Your cousin is trying to stake a claim to the farm. Not that he wants the land, mind you, but he knows what the property is worth.
If you do nothing, I can pretty well guarantee what will happen. When your grandfather passes on, cousins will come out of the woodwork and even if your purchase agreement holds up, you will go through more aggravation that you can imagine.
This is a pretty clear case where you need professional assistance. Ask around for the name of a good lawyer who specializes in estate planning. You need to make sure you have an iron-clad arrangement with your grandfather. And don't put it off; even if Grandpa lives for many more years, your cousins could later claim that he was not competent to make decisions.
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Today's Featured Article - Grain Threshing in the Early 40's - by Jerry D. Coleman. How many of you can sit there and say that you have plowed with a mule? Well I would say not many, but maybe a few. This story is about the day my Grandfather Brown (true name) decided along with my parents to purchase a new Ford tractor. It wasn't really new except to us. The year was about 1967 and my father found a good used Ford 601 tractor to use on the farm instead of "Bob", our old mule. Now my grandfather had had this mule since the mid 40's and he was getting some age on him. S
... [Read Article]
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