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The only thing I can think of as far as passing the ranch down is( fair is not equal and equal is not fair.)
saying that my day is coming I have three boys and right now I would say two of them will come back not only that my Grandmother is still living she has three kids and I have two siblings the ranch will be split and possibly split again that is why I bought my own place at least when the ranch goes through its changes I can still run a few cattle. :(
Jinglebob said:
Big Muddy rancher said:
Jinglebob said:
Big Muddy and have my own kids of age where we want to bring them in. We also have 3 to treat fairly. We are not incorporated and it's hard to get a straight answer to whether it would help. Seem to get different answers depending on who you talk to.[/quote said:
We too have 3 sons. One is a Priest and has desire or need to come home except he wants the right to someday build a retirement house here. We sat all three down when they were still fairly young and asked each what he wanted to do and who wanted to come home if any. Only one was interested at the time. We have had this discussion again, about every year or two and the one who never wanted to come home has said at times he would like to live here, but doesn't see ranching as his future. So the other one will end up here unless something changes. We are helping him and his wife to get a paid for herd, by running their cattle as cheaply as we can afford, while he works off the ranch. In the end, the one who stays here will look like he is getting much more money wise than the others. That's just the way it's got to be. I am a firm believer in what my father told me many years ago, when there were 3 of us and I as the youngest, asked about my chances to end up here. His reply was, "I will not leave or sell this place to anyone until they prove to me that can keep it after they get it." So far, that is working here too. Talk about it now, get it settled and let all the kids know that money or property does not equal love for them. Unless you have a big enough place to split evenly and keep the operation supportable, there is no sense splitting it up. All the son's know they have the right to come live here and the two who are not priests know that they can both live here someday, but they can not derive their total income from it as a viable ranch unless something changes dramatically. If one son feels bad because he didn't get to ranch here, I can not feel sorry for him if he will not do what is required to get to be here. His choice. Not mine. So far only one has shown he will do what it takes to starve to death on here as tradition demands. ;-)
 
I am really enjoying this discussion Wish more would join in and give us more "Scenarios".
I to have three kids. I know one won't likely be back to ranch but the other two as much as they love each other they sure don't work well together.
 
Black Out said:
The only thing I can think of as far as passing the ranch down is( fair is not equal and equal is not fair.)
saying that my day is coming I have three boys and right now I would say two of them will come back not only that my Grandmother is still living she has three kids and I have two siblings the ranch will be split and possibly split again that is why I bought my own place at least when the ranch goes through its changes I can still run a few cattle. :(
When talking to my "rancher" son the other day, we discussed some of this. He said that he wants to take a chunk of his calf check every year and set it aside so he can have it when the opportunity comes to move here. I told him he should buy a life insurance policy on me and when I die he will have funds available to buy cattle or land, as this place is really too small for even one family. I suggested he could possibly buy out one brothers share if he felt he should/could and he said if the place was going to be split he would just try and buy another place, so that this one stayed together and in the family, rather than fight over it. That pretty much assures me he has the right mind set to make this place work.

We hope in years to come to get to the position to, if not buy more land, at least make this the winter headquarters and lease or put cattle out. One advantage to leasing versus buying is that all your lease payments are deductible and usually you can lease cheaper than your yearly land payment in this area at least. Who knows, perhaps we will win the lottery and will be able to afford to buy another ranch and what ever the others will need/want.

We have thought about incorporating as then it would belong to all and one would run it and be CEO and we could just leave shares. Seems like my tax man doesn't want me to as there are not any tax benefits to it, if you ever try to get out of the corporation, as I recall he told me. But I can see some advantages also.
 
Jinglebob said:
Black Out said:
The only thing I can think of as far as passing the ranch down is( fair is not equal and equal is not fair.)
saying that my day is coming I have three boys and right now I would say two of them will come back not only that my Grandmother is still living she has three kids and I have two siblings the ranch will be split and possibly split again that is why I bought my own place at least when the ranch goes through its changes I can still run a few cattle. :(
When talking to my "rancher" son the other day, we discussed some of this. He said that he wants to take a chunk of his calf check every year and set it aside so he can have it when the opportunity comes to move here. I told him he should buy a life insurance policy on me and when I die he will have funds available to buy cattle or land, as this place is really too small for even one family. I suggested he could possibly buy out one brothers share if he felt he should/could and he said if the place was going to be split he would just try and buy another place, so that this one stayed together and in the family, rather than fight over it. That pretty much assures me he has the right mind set to make this place work.

We hope in years to come to get to the position to, if not buy more land, at least make this the winter headquarters and lease or put cattle out. One advantage to leasing versus buying is that all your lease payments are deductible and usually you can lease cheaper than your yearly land payment in this area at least. Who knows, perhaps we will win the lottery and will be able to afford to buy another ranch and what ever the others will need/want.

We have thought about incorporating as then it would belong to all and one would run it and be CEO and we could just leave shares. Seems like my tax man doesn't want me to as there are not any tax benefits to it, if you ever try to get out of the corporation, as I recall he told me. But I can see some advantages also.

I have a couple of friends that are in a corperation and are trying to get out can't remember just why though.
 
I am one of 6 kids. The parents gave each of us a house lot to do with as we saw fit. The oldest brother was supposed to get the farm but things did not work out with him and the parents. When I got out of the service in 1994 I started helping the parents with the farm. IN 2000 I had taken over most of the responsiblity of the farm while working fulltime. We formed a partnership with the right of surviorship for cattle and equipment and non land assets. The Parents also gifted me 1/3 ownership of the farmland with the right of surviorship. We lost mom to cancer in 2002 and inherited 1/2 of her share of the farm. The brothers and sisters will split an insurance policy and annutity policy and I will inherit the rest of the farm. The division may not be equal or fair but I have invested the last 18 years of my life making the farm what it is today at the same time the rest of the family has work in their chosen careers.
 
We have kind of gone through the whole passing of the guard. My Granddad had his place set up in a trust. He had 3100 acres, and left each of his 6 children close to $100,000 each. Not bad for buying his first ground by using a sow as a down payment, then having at least 1 person outside of his immediate family live with them. I always thought I would end up with his place, since I was the only one in the entire family that wanted to live 50 miles from any town. My divorce in 92 kinda screwed that all up. Grandpa wasn't about to let a lawyer get into it. Anyway, he died in 1997, and the family parted out the ranch. Got lots of money, but I doubt any of them have anything to show for it.
Then 2 years ago my folks decided they wanted out of their place. Dad broke his back in '83, and has been confined to a wheel chair since. I have 3 siblings. 1 is a Veterinarian in Con. My youngest brother owns trucks in eastern Nebraska, and my little sis is in central Nebraska, where her hubby farms. To make a long story longer, since I am the oldest, and the only one really interested in the Sandhills, they offered to sell it to me. I couldn't make it pencil. 1200 acres, with 200 of it gravity irrigated, just doesn't work. My youngest brother bought it. I hope it works for him. In my opinion, I don't need to work for experience. I am content to run a ranch for an absentee owner, where I can pretty much do as I please, with their money, run a few cows of my own, if I can afford to buy them. And not have to worry about how things are passed from generation to generation.
 
Family troubles are never any fun. I feel your pain Katrina as we have been evicted ourselves. I know my Grandparents can't be too happy to see the way family treats family. We just made the desicion to not get bitter and just do our own thing. It doesn't make it easy but it beats letting it eat you up inside and still not have part of your history/soul/heart. You have never been hard to get along with here. I hope you the best and look forward to having ya come back when ya can. Be Blessed.
 

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