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Re: Farm tractors. Need help


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Posted by GeneMO on December 28, 2015 at 11:09:11 from (71.51.203.52):

In Reply to: Farm tractors. Need help posted by jd4520d on December 27, 2015 at 07:49:03:

I was going to mention the estate planning aspect, but supper99 beat me to it.

You mentioned something that caused me to go on alert.

You said you were the only one intested in the farm, as for farming it.

when your dad and uncle are gone, there will be plenty of cousins/siblings coming out of the wood work to get a piece of the estate.

Dont doubt me or ignore this fact. You may work your butt off for years, and you may have a "handshake" deal, but unless it is in writing, you will end up getting shafted. And shafted big time. Dont bet on others good will, or being friendly. Cousins or siblings to never lifted a finger will get their part. UNLESS there is some estate planning done.

Forget the iron, the tractors. Estate planning and and overall farm plan is the first thing you need to do. If dad and uncle are hesitant, or dont want to do this, then you may have to shock em by walking off for awhile.

Along with this, I suggest you go to your local extension office and get with someone to help you draw up a farm plan. What are your goals? What do you have to work with? Inputs? Capital? Good credit/banker, etc.

You may find you dont need some of the equipment you have, or you need more, or newer.

I worked my butt off for 40 years, my dad an I had a "deal", but when he got cancer and the drugs took over his mind, my no-farmer brother, whoes only ag interest is growing dope, stepped in and took more than half.

Dont do anymore work till you get some sort of an agreement in writing. IN WRITING!!!!!!!!!!

Good luck, Gene


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