Estate planning
My father wants his property (a smallish farm) to stay in the family after his death. He fears that a son will not respect his wishes, but my father doesn't want to disinherit his oldest son. The family consists of both parents, five living children, eleven grandchildren. A deceased brother and his heirs were removed from the will. How do we insure that the property remains in the family, yet all siblings be treated fairly? Thanks!
Re: Estate planning
Through the use of a trust for the benefit of the children and/or grandchildren or by creating a company to own the farm. However, many times the family can not get along and one or more will want to sell the property and a lawsuit may ensue.
Consider giving other property to the brother that does not have any interest in the farm.
