Ties to the Land: Your Family Forest Heritage

[Frank Pender - AKA "Tail Gunner"]

Frank and I have been attending a workshop on planning for an orderly transition of our family forest tree farm.  It is helping us work through a lot of the problem question areas when you have some children who want to keep the farm, some who want the farm but do not have any resources, and some who are very successful in their careers and whose plans do not include coming back to the farm.  And our farm is not big enough to generate a lot of income for numerous owners, as it is for us, so the estate planning and how to maintain the land after we are gone are important issues to us.

He wanted me to share the web site information with anyone who might be interested in this.  Clint Bentz, the accountant and one of the prime contributors to this series, was the National Tree Farmer of the Year recently, and practices what he shares here.

Ties to the Land:  Your Family Forest Heritage information can be found at www.familybusinessonline.org/resources/ttl/home.htm

Alice Pender

[Kirk Allen]

Welcome to the site Mrs. Pender and thanks so much for posting the link. 

Looks like some great information.  I wish my grandparents would have prepared better.  My hats off to you for your efforts!   

[Frank Pender - AKA "Tail Gunner"]

What's this Mrs. Pender business?  Do not spoil her, Kirk.  I will have to deal with it, you know. 

[mike p]

helo alice   im expecting a mess when dad goes as he is all about money & not about the land. his 160 acres will some how devide among 3 of us, 2 in denver . my sister owns a day care & my brother the realestate /landlord tycoon & me. my place shairs fences with dad's

good luck

[Kirk Allen]

Tighten your belt Mike and prepare

We have been blessed to have parents that unfortunatly went through these challenges with their parents passing so they took measures to ensure it doesnt ever become a problem. 

[Frank Pender - AKA "Tail Gunner"]

For the sake of future relations, please take a look at the program.  Get in touch with the National Tree Farm System folks.  Clint is the President this year and he has lived through everthing presented along with the other man, who is a consultant and teaches to such things at Oregon State University.  His family land is in Minnisota, I beleive,  I would suggest that you work through some of your extension service folks and your local Tree Farm organizations. 

I cannot urge this approach much stronger.  I was fortunate enought to have had folks that were wise in setting up a trust and such to disperse the remains to the five of us siblings in my family.

I can purchase the dvd programs (I think that is what they are called) and
 workbooks; to send off to those who are interested.  I will find out the costs and let you all know, if you are interested.  It may well be some of the best dollars you have spent in you lifetime or the dollars put out by your parents for you and your siblings. 

As I may have mentioned earlier, Clint is a good friend of mine.  I have known him well over 20 years and he has been my accountant for better than the last five years.  Money well spent, as far as I am concerned.

If you only scratch the surface for what is being suggested in communicating with your family over such issues, it is a wonderful investment in time, with all of them .

[mike p]

last time my brother was here he wanted to walk in woods with me on the way back to house he coments on the best place to put a development road in . i was fumming
my dads wife of 10 years thinks everyone is out for her & dad has hidden all info on the transfer / will , he says your all find out after its to late

[Frank Pender - AKA "Tail Gunner"]

It sounds as though you have some real challenges Mike P..

[Frank Pender - AKA "Tail Gunner"]

Here is one for all of you folks to try and get your minds around.

If we were to pass on right now and the five folks in line for this Tree Farm would each receive around $500,000 when just the land was sold.  If you were to add in all my junque, my two boys would get an additional $100,000 each.

This all scares the dickens out of me.  Why?  That part is worse than the "dickens".

[Stevem]

Frank, I hope you have a good understanding with all those in line and I hope they all understand how you and Alice want things handled.  People do strange things when it comes to money things.

I've seen families totally torn apart over estate settlements (mine).  When my parents died their intent was give everything to the grand kids and bypass the kids,  all well and good by me.  Wasn't a big deal as only about $7000 to each grand kid, two of mine, and five more. 

Had a sister that talked mom into signing over, a power of attorney,  the car, mobile home, realestate and access to the check book after my father died and she was staying with her.  Now this sister had already gone through a large insurance settlement for a wrongful death of her husband and was trying to get the interest part of her sons trust fund from the same death. 
The day my mother died a large check was written on the checking account and the other assets wound up tied up in her care.  Her son got the lions share of other assets and the other kids were shorted by the $7000 each.  She was never welcome in my house after that and never tried to contact us.  She died last year and her son won't respond to our out reach. 
I find it really strange what some people consider a large sum of money and what they will give up for it or do to get it.
I've had a touch of gold fever with real gold (got over it quickly) and the mind really goes irrational when it come to some forms of perceived wealth. 

     

[Frank Pender - AKA "Tail Gunner"]

I would like to think the understanding is there, however the chances are like you said with your experience, Steve.

[Kirk Allen]

We saw it with my Grandparents place.  My aunt and uncle HAD to seel off the farm as the stock market was where the money was.  They sold off there portion and have lost it all.  They are now regreting selling what we all begged them to keep.   

[Frank Pender - AKA "Tail Gunner"]

I am sure pleased with the number of hits on this issue.  It makes me feel great that this topic could well be helping folks out with their inheritance issues.   

[Kirk Allen]

If only those passing stuff on would follow the advice!

[Frank Pender - AKA "Tail Gunner"]

I am trying to follow the advice, as both Alice and I have/are taking the classes involved with the site.