To Move or Not to Move.....that is the question

Discussion in 'Homesteading Questions' started by Lady TS, Jul 15, 2004.

  1. Lady TS

    Lady TS Well-Known Member

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    First off, this is TS.

    Without going into huge detail, we are facing a major decision.

    We are living on my grandparents farm (OH)that has been in the family since 1866. All or part of it will have to be sold soon to pay for their care.
    My family lives here, my wife's lives in Colorado.
    I lived in Colorado for 25 years and came back to live on the farm when the
    gparents went in the home.
    We both miss Colorado very much. But feel we have a duty to try to get part of the farm so it stays in the family. We don't feel as healthy here with all the industry and can't even eat any fish we catch locally. Job here is great but I drive 25 miles one way and it doesn't pay real well. I took a $3.50 an hour pay cut to move back here.
    Job out west sux pays better but High stress.

    We still own a mobile home in a park out there(CO) that hasn't sold in almost 2 years. We also have 40 acres vacant land paid for out there(no electric/phone).
    The house here is in need of repair and the out buildings are almost falling down. On the plus side it is very private 1/4 mi. lane and most people don't even know there is a house back here. Great survival potential here. Things grow well here whereas Colorado(the part we are from) has almost no growing season.

    Reading back thru this I would tell me to move. But I think-- what if we made something of this place we could be proud of?

    We are greatly confused LOL
    what is your opinion?
    TS
     
  2. CJ

    CJ Well-Known Member Supporter

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    Well what exactly is your option? To buy part of the farm, and that money goes to care for your grandparents?
     

  3. AngieM2

    AngieM2 Big Front Porch advocate Supporter

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    What family would you be saving part of the 'ol' homestead" for? Your children, nieces, nephews - what? If any of them, do they even appreciate the farm, or when it gets to them will they sell it for the fast buck?

    Also, where are you happiest? You are as important, if not more so, than keeping the property.

    Good luck on your decision. (I know how the Rockies can get into your blood. LIved in Denver area 1977 thru 1984).

    AngieM2
     
  4. SteveD(TX)

    SteveD(TX) Well-Known Member

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    Land without electricity available is tough to sell. But....it WILL sell to someone, at the right price. Listed for 2 years tells me you should lower the price or find a new realtor; probably both.

    As for the rest of your dilemna, all we can do here is tell you what the practical thing to do is. You probably already know that. What your heart tells you to do may be something else. You won't be happy unless you follow your heart.
     
  5. We live near a piece of land with a house on it that had a little old lady living there when we bought our place. It was also their old home place. She decided to move closer to relatives and when asked about selling the place she didn't want to because of taxes and would just leave it to her nieces and nephews when she died. She very recently did die and hadn't been gone 2 weeks when the house was put up for sale. Her neices and nephews didn't have any ties to the land, therefore it meant nothing to them. I would say to go ahead and sell the old home place now rather than letting it sit and fall down even more.
     
  6. GRHE

    GRHE Mountain Ogre

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    My first thoughts are along the lines that I think Angie is making, if you are the only one able or willing to do something for saving the farm, are you really saving it for the family? And in no way do I intend that in a crass manner, just reading what I heard in you question.

    My second thought is that if you are interested in saving the farm; contact a lawyer (yes the vermin are of use at times ;)). I am no expert at all, but there may be ways of saving the property, at least for a time. Laws vary by state, but there are often provisions that a persons home can not be forced to be sold for their health care. All other assets are another matter, but often special protection is given to the home. You may even be able to put a living trust in place that would grant you living rights to the land even after sale. If you want to protect the property for family heritage and memories please try to pursue it, otherwise head west were it sounds like your heart wants to be.

    For me, saving a part of the farm would not be an option. If I have sentimental ties to the land I would want all of nothing, but that is just me. Good luck in a difficult dilemma.
     
  7. Lady TS

    Lady TS Well-Known Member

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    CJ- our options are to try to buy 30 or so acres but our CO property would have to sell first. or we can psck up and leave and my parents will sell everything even tho my grandmother would have a fit because she doesn't want the farm sold if at all possible.(she isn't trying to manipulate we just found out her opinion last night and we have been working on this for two years) medicade won't pay for their care until they have less than $1500 in assets. So basicaly medicade is going to make us sell it when they run out of cash. (less than a year) and they cant sell it to us cheap because Ohio has a recovery law that alows medicade to come back and get market value difference to whoever they sell it to.
    Angie- the only people we would be saving it for are our 2 sons 1 and 3 . We want them raised on a farm if possible but have no idea if they will want it 20 years from now.

