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Central Indiana | Sad deal. But a life time farmer here wrapped up every bit of land in a lifetime estate for his kids. This had been several years ago. But his son who was a pos. Never paid child support on his 5 kids. Well the state came in and took almost 300 ac and sold it to pay his ex-wife. When a lifetime estate is made, both the father and children that are liable for debts can have it taken away. So my understanding is if the father needed to be in a nursing home and ran out of money. They could get the farmland and sell it to cover the costs. Here the only way to get Medicare to cover nursing homes is for the person to have less than 1k in assets. Going through this with a life time hired hand now. They are making him use his investment money that my grandfather set up for him throughout his career. | |
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Land trust
