Posted by 2510Paul on December 16, 2018 at 07:41:50 from (173.202.140.238):
In Reply to: Sad to see it go posted by nrowles on December 16, 2018 at 06:26:45:
I feel bad for you. You obviously have an interest. You know, everyone is different. Some are proactive in those matters and many, if not most, are not and either don't want to spend the money or trust anyone to help them. My wife and I have seen both sides now.
My 93 year old mother died this May but given her proactive planning back in the late 90's the farm was never in danger. I know you are trying to pass on lesson's learned nrowles, so let me pile on and encourage people to have a plan. Like I tell my neighbors, if you don't have a plan the government/establishment does, just for you.
So nrowles, are there others interested in keeping some part of the farm? If so maybe you could establish a partnership with shares and buy some or all of it. Each partner would own shares proportional to his/her contribution. Just a thought. As long as the farm hasn't been sold yet there might still be time. Talk to whoever is settling the estate and an estate planning lawyer.
The $11,000 for a nursing home is about what it would be around here if there are a lot of additional services needed and at age 94 how could it be otherwise. So don't let anyone question you regarding the cost. Every situation is different.
Oh, there is some other good advice below. My mother-in-law's house was not sold until well after the money had run out. The Nursing Home got their money later, once the house was sold.
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