    We are really more happy in Colorado if we aren't living paycheck to paycheck but my old job will kill me so I must find a different one if we go back.
    TS
     
  8. CJ

    CJ Well-Known Member Supporter

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    Well then... where would you rather be, in CO or on the family farm? Trust your instinct, and do what's right for your family (you, your wife and your kids). If your gut says stick with the family farm, all the better, but make sure it's your gut and not guilt.

    Personally, I'd think while CO is gorgeous, OH probably makes for a better homestead life, if that's your preference.

    If your grandparents put the farm in a trust, can medicaid still force a sale?
     
  9. fordy

    fordy Well-Known Member

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    ..................Most states , will retroactively look back 3 to 5 years at ALL asset transfers and will evalute them before admitting "Granny" into medicaid nursing home status . If Granny had transferred title to her land into a special trust , that met the look back time period stated in the law , legally she could have met the Asset test and would have qualified for "medicaid nursing home" payments from SSA....Texas was one of 2 states that would allow Granny to be accepted into Medicaid and allow the family to still keep the house for future generation(s) . I'm not sure if this is still the case though, but it was for my uncle who died about 3 years back....It may have changed its mind by now. ....fordy.... :eek: :)
     
  10. agmantoo

    agmantoo agmantoo Supporter

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    Here in NC, the home can be rented out and the income turned in for maintenance to the person receiving care. Eventually the home will have to be sold and medicaid paid. I would reserve the house in that manner as the amount to be paid to medicaid remains a variable at this juncture.
     
  11. boxwoods

    boxwoods Well-Known Member

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    Is it possible for you to take care of them at home and get them out of nursing home at $5500 a month. In the old days, kids took care of parents and grandparents. Some medical problems, it would be impossible to care for, but your situation? Just asking if it's possible.
     
  12. Lady TS

    Lady TS Well-Known Member

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    Well, it would be possible I suppose, but I don't see it happening....Gpa thinks Gma divorced him(she didn't!) and refuses to believe otherwise and refuses to go back to live with her. He's really not well enough to go back anyway, and Gma isn't strong enough to help him up should he fall.... Dw has the boys (ages 1 and 3) to care for.....don't know that she would want to care for all four of them every day while I'm at work. :eek:
     
  13. Jena

    Jena Well-Known Member

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    It sounds like it's too late for your grandparents, but these types of things can be avoided. Everyone should talk to a lawyer well before the time comes when one might need long-term care or medicaid!

    Estate planning is a must if you have assets you wish to hand down to the next generation!

    Jena
     
  14. Blu3duk

    Blu3duk Well-Known Member

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    It is never to late to try anything when it comes to the family farm, including looking into buying it thru FSA which used to be the ASCS http://www.fsa.usda.gov/pas/default.asp It isnt for everyone, and the program only has so many dollars for each state, but it is coming towards the end of a fiscal year and funds get passed to where they can be used..... So what i am saying if you can qualify for first time farmer, minority farmer [women are minority too] you could purchase this farm with funding being backed the government, or directly loaned to you if under $200,000.00 purchase price...... plus your grandparents could carry a contract, which could revert to their heirs in the event they pass away before the end of the contract..... in other words here it would be a living trust purchased fair and square, dollars being given to current owner for medical expenses, land is transfered, dollars placed in trust fund to go to whoever grandparents want it to...... worth a try in my book..... and if they last 20 years, or more, they might see the land passed to your kids, and the next generation of farmers to work the land.

    I guess my vote would be to stick to the family farm if possible, my regret is not knowing more of how to save a family farm 20 years ago when my folks farm was swallowed up by the mortgage broker land grab of the 80's........ for less than $50K.

    William
     
  15. Jena

    Jena Well-Known Member

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    Unless Granny gets full market value of the farm (so she can hand it over to medicaid), this won't work. If she carries a contract, once she passes away, medicaid will be holding that contract! Money can't go in a trust, it will go to medicaid. Apparently she has already applied, so any transfers are subject to medicaid recovery (unless she gets full market value, so she can hand it over to them).

    She can sell the farm outright...at full market value...to anyone, including family members, but the money she gets will have to be spent down to get the medicaid.

    Trust me...I know this one. My MIL had alzheimer's. My husband and brothers got the land transferred, then had to pay out of pocket for 3 years for her care. She died about 2 1/2 years into the deal, without ever getting any medicaid assistance. It's not legal to transfer property simply to avoid medicaid recovery, but they don't look past 3 years from the date of APPLICATION!

    Jena