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[Gene GeRue <genegerue AT ruralize.com>]

Heartwood ownership is evidenced by a family trust. We got our basic  
info and document format from a book on the subject published by Nolo  
Press, in Berkeley.

Our whole family "owns" these 130 acres. Chris and I are the trustees  
until we give that power to others or die. Now having experienced the  
many problems of dealing with a demented parent's real property  
without legal authority, we will likely appoint trustees while we are  
still in robust health.

We hope that a child or grandchild or two will live here at least part  
of the year but that is not essential. As long as a friend or  
caretaker is here for security, the others can use it as a vacation  
place, a place to write a book, a place to paint paintings, or do any  
other creative pursuit. The modest property taxes will be paid by an  
equally modest investment account.

We think of Heartwood as an ongoing family legacy property. I have  
little doubt that, as the world becomes ever more crazy, a quiet,  
private place of substantial acreage in beautiful surroundings will  
become ever more desirable.

One of the many plusses of such a trust is knowing that the extra care  
taken in planning and building, whether structures or landscaping,  
will long benefit our progeny. It is a fine feeling.

Gene GeRue
www.RURALIZE.com
(New Ruralize page begun, see link at top of original site.
We welcome your suggestions for improvements.)


On Jul 25, 2009, at 1:29 PM, Robert Walton wrote:

> > >
> > How does that work? If one child uses the land, what does the other  
> > get as
> > an inheritance? I have two kids, but only one is likely to stay on  
> > the
> > land.
> > I'd like to set it up so they each get something and don't have to  
> > jump
> > through hoops after I'm gone.
> > >
>
> I did some Googling on living trusts and it seems it avoids probate  
> and the
> cost and taxes of that. That seems good. Also seems that the  
> paperwork can
> be done without a lawyer or much time form a lawyer.
>
> I guess for me it's finding an heir. I should have another 20 to 30  
> years in
> me. I'd like to have someone identified and living here in 10 years.  
> There
> is a good building site in the woods with a drive to it. Would be a  
> good
> place for a starter cabin.
>
> Rob - Va
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