alligatorob
Member
Louisiana or Florida
My father has asked me to get help him set up a living trust he can use to pass the family farm on to my brothers and I. The farm is in Louisiana and we all live in Florida.
Do I use a Florida or Louisiana form? Which state's laws apply?
No idea what the land is worth, not a fortune, its been rented to adjacent farmers for almost 100 years. The rent is based on a % of crop yield but he's never collected more than about $3,000 in a year. It's about 60 acres of rice land with no improvements, just farmed as part of a much larger piece of land. Probably worth less than $100k, based on income history a lot less. Keeping it in the family is more a sentimental thing than anything else, its been in our family a long time.
My step mother is a retired lawyer and she's helping, but she has never done real estate law and never practiced in Louisiana or Florida.
My father has asked me to get help him set up a living trust he can use to pass the family farm on to my brothers and I. The farm is in Louisiana and we all live in Florida.
Do I use a Florida or Louisiana form? Which state's laws apply?
No idea what the land is worth, not a fortune, its been rented to adjacent farmers for almost 100 years. The rent is based on a % of crop yield but he's never collected more than about $3,000 in a year. It's about 60 acres of rice land with no improvements, just farmed as part of a much larger piece of land. Probably worth less than $100k, based on income history a lot less. Keeping it in the family is more a sentimental thing than anything else, its been in our family a long time.
My step mother is a retired lawyer and she's helping, but she has never done real estate law and never practiced in Louisiana or Florida.