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inherating grandparents farm

M

mike plotner

Member
i would like to recive my grandparents farm once they pass away (which shouldnt be for a while) i would like to know how you guys whould ask if you chuold inherat a farm. i help out alot with out being asked or asking to be paid i have also bought parts for the tractors and declined to be paid back. out of our family only me and my little brother would probley farm. i have worked on the barns and some old equitment back in the weeds to keep things nice.since grandpa doesnt farm anymore i am worried that he might decied to just sell it. i would like to keep it in the family. my older cousin said she was on board if she could live in the housse which i agreed to if she would make lunch. my brother said he would like to have it but after i told him about how i could still remeber really well when grandpa and dad would farm ithe decied that it had more setimental value to me than to him. it is about 150 ish acres with a old 1930's barn and a newer polebarn. it also has a grain bin that was built in the '80s. i just dont know how to ask if i could have it in the future. any help would be nice.
 
Sounds like family issue, depending on other heirs involved. I would speak about your wishes to the grandparents right away, while they are both in good health. And be open about what you want to any other heirs. There may be problems anyway, but your conscience will be clear.
 
Maybe they will ber willing to sell for a reduced price. That will solve a lot of inheritance/other heirs problems later. Can give them a lifetime lease, so they can live there untill...
 
Sorry, but i believe all rightful heirs should be treated equal. Doing those things mentioned does not justify special consideration for dispersal of stated properties.
 
Beating around the bush will not help. Do you know the positions of all the probable heirs? Anybody apt to pitch a fit or have a legitimate claim to a portion of the assets? Talk to the grandparents and let your feelings be known but at the same time see if they have any standing positions as to their preference for heirs. Are they well enough off or have insurance in case they have to have extensive hospitalization or go in a nursing home? Will you have to help out regardless of how much strain it puts on your time? Find an attorney that specializes in estate planning and present all information gathered to analyze the impact of state and federal laws that are relevant.
Don't approach this as though a brief mention to your grandparents is all you need to set this up. Don't be bitter if you find out they have a standing obligation to somebody else family member or otherwise.
 
What makes you think you desrve to inherit the farm, your grandparents worked their entire lives to acquire what they have. Why should you not do the same? If your concerned that your grandfather might sell you should position yourself to buy. I would not ask them if you can have the farm, but would ask about the possibility of buying on contract.
 
Don't see it happening. You don't sound to realistic. Do you think your parents generation has some plans of their own? If your family doesn't have a sucession plan in place, that everybody agrees to, it will be sold out.
 
I hate to sound cruel but what business is it of yours what your Grand Father decides to do with his own farm??? It really sounds like you are making grand old plans without talking to the one person that really has the right to make any decision about it. You have talked to your older cousin and your brother. Want to bet that your Grand parents have already heard about your plans???? You may have already shot yourself in the foot with them.

I would go and talk to them about maybe having the right of first refusal on buying the farm. If you really want it then that is the correct way to do it. The way you are going about it is all wrong. You are worrying about Your Grand Dad selling HIS farm. You are sounding like a money grubbing A hole.

That 150 acres farm could be worth 1.5 million if it is in the right place right now. I am willing to bet that it is a large part of your Grand Parent's assets. Do you think they might not need the money from the farm if they have late life health issues???? Or should they go on Medicaid so the tax payers can pay for your farm???

So if you want it then BUY IT. If not shut up and let them do what THEY want to with THEIR property.

I know I sound harsh but it really POs me when people line up waiting for someone to die so they can inherit the dying person's things. Buy it so they can have financial security.
 
(quoted from post at 17:54:50 12/16/12) i would like to recive my grandparents farm once they pass away (which shouldnt be for a while) i would like to know how you guys whould ask if you chuold inherat a farm. i help out alot with out being asked or asking to be paid i have also bought parts for the tractors and declined to be paid back. out of our family only me and my little brother would probley farm. i have worked on the barns and some old equitment back in the weeds to keep things nice.since grandpa doesnt farm anymore i am worried that he might decied to just sell it. i would like to keep it in the family. my older cousin said she was on board if she could live in the housse which i agreed to if she would make lunch. my brother said he would like to have it but after i told him about how i could still remeber really well when grandpa and dad would farm ithe decied that it had more setimental value to me than to him. it is about 150 ish acres with a old 1930's barn and a newer polebarn. it also has a grain bin that was built in the '80s. i just dont know how to ask if i could have it in the future. any help would be nice.
Click to expand...

