bit of competition on those top bulls.
Ken

 

[Jake]

We have done all we can to make sure all we have goes to our our two sons. Jacob wants to keep the farm our eldest has no interest in it at all. We had to work out the wills to be fair and equal to both. That being said since we have told the boys we were cutting back Jacob has really stepped up and taken ownership. Don't get me wrong he has always been involved, but I think out of respect to his parents he didn't push his ideas and opinions. He has always wanted to have an open house bull sale so this year he is moving forward with doing that. I feel when our time is done the farm will be in good hands.

Gizmom

If it's none of our business tell me so. But I've always struggled with the the thought that estate planning should be equal.

The main reason I had to go get a full time job and start my own operation was because it was pretty evident when I graduated college I was going to go back and work for pennies on the dollar to make sure my aunts and uncles wealth grew because they were going to get their equal share. Continuing to build a family legacy meant nothing to grandpa and he couldn't understand why we would have a problem with doing all the work for the same 1/4 share as the rest. Sour point in our family that we had to just accept and move on.

 

[True Grit Farms]

We have done all we can to make sure all we have goes to our our two sons. Jacob wants to keep the farm our eldest has no interest in it at all. We had to work out the wills to be fair and equal to both. That being said since we have told the boys we were cutting back Jacob has really stepped up and taken ownership. Don't get me wrong he has always been involved, but I think out of respect to his parents he didn't push his ideas and opinions. He has always wanted to have an open house bull sale so this year he is moving forward with doing that. I feel when our time is done the farm will be in good hands.

Gizmom

If it's none of our business tell me so. But I've always struggled with the the thought that estate planning should be equal.

The main reason I had to go get a full time job and start my own operation was because it was pretty evident when I graduated college I was going to go back and work for pennies on the dollar to make sure my aunts and uncles wealth grew because they were going to get their equal share. Continuing to build a family legacy meant nothing to grandpa and he couldn't understand why we would have a problem with doing all the work for the same 1/4 share as the rest. Sour point in our family that we had to just accept and move on.

I have already given our son my share in this place and all the equipment. I'm still debating on what to do with some other properties. My wife is splitting her half up between our daughter and son. If you don't earn it, don't expect to get anything from me.

 

[gizmom]

Jake

I am send you a pm to give you my thoughts.

Gizmom

 

[Jake]

Jake

I am send you a pm to give you my thoughts.

Gizmom

You can text me as well if you'd rather it not be out here.