Dear Michael: Years ago you worked on my mother’s estate. She had a will that divided everything by 25 percent each to four children. One was – and still is – farming. My mom had set it up so our brother on the farm could buy out the other children on very favorable terms – low interest, contract for deed, and low cost on the land purchase. Our problem is, even though Mom set up her estate to make it so easy for our brother, he still hasn’t – in four years – even broached the subject with us. He has not mentioned the money owed. In Mom’s will, she stated my farming brother had a year to begin the purchase. Since more than four years have passed, does this mean the favorable price and terms are no longer valid due to a breach of contract? – Now What
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Michael Baron provides estate planning guidance at Great Plains Diversified Services in Bismarck, North Dakota. Email him at KeeptheFamilyFarm@gmail.com.





