I agree, discuss this with a well seasoned, experienced vet.  I would also take the time to go to some farms that have experienced stallion handlers and talk to them.  Even gelding the guy isn't going to change his 'tude right away.  I would say 95% of all stallions at some time exhibit the 'tude.  It is how you address it that can cause behavior problems.  Trying to man handle a stud will get you hurt and ingrain bad behavior.   They require utmost respect.  There are the few that act totally like geldings, but those honestly are few and far between.   I strongly advise you to get with a professional trainer as well to discuss working with you and the stallion for a while, supervision during transition is the best thing you can do.  The stallion needs to learn you, respect you, and trust you.  It will take quite some time, especially since he will be quite set in "his" ways already.

Also be prepared for him to be hard on your fences and stalls.  Even after gelding, he will have some testosterone in him for quite some time and can impregnate a mare.  I had a very well mild mannered stallion on our property, was very respectful, highly trained, but one day the neighbors mare was in heat and he went bezerk, he busted out of his tall, tore up my barn, and tore down several fences to get to her.  Also we had mares in heat at our place, but he wanted something on the other side of the fence.  It is just like men, not all women will attract them, some give off more estrogen scents then others, and the guy will want to go after her.

This same stud also went through several oak boards to get to a draft mare in heat.  After that I called the owner and had him removed.  I suffered at least $5000 in property damage, that to this day has not been remedied. 

The moral of the story is, no matter how well trained, mannered, etc a stallion may seem, they can turn when you least expect it.  Plus if they want something bad enough, they will hurt themselves to get to it.  Breeding sometimes clouds their judgement and the instinct to reprocreate is stronger than their bond with their human. 

So just be cautious, and get LOTS of help, and spend time with breeders, trainers and most of get supervision while handling him!

We gelded one at 14.  Surgery went well but 6 months later, he impaled himself on a fence post trying to get to a mare.  This is just one bad experience.  I am sure there are plenty of folks who have had better luck.  Just be very careful where you keep him afterwards.

RIDE ON!

A lawsuit would work.  Next time one gets loose, file charges for property damage, and criminal trespass.   They have a legal obligation to ensure these horses are kept in safe, sturdy, enclosures.  If they escape and do damage to your property, they are legally obligated to compensate you for the repairs.  If they are aware their horses get out, and you can prove this (ie: surveillance cameras showing this is a frequent thing) you can have them charged with criminal trespass in some states or willful endangerment of others. 

Also check with your state, as some states require you to have liability insurance if you own a stallion. 

they are never too old to be gelded!   As several others have said make sure you consult w/ a good equine vet, and probably have it done in a surgical facility rather than out in the field.

a friend had her 17 yr old breeding stallion gelded and it's taken about a year for him to not act studdy but he's fine now, you'd never know he'd recently been intact.