Posted by MarkB_MI on December 05, 2022 at 05:02:24 from (174.211.41.92):
In Reply to: how about a Will posted by olgentdc on December 03, 2022 at 18:49:44:
When you're trying to negotiate a deal with somebody, it's a good idea to look at the situation from their perspective. What does your wife want? It sounds like she wants to go back to Sicily with enough money to live there comfortably. I'm guessing she is or soon will be collecting Social Security, which is something but might not go that far back in the old country depending on how she's accustomed to living. Clearly she expects a chunk of cash to fund her Mediterranean retirement. And what she DOES NOT want is your farm or equipment. So you will be expected to come up with a significant amount of cash if you divorce. Frankly, probably the only way you'll be able to come up with it is to sell part or all of your farmland.
Once you have a firm grasp on what SHE wants, figure out what it is YOU want. Do you really want to continue farming as long as you can, or is it maybe a good time to move on to something else? How important is it to you to pass the farm on to your kids? Have you made any plans for the possibility you might go into a nursing home for a very long time? If you keep the farm and go into a nursing home, the farm might very well have to be sold to pay for your long-term care. Selling it now might be the best thing to do, all things considered. You might want to speak to an attorney specializing in 'elder law'; it's a specialty with which many otherwise good attorneys are unfamiliar.
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