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Sure, you can play with that sort of thing, but it's very much a last resort in this part of the world. Most people who have paid for their house don't seem to like the idea of not owning it again.
by Colman (colman at eurotrib.com) on Mon Mar 26th, 2007 at 06:58:06 AM EST
[ Parent ]
Where I come from (and this would be a country sharing many structural features with Ireland) there are lots of pensioners with paltry pensions and valuable houses, so that sort of thing is actually a great idea.

"It's the statue, man, The Statue."
by Migeru (migeru at eurotrib dot com) on Mon Mar 26th, 2007 at 07:01:21 AM EST
[ Parent ]
Absolutely, and there are probably lots of people here in that situation who will refuse to take advantage of it.
by Colman (colman at eurotrib.com) on Mon Mar 26th, 2007 at 07:04:26 AM EST
[ Parent ]
What they need is reassurances from their children that they have done enough and don't need to feel bad about not leaving them a house as inheritance when the childrem are ready to retire.

"It's the statue, man, The Statue."
by Migeru (migeru at eurotrib dot com) on Mon Mar 26th, 2007 at 07:13:24 AM EST
[ Parent ]
Ha. Insert cyncial remarks about adult children here.

I know older people - not related to me, I hasten to add - who rely on their estate as a form of power over their children. Assurances from their children that they don't care about the money would be precisely what they don't want.

by Colman (colman at eurotrib.com) on Mon Mar 26th, 2007 at 07:16:37 AM EST
[ Parent ]
In fact telling them that you won't need/want their money and they should enjoy life while they are alive is seen as an insult.  You may even be seen as 'jealous' and trying to hurt their feelings...

The more you have when you die the better you are...really...don't you believe me??

We are all in the gutter, but some of us are looking at the stars. Oscar Wilde

by Sam on Mon Mar 26th, 2007 at 07:32:02 AM EST
[ Parent ]
Now...where did I leave that note on how to bring your wealth with you to your afterlife...

We are all in the gutter, but some of us are looking at the stars. Oscar Wilde
by Sam on Mon Mar 26th, 2007 at 07:33:45 AM EST
[ Parent ]
If I tried to tell my grandmother (or my mother) that she could borrow against her home and arrange to have more income (we'll ignore the fact that she literally counts every cent) she'd have me locked up for insanity!  It's a matter of pride for a lot of people (old AND young)in this country to actually own their homes free of debt.

We are all in the gutter, but some of us are looking at the stars. Oscar Wilde
by Sam on Mon Mar 26th, 2007 at 07:28:20 AM EST
[ Parent ]
I'm assuming they can afford their heating bills?

"It's the statue, man, The Statue."
by Migeru (migeru at eurotrib dot com) on Mon Mar 26th, 2007 at 07:52:54 AM EST
[ Parent ]
In her relatives' cases, yes. Not in all cases - and they still wouldn't go for it.
by Colman (colman at eurotrib.com) on Mon Mar 26th, 2007 at 07:55:49 AM EST
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