University of Maryland Extension

Help, I Just Inherited the Family Farm With My Siblings. Now What?

Author: 
Paul Goeringer
Post date: 
May 31, 2016

Photo by Edwin Remsberg

This post is not legal advice

            I continue discussing issues which can arise with family farm transitions and estate planning.  A common situation is that siblings inherit farmland through intestacy (dying without a valid will or property outside the will) or a will specifies a quarter interest in the farm to X and the remaining three-quarters to Y.  In each case, the farmland would be inherited as tenants in common, which can add complexity to managing the farmland.

To continue reading click over to the Maryland Risk Management Education Blog.

Tags: 
estate planning
cotenants
tenancy in common
intestacy
farm succession planning
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Farm Transitions and Estate Planning

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