Some back history. The Mother passed away several years ago in the nursing home. This made the Father's death the end of the farm. The State of Iowa had a $400,000 lien against the estate. The Mother had been on the state Medicaid.
The farm had a 130 acres. The land brought $7500 per acre. That was just shy of a million dollars. The equipment and household stuff brought another 100k. So each kid should have $125-135K each.
Everything had to sell because two of the kids would not agree to running the farm jointly. One of the oldest kids is farming. He wanted the others to pay off the state and keep the farm. The local bank had agreed to loan a joint LLC the money.
The problem was the rental income would not have gotten each kid much after the payment and taxes. I also told them that they would be heading for trouble if they tried to keep it going with five bosses.
The outlaws(non kid spouses) ended any chance of it going on. By the sale few of the kids where on speaking terms. Their father was never a very good planner. He had a life insurance policy that would have covered the state but he quit making the premium payments when his wife died. He said his estate would be enough for the kids.
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Today's Featured Article - Listening to Your Tractor - by Curtis Von Fange. Years ago there was a TV show about a talking car. Unless you are from another planet, physically or otherwise, I don’t think our internal combustion buddies will talk and tell us their problems. But, on the other hand, there is a secret language that our mechanical companions readily do speak. It is an interesting form of communication that involves all the senses of the listener. In this series we are going to investigate and learn the basic rudimentary skills of understanding this lingo.
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