Real Easy. Just tell them that you want to talk to them. Then when you are sitting together just tell them that you would like to have the right of first refusal to purchase the farm from them. This will get the ball rolling, so that you are not outright asking for a gift, yet you are not outright offering them top dollar. You need to have a rough outline of what your plans are, and it certainly wouldn't hurt to have your cousin included in some way so that you are not looking like you are trying to get it all for yourself. You will have to have many discussions, and if things move along be prepared to submit more and more detail. You will need to be prepared to give something for the farm, and feel real fortunate if they offer it to you for 75% of fair market value, because that would be a huge gift. I think that generally people like helping out a young person trying to start out, but usually they like to be given the chance to refuse payment as opposed to being expected to give some thing or some service away. You can also offer to purchase soon with them retaining the right to live there for the rest of their lives rent free. This can be very appealing to older people who would like to live out their days on the farm. Good Luck!
 
You don't wanna know what I think; at least you're up front (with us) about what YOU WANT. While they're alive, it belongs to your grandparents; either they or the state will decide who gets it when they die. I'm an old codger and realize that you're a youngster, but your post just hit me wrong.
 
I don't know your situation but, it sounds like you are trying to 'pull one over' on your parents and aunts and uncles.

Do you have any parents, aunts or uncles that are living? If so, I would think(hope) your grandparents considered them.
Really, you don't offer enough information on this .
 
If you want to "inherit" it you have to convince them to leave it to you alone in their Last Will and Testament and then they become deceased. However, undue influence or coercion is certainly a legal defense if its all left to you in a Will and other interested persons could prove that so be careful. Its theirs and they are free to do with it as they please, whether it be sell it now to an outsider or convey it to certain relatives (maybe you maybe not) or to my mother in law....

"A living person has no heirs"

John T Country Lawyer
 
I've seen several farm estates where the son that did all the work and stayed home to take care of the place got shafted especially if other family members smell money.I just was at a farm auction yesterday where the farm was sold
because the kids couldn't agree on anything.The siblings from another state had the same claim as the son who did all the work.
 
I did not even get the opportunity to bid on my great grandfathers farm, and was sore about that at the time, but I have a better one now.

You are talking about the potential for a million dollar inheritance. I think that your grandparents would have plans, you are not even in the direct line of inheritance.

You cannot sell estate property to family for a reduced price in Iowa without paying the taxes, it is really scrutinized.
 
I was in the same boat about 20 years ago. After a while I realized that there were several aunts and uncles ahead of me and some of them were a pain when there WASN'T money involved.

I bought a house in town, built lots of equity in it, and planned. I sold the house and moved to a farm that I had purchased that is exactly what I wanted. Sure, there aren't quite enough acres, but that is what rent is for and purchases down the road.

I feel way better after working so hard for this farm. It doesn't have my family heritage but I find I am just as interested in those who were here before me who weren't family
 
The only thing you can do is be ready to pay full price at the time at which the owner(s) decide(s) to sell.

I have strictly told my parents that I dont want anything and that if I did I would buy it at the estate auction.

My parents nor my grandparents owe me nothing. Anything I give them is a gift, not to be repaid. You maybe should do the same heading forward.

My sister has no interest in farming and does very little for or with my parents but that does not exclude her as being one of their children. That said to help you understand that each person inlcuded in their will has an interest and owe you nothing for special pricing. In their eyes you may be just a guy sucking up in the end hoping for a freebie.

This all said to help you understand that nothing is free, and neither should it be.
 
You have a nice dream there, but lot of other folks in your greater family also likely have dreams too, and would be in front of you in line?

You can sure sit down with your grandparents and express your desire to farm, have a chance at buying it.

