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Reply #79: I absolutely will be when my dad dies. [View All]

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Xithras Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-08-06 05:06 PM
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79. I absolutely will be when my dad dies.
He made it clear that the family ranch on the Oregon coast is to STAY in the family when he dies. My three sisters made a HUGE mistake and tried to get him to accept that they didn't want the property and that it would be sold off. I love the ranch and would never consider selling it, so my dad rewrote his will to leave it to me alone (worth a couple million dollars today...it's just outside Newport..., and about 80% of his total estate). My sisters were livid when they found this out, and one made it very clear that she would be suing to get the property sold or subdivided equally, so that they could sell their parts. They don't know it yet, but my dad and I cut that one off too by taking out a conservation easement on the property. Not only will the easement save me tens of thousands in estate taxes, but it makes it worthless for subdividing. The conservation agreement specifically prohibits real-estate development outside of the original homesite, subdividing the land, or any non-logging activities which negatively impact the relatively pristine property.

Not telling them about the easement is tough, but my dad doesn't want it mentioned. My sisters plan on using the funds to pay off their mortgages, put their kids through college, and take long vacations, and I can only imagine what's going to happen when the truth is revealed to them.
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