Can't add much to this as I have no personal experience, both sets of our parents are still alive, mine are fading as is her dad, but her mother is still thriving and driving a 30' motor home to Florida and back every year (from Central Ohio), among other things.
It sounds like you should be very greatful for what your parents are giving to you and your brother and that your other siblings are going along with it. My family just had a small hobby type farm that Dad had to sell when he retired from his city job many years ago. We only owned six acres but farmed about 300. He sold it out to a friend who built a mega nursing home on it. Had Dad waited the land alone might be worth a $1 million or so today but he wanted the money out of it then. Now my sister is taking care of the folks, living with them for the past several years. I expect they will leave the house to her, and they probably should (although she's lived rent and board free for all that time). Actually she should be in jail as she stole a considerable sum from our brother when she worked for him in a heating/cooling business and fled the state (long story I won't go into). Upshot is I don't expect much from their estate, not much will be left by the time they pass. Besides, there are six kids so even divided up evenly there won't be much.
My wife's mother talked about setting up a trust, to minimize the taxes and shield their assets from the nursing home should it come to that (her dad is probably a few years from the point of needing it), but I fear it may be too late to be valid. She's not brought it up again and I've urged the wife to at least talk to them about their estate and what they have planned for it. She's very reluctant to talk about it, I guess I understand, but hope someone knows what to do should they suddenly pass on.
You are in a very good situation, be happy for yourself and your family and your parents. Best wishes!
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Today's Featured Article - Harvestin Hay: The Early Years (Part 2) - by Pat Browning. The summer of 1950 was the start of a new era in farming for our family. I was thirteen, and Kathy (my oldest sister) was seven. At this age, I believed tractor farming was the only way, hot stuff -- and given a chance I probably would have used the tractor, Dad's first, a 1936 Model "A" John Deere, to go bring in the cows! And I think Dad was ready for some automation too. And so it was that we acquired a good, used J. I. Case, wire tie hay baler. In addition to a person to drive th
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