Seems kinda cold to ask to get it for free, Donna how that would go over, but I bet a lot of your uncles, aunts, siblings, and cousins would have a REAL opinion of your request to get a million or two bucks handed straight to you and not split with any others!

Paul
 

Too many people think it is their Birthright to get whatever their ancestors have----In my opinion the ONLY birthright anybody has is the right to use your FATHERS LAST NAME!!!!!!!!!!!!
 
before my great grandparents passed i ask them about things they had and what it ment to me to get them after they passed on and i got everything that i had ask for
 
Sometimes things don't go as they should. My late FIL moved back to the family farm when his parents couldn't farm do to health issues. He did everything along with his wife for 16 years.
Instead of willing the farm to him they decided to sell it. Anything of value was gathered up by his sister and brother and never helped on the farm. He worked on a farm for awhile then found employment with the US government and retired from there.

My late brother's fifth wife wanted the rancher where my mother and sister were still living. She was told more or less to get lost. She wanted it to sell. My nephew inherited the home
in 2008. Hal
 
Hahahahhahaha, you just described my wife's side of the family, her sister and brother can't wait to see what they can get from dad, when he kicks the bucket., Lol, sad part is, as much of a greedy user my sister in law is, shell get a big chunk, from daddy! On top of all she has already got outta him.
 
Man what a grouchy old bunch you are. I would just them that I love the farm and farming and would thrilled to own it someday. Don't say when you pass on it really hits them hard.
Ask if you can farm a part of it now to let them know that you are serious. I have a friend who will get mine someday he puts in a lot work here when he can my wife doesn't think he works hard enough but I see what he does. Makes me happy that it will continue to be farmed not broken up for housing like my grandfathers.
Walt
 
I told my Dad, when his sister was buying my Gandparents farm, that I was interested in it too. Made no difference, as my Grandparents had no interest in me anyway, so my uncle got it for a song. The Grandparents got a new manufactured house to live in with life time rights, BUT that did them no good when they each had to be in a nursing home at the end, so they spent all their money on the last days of life. You need to talk to your Grandparents and parents, not us. Hopefully you will get a better result then I did!
 
Take out a large life insurance police on them,the death tax rate is to go to 53% Jan 1
 
Be careful what you ask for. If for some reason you get the farm, go to a lawyer when the old folks are still alive. Mom and Dad left what is left of the farm to my brother and myself. To split the remaining almost four acres so my brother gets his half, and me the other is going cost around 350,000.00 That's right folks our city, and state government at work, and nothing we can do about it. My only hope is I can sell a 1/2 acre building sight for that much, and get my money back. It would have been so easy for Dad to split it 30 years back, but he didn't. Stan
 
I once thought I was in line to inherit some land one time form a neighbor. They had no other family and I had done a lot of things for them through the years. At one time I wanted to buy the farm but was to told to wait, they would take care of me. Fast forward a couple years and another neighbor shows up. Almost moves in with them and in the end he inherited the land. Don't hold your breath that it will happen for you.
 
Your parents and any of their siblings are ahead of you as far any inheritance but in most cases, the inheritance will be split and if someone wants to purchase something that was split, they would have to buy out the other heirs. This is where things can get get really ugly! I inherited a 1/4 of my fathers acreage but had to buy out my 3 siblings based on fair market value. I had first choice because I lived there the longest and did the most work there to help my dad. Usually only in cases where someone was extremely wealthy is anything of significant value just given away. If you have siblings and you get the farm, what do they get that's equivalent?
 
Mom's family divided up the property many years ago so there couldn't be any fussin'. Each was deeded their share but my grandparents retained lifetime rights to the place. They continued to live just like they had and took care of it, paying taxes unless their children took that over. Then when they both passed, there were no estate taxes to deal with. Yes, they had to pay the cost of having the deeds drawn, paid tax at that time(a LOT less than estate tax). It was all done with all of them sitting in one room. Nobody felt left out or cheated. I've had to try to buy back what I can afford to keep it all together now.
 
