Question on Fair deal and Will

893bet

https://www.boards.ie/discussion/comment/122290357#Comment_122290357

in effect it would be treated same as a gift, plan ahead or get fucked, but to do that there needs to be trust between parent and child ( or what ever relationship between the parties).

148multi

https://www.boards.ie/discussion/comment/122290368#Comment_122290368

A gift will be safer, assets sold at a nominal price leave purchaser open to litigation by other family members years later.

wrangler

https://www.boards.ie/discussion/comment/122290716#Comment_122290716

Biggest problem now is the so called marriages and the childs partner, Your 'gift' could end up with someone you've nothing to do with.

You'd wonder do young people know anything about commitment.

older by the day

https://www.boards.ie/discussion/comment/122300540#Comment_122300540

You have to take a chance, no guarantee in relationships. Most young people say move on, if you are unhappy. But are they wrong?

I can't imagine why in 2024 this country doesn't recognise pre nups.

148multi

https://www.boards.ie/discussion/comment/122303503#Comment_122303503

Because It's easier for the state to deal with no fault divorces, and less court time wasted.

wrangler

https://www.boards.ie/discussion/comment/122304423#Comment_122304423

What I see happening in some of the break ups is that the land owner isn't entitled to free legal aid and the other partner is entitled to free legal aid. That on it's own is able to nearly break the landowner, 50 - 100000 is nothing in legal costs nowadays in defending the farm in a break up if the other partner is bad enough.

maidhc

https://www.boards.ie/discussion/comment/122304814#Comment_122304814

In fairness if there is a breakdown in a marriage the most important thing is the children are catered for, not that part of the land is not sold. I have never come across a situation where a working farm (or business) was badly damaged by a family law court order. Yes, 20/30 acres had to go at times where the spouse needed help to put a roof over her head, but equally she may have contributed 10+ years to raising children and lost out on earnings during that time.

too many young lads still stay living at home with mammy for fear of the land being taken, and it’s mostly sh1te from the older generation.

I say this as a managing partner of a law firm/farmer/married person.

Ps, legal fees aren’t a patch on what you say unless things go mental altogether.

wrangler

https://www.boards.ie/discussion/comment/122308787#Comment_122308787

i know one case where the man had to abandon the divorce when the legal fees hit 20000 and another where it's at 16000 and it hasn't even started, in both cases the woman is entitled to free legal aid and was/is going to keep fighting

The shite, as you call it, by the older generation is because the asset thats being thrown away was put together by the older generation with hard work

maidhc

https://www.boards.ie/discussion/comment/122308933#Comment_122308933

€20k buys you a tractor gearbox these days.

There is very much an endpoint in family law proceedings. You can’t really keep fighting, and the legal aid board don’t tend to go all in for incessant appeals.

Smee_Again

https://www.boards.ie/discussion/2058354723/question-on-fair-deal-and-will

if your sister is left the house in the will then she can either pay back the state the (up to) 22.5% owed and keep the house or sell the house and pay the 22.5% owed.

You and your other siblings won't have a claim on the proceeds of the house sale.

MPFGLB

https://www.boards.ie/discussion/comment/122287948#Comment_122287948

This is surely aginst the Fair Deal idea…Was it not a Fair Deal for everyone ?

The FD only protects a farm/house but not savings…

Really you save all your life and then the state takes your money

This farmer can survice 6 years on savings if he pays himself but my Grand mother spent 10 years in a nusing home and diesd at 101

MY mother has scrimped and saved her whole life and has money and will pay through the nose

My aunt on the other hand spent everything on drink, cigarettes and going places and hasnt a bob …she is getting everything for free

Seems very unfair to me though my aunt does need the care as she has lots of health conditions

Anyway thanks everyone for all the answers …much appreciated

Problem is my mother wont 'give away' her money to family and thus financial planning is not an option

One last question …is ther any insurance one can take out to pay for nursing care if needed or to pay for extra care in the home ????

893bet

1. the money is been taken from savings as that’s the most convienece way to pay the 7.5 percent of total assets.
2. After 3 years the farmer will pay nothing and rest if all assets will remain his

@MPFGLB

148multi

https://www.boards.ie/discussion/comment/122447782#Comment_122447782

Being the devil's advocate,

Your aunt has paid significant tax and excise duties on her drink and cigs.

The problem was people were put in care homes years ago after giving significant wealth to younger generations or neighbours, these care homes were put in place for people with no means originally.

Then some twit sued because monies were taken from pensions without proper paper work being done.

So the pendulum has swung more in the other direction and in fairness why should society pay for looking after a person with significant wealth. If I had an aunt with autism, I wouldn't begrudge her care, some people with drink problems can't shake the disease and it's hard fault them for it.