farmerbrown
Dryer sheet wannabe
- Joined
- May 11, 2009
- Messages
- 11
I’m a farmer and my father in law is asking questions that I have no ideas about. My accounting company dose not deal to much with this kind of stuff so they don’t know what to say.
He wants to sell his farm to me witch I have been leasing for 5 years but he wants to sink 90% of the money for the farm into some kind of account for his 6 grandchildren. There ages are 12 to 5 years old and are looking at 3 different families. The price I would pay for the farm would be about $500,000 so were looking at about 65,000 to 70,000 each.
The sell of the farm would only be about 2/3 of his assets at this time. He has been talking about doing this ever since is brother died 9 months ago and seeing how messed up everything got once the family got done with the mess.
I’m thinking that he would have to set up trust funds for them but every time I do a search I end up looking at info for other countries. Is there a better way to do this?
He wants to sell his farm to me witch I have been leasing for 5 years but he wants to sink 90% of the money for the farm into some kind of account for his 6 grandchildren. There ages are 12 to 5 years old and are looking at 3 different families. The price I would pay for the farm would be about $500,000 so were looking at about 65,000 to 70,000 each.
The sell of the farm would only be about 2/3 of his assets at this time. He has been talking about doing this ever since is brother died 9 months ago and seeing how messed up everything got once the family got done with the mess.
I’m thinking that he would have to set up trust funds for them but every time I do a search I end up looking at info for other countries. Is there a better way to do this?