If you plan your life around an inheritance, you will probably be disappointed. If you ask them for the farm, they might decide to cut you out completely!

It is their property and they can do whatever they want with it. What they decide to do with it might be rational to them - and a bitter disappointment to you.

Just build your own life and don't depend on an inheritance is the best advice anyone can give you.

Besides, it may take all of their money and property to keep them until the end of their days and there will be nothing left for anyone to inherit. My FIL thought that he was well off financially, but after several years in a nursing home, he died totally broke.
 
the one i could say here, is my cousins are facing the same exact thing, and the farm is 180 acres, the problem is these days using traditional farming practices say corn and beans, you cant make a living on those acres, the only way you can is some sort of specialty crop either plant or animal, if you dont farm it you still have the taxes on that property and the fact that its not a producing farm may change the tax rate, on the old farmstead we all grew up on, they cant get bigger as the land on all 4 sides is already owned and producing for bigger farmers and they wont sell any of it, you could subdivide it to rich real estate developers,if your near a town but you'll likely get fought by other land owners , its bad on 2 counts first farmers dont really want rich town folks and their spioled kids raising ned all over there fields on atv's ect, also the biggest problem is the land itself once the land is gone, where will we get our food? city folks and developers think food comes from the big store in town,me id actually like to find a old farmstead with only the acres the buildings are on left, to retire too, plenty of room to store, work on old tractors and all my stuff and probably room for a big garden to eat off of , about all id need
 
I was going to make a similar point. It sounds like this is a young somewhat naive kid. Not some scheming adult. There was a local cattle dealer years ago who had about 100 acres and he always spoke of how he wanted his grandson to have it. Anyways he put off setting things up in terms of getting a will to cover it. The grandson was always polite and never pestered his grandfather. In the end the grandson got nothing.
Again, I would encourage for some openness between grandparent and grandchild. Chances are they have things laid out in their mind already if not on paper. Without upsetting the whole family they could specify while the grandson will not be a primary heir maybe the will could call for him getting a chance to buy the others out.
 
I have a couple people in my family like you and they'll be very surprised as my will says they get $1 each and thats really 98 cents more than they deserve.
Like a couple have posted talk to your grandparents about buying the farm from them if you're really serious not just looking for freebies.It can be a good deal they maintain a life right to the house to live in and you operate the farm and they live off the payments you make to them.
 
Offer to buy it!! Why should anyone expect to inherit anything? If you haven't invested in it, why should anyone "give" there hard work and investment to you?
 
All you can do is ask. (Hopefully in a respectful way, leaving death out of it!)

Ask them what their long term plans are for the farm.

Let them know that you're interested in it. If they're ever ready to downsize, you'd like to talk about buying them out.

I don't care how much work you do there, or what you do to help them out. You have to separate that.

What you've done is a good deed. NOT labor for delayed repayment. If it IS done with hopes of payment later - you need to discuss that right up front - not AFTER the fact!

Remember that to a grandparent - all are equal. They don't want to get into picking favorites and who's going to get what. And it's not fair to expect them to, even if there's a reason they should.

It's very likely their preferred method of passing on the farm is to sell it and distribute the procedes evenly - nice and simple.

The best you should hope for is to have first right of refusal on buying them out. And maybe even a reduced price since you're family - but in fairness to the rest of you family, it should be offered to all of them as well.

the absolute worst thing you can do is make them worry about it!!!! Don't ever let them think there's going to be hard feelings over the land THEY own.

It's one thing to hope for an inheritance, but entirely different to EXPECT one. If I ever had a grandkid (not that I have any) come asking me if I was going to leave my land to him, I think I'd donate it it to the nearest charity instead.

While they age, be sure to save enough money to be able to act on it. If they've got a lot of time ahead of them, that's great.

You can be ready for that day when a decision has to be made - be able to say "here, I've got the cash, I'll pay a fair price", or if it's after they pass away - have enough cash, minus what would have been your share, to buy everybody else out.

Again - unless you're there every day as a caretaker - FORGET about any kind of compensation unless you agreed to it up front. It's not fair to anybody.
 
