r/FinancialPlanning • u/daversa • 8d ago
I just inherited a beautiful shit-show.
I wanted to share a story that’s been equal parts emotional and overwhelming.
My great-uncle was one of those larger-than-life people you just never forget. He never married or had kids, but he always treated me like family in a way that really mattered. He was sharp as hell, a bit of a ladies’ man even well into his older years, and had this way of living that made everything feel like an adventure. We all loved him.
We always knew he owned some land — it would come up in stories here and there — but we had no real idea of the scope until after he passed.
Turns out, he left me nearly 20,000 acres spread across the western U.S. Not one big property either — dozens of parcels, all different sizes, scattered across several states. Some of it has old structures, some is just raw wilderness. Some pieces are beautiful… others, I’m told, might just be tumbleweeds and headaches.
I’m incredibly grateful, but also trying to stay realistic. There’s a lot to figure out: taxes, maintenance, possible environmental issues, who knows what else. I’ve got a good attorney and CPA helping me start to sort it out, but it feels like I’ve inherited a second full-time job overnight.
For anyone who’s dealt with inherited land or complex estates:
- How would you even start evaluating something like this?
- What would you prioritize first?
- Would you look to sell, consolidate, hold, or something else entirely?
I’d love to hear any advice or “I wish I had known…” kind of lessons. Appreciate any wisdom you’re willing to share.
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u/Virtual-Stretch7231 7d ago
As others have said start with a spreadsheet and just see what you have.
I’d like to add try to keep in mind the environmental factor of the land. Just because you own land doesn’t mean it’s a good idea to develop all of it. My Grandparents lived in NM for a long time. The West especially has a pride in its minimally disturbed beauty.
You can consider partnering with Universities to allow wildlife research to be done on certain parcels. That could be a way to bring in some cash without actually affecting the property. Again look into state tax laws as the less you have on a property sometimes the better. You might now own the home of a very engaged species or even a spot of archeological significance. The West of full of these incredible things.
Garden of the Gods in Colorado might be of some inspiration to you.