DLM Wow lots of good questions. FWIW in my professional legal opinion as a practicing estate, estate planning and elder law attorney with so much at stake, THIS IS NOT THE PLACE TO SEEK LEGAL ADVICE including from myself included not having gathered all the relevant facts and evidence nor consulted with your uncle for HIS wishes, nor researched your states laws. That being said I will briefly address a few of your statements.
1) My uncle is nearing end of life and still owns the house and part of the farm my grandparents bought in 1946
Looks like HE still owns it, and if so, and its up to him what to do NOT anyone else. It is HE who needs legal advice
2) End of life care should not eat through savings and into any property value.
How does you or anyone know that for a fact ?????????? but if it does its a bit late now to prevent it, there are legal estate planning procedures to help preserve assets most of which need to be completed FIVE YEARS AGO. They are a bit complicated and cant NOT be covered here WELL DUH LOL
3) My mom is named in his will.
Named as what to receive what ??? That could have already been changed or charged tomorrow. How do you know if the will is even valid ???
4) Would the best mechanism for this be to put the property into a trust?
ANSWER MAYBE YES MAYBE NO It depends on several factors and your uncles wishes THIS CAN NOT BE ANSWERED HERE BY AN ATTORNEY OR STRANGERS/ There are a ton of facts and circumstances and legal research needed before that question can be best professionally answered
BOTTOM LINE your Uncle THE PROPERTY OWNER needs to seek competent professional legal advice with this much at stake.
I have planned several estates and NO TWO WERE ALIKE. Whats best for Billy Bob on here may be the exact opposite for Bubba. Does your Uncle want a plan best for HIM and HIS wishes orrrrrrr what was best for some stranger on here??? There are times when a Trust is good and others where it is not PERIOD. I can avoid probate and protect assets for clients with or without a trust IT ALL DEPENDS ON A LOT OF CIRCUMSTANCES.
DLW I like the idea of keeping a farm in the family and if your uncle wants that ?????????????? there are legal ways to accomplish all or part of such BUT THAT TAKES A LOT OF PLANNING AND COMPLEX LEGAL MANEUVERS that can in no way be addressed here
You have good ideas and I wish you and your uncle the best but at least consider having him seek professional legal advice and DO NOT take action based solely on what some stranger (not privvy to all the necessary facts and uncles wishes) says on here ME INCLUDED !!!!!!!!!!
Best wishes and God Bless, now do as you and your uncle please that's what matters NOT me or anyone here
Upload one or more videos to your post. Photo and video filesizes should be less than 5MB. Formats allowed are gif, jpg, png, ogg, mp4, mov, and avi. Be sure to use filenames without spaces or special characters, and filetypes of 3 digits lower case.
We sell tractor parts! We have the parts you need to repair your tractor - the right parts. Our low prices and years of research make us your best choice when you need parts. Shop Online Today. [ About Us ]
Today's Featured Article - Listening to Your Tractor - by Curtis Von Fange. Years ago there was a TV show about a talking car. Unless you are from another planet, physically or otherwise, I don’t think our internal combustion buddies will talk and tell us their problems. But, on the other hand, there is a secret language that our mechanical companions readily do speak. It is an interesting form of communication that involves all the senses of the listener. In this series we are going to investigate and learn the basic rudimentary skills of understanding this lingo.
... [Read Article]
Latest Ad:
2022 John Deere 5045E, 4wd, front end loader and 3rd function with grapple. 120 hrs, 55k new, must sell
[More Ads]
All Rights Reserved. Reproduction of any part of this website, including design and content, without written permission is strictly prohibited. Trade Marks and Trade Names contained and used in this Website are those of others, and are used in this Website in a descriptive sense to refer to the products of others. Use of this Web site constitutes acceptance of our User Agreement and Privacy Policy
TRADEMARK DISCLAIMER: Tradenames and Trademarks referred to within Yesterday's Tractor Co. products and within the Yesterday's Tractor Co. websites are the property of their respective trademark holders. None of these trademark holders are affiliated with Yesterday's Tractor Co., our products, or our website nor are we sponsored by them. John Deere and its logos are the registered trademarks of the John Deere Corporation. Agco, Agco Allis, White, Massey Ferguson and their logos are the registered trademarks of AGCO Corporation. Case, Case-IH, Farmall, International Harvester, New Holland and their logos are registered trademarks of CNH Global N.V.