Don't want to get too personal or insulting,but you sound like my worthless fat azz deadbeat sister who thinks she should get my mothers house since the rest of us already own ours. Well,she had one too until she ran out on her husband.
The other potential heirs have a stake in it too,if you want it,buy it. I did.
 
You might be better of buying it from them. Start now with a yearly payment with a one dollar buyout when they pass, you can write off the paymens they get a some income and a place to live. No one can complain in your family since you are buying it from them. Talk to them now and write up a contract that you both can bennifit from, worst they can say is no.
 
(quoted from post at 18:18:00 12/16/12) What makes you think you desrve to inherit the farm, your grandparents worked their entire lives to acquire what they have. Why should you not do the same? If your concerned that your grandfather might sell you should position yourself to buy. I would not ask them if you can have the farm, but would ask about the possibility of buying on contract.
Click to expand...

Well said Erik
 
1st Your post makes you sound young. You ignore the fact that there are others involved who may or may not thing the deserve "their fair share".

I've seen in my wifes family a real mess go on over land.

2. If you want it tht bad then talk to everyone and let them know that you are going to talk to your grand parents about buying it.

3. Best bet is to see if they may let you have it contract for deed and don't miss any payments.

Don't expect for everyone to go along with this. Others may think you are getting over on them.

Rick
 
yes i am kid. i know my grandparents love all of use the same but 2 cousins have been in jail and stolen from the family, on is a genius the other really smart but a bit large on video games and my sister dosnt really care about it. 3 younger cousins live in worthington and will never see a woring farm except for my house now. i talked to sevral other and my mother and she is ok with it along with 2 of my uncles. i would like to inhearte it becuase land isnt cheap here in central ohio. i would probley buy most of the tractors and equitment. i would rent it now and farm it with some equitment i have but i dont make enough baleing. i talked to a lady at our church last night and she gave some advice too
 
there is some addtional land behind my parents ground that is about 50 acres they are interested in. i would be willing to buy the farm off of them if i could get the chance. i dont want the farm bought up by BTOS and have the house and barns bulldozed. i just want it to be ept in the family and farmed by a decendnt.not some guy witha huge planter and assorted other things who doesnt know some of the little things i have learned from grandpa and gradma. like about the early years maeing ends meet and being followed by a creatuer when plowing at night. i could let my other relatives have the ground they are entilted to and see if i could rent it off of them, personally i think the bigger fight would be for the '65 mustang which i am not interested in
 
Not sure why so many are jumping down the kid's throat. Yes reality and dreams seldom are the same.

How many here dreamed about getting the family farm when they were a kid?

How many here are going to sell all their assets before they die and take the money with them in the casket?

How and what someone does with their things is a personal decision, but no one lives forever and someone else WILL be getting your stuff when you die.

EDIT: I have my will done...I know where my stuff will go...do you?

Someone WILL be getting this farm, whether it's sold or given away while the owner is alive or dead.

To the OP, If you don't speak up, your voice won't be heard. Lots of things can and will happen between now and death. Don't plan your life around getting the place, especially with another generation between you and them. Nothing will bring long lost relatives out of the woodwork quicker than a funeral and money changes everything amongst those who are getting along good now.... If your grandparents decide to let you have the place, then that is their decision.
 
I don`t know how old you are, or how much farming you have done, or what your grandparents attitude on willing the farm is, but let them know how you feel, and keep working hard on the farm, without expecting a payout. In addition to working rented ground, I am working a 160 acre homestead that belongs to some old friends of the family, and it has been willed to me. I tried to buy it, because the 87 year old widow that owns it only wants to see it farmed, and her kids have all stated they will bulldoze her house and subdivide the land when she goes. I did not ask for the land, but she knows I love the land, and that it is a place I want to make a home, not just clear-cut it and make a buck. Like a rancher friend of ours says, fair is not always equal. When he dies his share of the ranch goes to his youngest son, because the youngest still works the ranch, and knows cows, the oldest does not. Talk to your grandparents, let them know why, and realize you are starting down a long, hard, thankless road.
 
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