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

[Mike Sloane]

As much as I have no special love for lawyers, I think that this is a 
job for an attorney who has some expertise in this area. Anything else 
would be inviting problems down the line.

Mike

william.neff.powell at comcast.net 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


-- 
Mike Sloane
Allamuchy NJ
<mikesloane at verizon.net>
Website: <www.geocities.com/mikesloane>
Images: <www.fotki.com/mikesloane>

Ignorance, allied with power, is the most ferocious
enemy justice can have. -James Baldwin, writer (1924-1987)


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