# when would you consider



## coup (Feb 28, 2007)

an 80somethin gent up the road just got a lawyer and said he fixed his place so that his son would keep if he gets huge medical costs....
a 54 year old fellow uo the road died and his 200 acre farm was said to be in a trust and not in his will or listed stuff......when would you consider giving up true ownership or hiding it.......?

my wife is losing heer job and are insurance,rumore are i could lose mine also,,,while we are debt free,except utilites,,,without insurance one hospital stay could cause us to lose house and land......ideas-thoughts


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## Micheal (Jan 28, 2009)

Here in NY it use to be that estate transfers could be looked at going back 3 years, I think it is now 4 years? But they have to prove that the transaction was done to "defraud"......
The thing that most people don't consider though in this transfering of "stuff" (be it property, real estate, money, etc) - what happens to the "stuff" that is now owned by some-one-else if something tragic happens to some-one-else???? 
You could be left out in the cold due to conditions beyond your control.........


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## Waiting Falcon (Nov 25, 2010)

I do not know where too find a website for this but I have read that if you can pay even $15 a month on your hospital bill that shows intent to pay and they can not take your farm/property away from you. 
I do know they will take your place if you do not pay. It happened to friends of mine. He was rushed t the hospital in critical condition, they had insurance, the hospital would not take their insurance but they did take the farm.


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## Cyngbaeld (May 20, 2004)

Micheal said:


> Here in NY it use to be that estate transfers could be looked at going back 3 years, I think it is now 4 years? But they have to prove that the transaction was done to "defraud"......
> The thing that most people don't consider though in this transfering of "stuff" (be it property, real estate, money, etc) - what happens to the "stuff" that is now owned by some-one-else if something tragic happens to some-one-else????
> You could be left out in the cold due to conditions beyond your control.........


The sister of a friend deeded her home and business to her only son, thinking to avoid estate taxes and probate, etc. Then the only son was killed in an accident and his widow forced the sale of the home and business, even though it put the parents into bankruptcy.


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## Waiting Falcon (Nov 25, 2010)

It is certainly something to give deep thought too. 
Power of attorney should be carefully thought through likewise.

Parents, siblings have been forced into nursing homes why their homes and possessions have been sold by those they thought they could trust.

My late DH said his DD would not be that way. There were two terrible years of probate because she WAS that way.

Money/property does strange things to people


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## jwal10 (Jun 5, 2010)

Has to be done 3 years before, here. My M-I-L set it up 15 years ago. Her son took over the farm in January and she moved to the care facility after a bad spell in the hospital and she was not able to cook, clean or be alone. Has a small apartment there. My wife has power of attorney. Been alright so far. Medicade takes the SS check and covers everything. I think she has about $70.00 a month for incidentals, tithing, etc....James


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## newfieannie (Dec 24, 2006)

yes, that's what we always say. our children wouldn't do that. that's what one of my husband's said about his daughter. guess what! good thing everything was rock solid. i say the same thing about my son but i'm certain of it. i only have the one son and all he cares about is a little shack in the woods and his dogs. he's probably close to being a hermit. doesn't even want to talk on anything happening to me.

i have not turned anything over to him but i think about it. i wanted to turn the land in the country over to him but he didn't want the responsibility. (i did say he was a hermit) he is my sole beneficiary and since he has no dependents i am his. have been since he was in his 20's. so if i did do this and he died young(which i suspect is what's going to happen) it would come back to me .so it's a little different with us. i dont think they take the homes anymore up here. not sure about that though. ~Georgia.


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## Mutti (Sep 7, 2002)

Having worked in nursing home for years I've seen the things families do to their kin and it ain't pretty. One women opened the evening paper to see her house was being auctioned off by her son. Another lost his family's Centenial farm d/t the high cost of his cancer tx. and being too young for Medicare and too "rich" in land for Medicaid. Sat with him while he cried about it. Or the family that comes out of the woodwork when Pa or Mom dies that no one has ever seen before. They descend like vultures before the body is cold.

Think carefully about your assets. My MIL is in long term care but she has a trust and the 4 sons sought out the help of a senior care attorney when her health started to fail. So she still has assets that were protected for their blind sister's care even though she had to spent over $70,000 before Medicare was granted.

We are working on our situation currently. Land in trust for sons and posterity. Current wills. Living wills, Power of attorney, health directions are the least a person should have. No one knows the time of their death. A neighbor and his wife were killed in a traffic accident recently and their dairy farm had to be sold . No wills and no plans. The children didn't have anything left. Sad.


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## pancho (Oct 23, 2006)

Something to think about. This happened to my family last year.
My parents gave my younger sister power of attorney. All family members thought it would be alright. Younger sister sold parents paid for 3 bedroom brick home and bought them a mobile home. The rest of the family tried to warn them that it wasn't a good idea. Soon after buying the mobile home younger sister put both parents in a rest home. Mother died and younger sister moved father to another rest home with instructions he was not allowed any visitors. Before father died he found out younger sister had emptied his savings and checking account. Before father died he found younger sister had removed over $180,000 from his accounts and there wasn't anything he could do about it. He died shortly after that and younger sister kept all of the few belongings he had left.
Be very careful about giving other people power over your life and belongings.


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## newfieannie (Dec 24, 2006)

oh what a shame Pancho.! too bad somehow you and your brothers couldn't have stepped in before it was too late. we had no trouble in our family like that. there was 9 of us . we had all left home so our younger sister took care of mom and dad for the last couple years. dad had everything in place . the money was divided between all of us. my sis got the house with our blessing. after all she had stayed there with them and we all had our own homes. never fear. what goes around comes around she'll get hers tenfold in the end. ~Georgia.


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