compostcowmanure
New member
There's lots of real world advice to be found at TBN so that's why I'm posting my question here.
My mother & her two brothers are trying to sort out their inheritance and things are looking bleak for my one uncle.
Here's the will as far as I understand it:
My mother & her older brother are entitled to:
40 acres of farmland each + $200,000 each worth of financial investments.
The younger brother gets 150 acres of farmland which includes the house & barns. With him being responsible for paying my mom & other uncle the difference between the appraised 150 acre value & their total inheritence value.
All agree that nobody is ever going to sell their part to fulfill my Grandfathers wishes.
When the will was last revised 22 years back farm land value was around $1000/acre and not the $20,000 it is today.
So to get to the punchline, the youngest uncle is on the hook for paying the other two a total of $450,000 since his 150 acres is so valuable.
So he's about 5 years from retirement & has been dealt a whopping bill to pay his brother & sister for a home he was raised in & will never sell but rather would be leaving it to his nephews & niece since he doesn't have any children of his own.
In the long run I'd be one of them to inherit this but I can't believe how unfair this whole situation is for him.
My mother is loving & reasonable but feels she has her hands tied by the letter of the law(will). I try & remind her that they need to go by their parents original intention which didn't include hanging their youngest child with a huge bill.
Anyone else go thru something like this & how did you handle it?
By the way the entire farm brings in $40k annual income under its current land lease agreement.
