[AT] OT Irrevocable Trusts and Land and Family...

[Lyle Myles]

I do not know where you live but Mercer University located in Georgia is one
of the largest law schools in the United States. You can find them online or
call your local college for their phone number and they have a department
that you can contact that will check over what you are trying to do and the
cost is reasonable. It you are interested in going this route and cannot
find the information then let me know. Now I'm at Rhodes State studying to
become a paralegal. You can contact me off list at lyle45859 at peoplepc.com 

Lyle Myles

May the Lord be with each and everyone this beautiful day that the Lord has
given each and every one of us to enjoy and behold!

 


-----Original Message-----
From: at-bounces at lists.antique-tractor.com
[mailto:at-bounces at lists.antique-tractor.com] On Behalf Of
william.neff.powell at comcast.net
Sent: Friday, August 18, 2006 12:05 PM
To: Antique tractor email discussion group
Subject: RE: [AT] OT Irrevocable Trusts and Land and Family...

Ok, 

Well, I failed to mention that we have retained a lawyer and met with him.
We discussed all possibilities, corporations, trusts, etc... 

The transfer of the land, deeds, and the Trust will be created by the
lawyer. The specific bylaws were put on us to create. Every piece of
property has its own quirks....   I have found a few samples on line but
none specifically geared toward family land. 

I have a rough draft and have found that when you put the bylaws down on
paper it makes you think about all possible scenarios.... Tax payments,
usage, maintenance, rule enforcement, etc... I am not buying in until I feel
comfortable with the rules...

I can see where this type of arrangement can get sticky.... My brother is
already looking questionable on this... And thats OK. Personally I want all
members on the same page. Better now than after the agreement.... I
appreciate the comments and keep them coming...

Regards,

Will
 -------------- Original message ----------------------
From: "Larry D. Goss" <rlgoss at evansville.net>
> AMEN!  Farmer took the words right out of my mouth.  Even with competent
> legal advice things can go wrong because of unforeseen things such as
> the untimely death of one of the parties to the agreement.  And don't
> just pick a family friend or play darts with the yellow pages.  Go down
> to the courthouse and talk to the county clerk.  Find out who the
> attorneys are who really specialize in real estate.  The courthouse
> workers know who these people are and which ones do a decent job.
> 
> Larry 
> 
> -----Original Message-----
> From: at-bounces at lists.antique-tractor.com
> [mailto:at-bounces at lists.antique-tractor.com] On Behalf Of Indiana
> Robinson
> Sent: Friday, August 18, 2006 9:13 AM
> To: Antique tractor email discussion group
> Subject: Re: [AT] OT Irrovicable Trusts and Land and Family...
> 
> On 18 Aug 2006 at 11:04, william.neff.powell at comcast.n wrote:
> 
> > Hello,
> > 
> > Some what tractor related in that I use some tractors on some family
> land that we are trying to sort out..... We have an 8n, WD, and D2 that
> we with on the property.
> > 
> > My Father and Aunt owns the land that was inherited from my
> grandfather. My Aunt has ended up in financial distress and wants out of
> the land. It is 100 acres with a cabin and a fair value is $1000.00 per
> acre. The land is owned under "Right of Survivorship" (Thats another
> story...)
> > 
> > My father wants his four children to buy into the Aunts half. We
> talked about some ways to set it up and we are leaning toward a Trust.
> When my father passes his half will be equaly distributed into the
> trust.
> > 
> > Has anyone done anything like this? I want to make sure this is done
> right before I sign off on the deal. I am trying to write up bylaws to
> spell out usage and every eventuallity that may occur. I want to avoid
> any arguments after our agreement. There are some strong opinions amoung
> the 4 children but in theory we all want the same outcome. 
> > 
> > Does anyone have bylaws that work for multi trust membership? 
> > 
> > Any information will be helpfull..
> > 
> > Regards,
> > 
> > Will Powell
> 
> 
> 
> 	Lawyer...
> 
> 	I am the biggest do-it-yourselfer around but in this case
>  the answer is "lawyer"...
> 	
> Note: I used to be a licensed real estate broker...  talk to a lawyer...
> 
> 
> --
> "farmer"
> 
> "The greatest mistake you can make in life is to be 
> continually fearing you will make one."
> Elbert Hubbard (1856 - 1915)
> 
> 
> Refurbished Shopsmith's
> Good used SPT's
> http://www.indiana-robinson.0catch.com/
> 
> 
> Francis Robinson
> Central Indiana, USA
> robinson at svs.net
> 
> 
> _______________________________________________
> AT mailing list
> Remembering Our Friend Cecil Monson 11-4-2005
> http://www.antique-tractor.com/mailman/listinfo/at
> 
> _______________________________________________
> AT mailing list
> Remembering Our Friend Cecil Monson 11-4-2005
> http://www.antique-tractor.com/mailman/listinfo/at


_______________________________________________
AT mailing list
Remembering Our Friend Cecil Monson 11-4-2005
http://www.antique-tractor.com/mailman/listinfo/at