Long lease running out.

Packrat

A buddy has me pestered with different versions of this question which I don't know the answer to so I said I'd ask here for him:

He has a 10 year lease from his father which is out 2028. His father now has Alzeimers and if alive then, won't be corpus mensus to make another one. The place is willed to him.

Can he get Tams funding which wouldn't be available until late this or early next year under the 5 year rule?

What happens in general at the end of his lease if his father is alive but incapacitated?

Can he go into a 5 year scheme like Acres or Organic?

I assume someone has some experience of similar issues.

893bet

Has be been formally diagnosed such that a new lease could not be started now? Giving 10 years from today?

Has anyone power of attorney for him?

Packrat

https://www.boards.ie/discussion/comment/120458447#Comment_120458447

I asked about poa and no, apparently not. Don't know if they have a formal diagnosis or not.

wrangler

https://www.boards.ie/discussion/comment/120458810#Comment_120458810

You should try to get it transferred, If he needs a nursing home and has a farm he'll have to pay for the nursing home (1200 - 2000/week )where as if he has nothing he gets it free or for very little. nursing home will have a claim on it for five years after transfer but if it's early alzheimers he mightn't need the nursing home for five years.

Packrat

https://www.boards.ie/discussion/comment/120458866#Comment_120458866

Not mine. I think they have that covered by other family assets but I don't know the specifics.

I had similar with the oul lad myself but all sorted in my case.

It's the farming side of it he's most worried about.

roosterman71

https://www.boards.ie/discussion/comment/120458941#Comment_120458941

If he's worried about it then he's thinking about it. Best to discuss the transfer now instead of waiting for it to be willed

893bet

https://www.boards.ie/discussion/comment/120458810#Comment_120458810

A formal diagnosis with out POA is a disaster. I know someone who a family member rushed it and now they are in no man’s land now with no power to manage his affairs.

Is he still reasonable corpos mentus such that either a POA or a full transfer can take place? Preferably the latter to avoid losing 20 percent of fair to the fair deal scheme.

Is there more than 1 child due to an inheritance? Could he be seen to be taking advantage by siblings?

alps

I don't believe POA's are available anymore, or at keast have an April end date.

893bet

https://www.boards.ie/discussion/comment/120459523#Comment_120459523

What you mean? A change in the law meaning you can’t appoint a POA? I find that doubtful?

banie01

https://www.boards.ie/discussion/comment/120459555#Comment_120459555

I'd hazard that poster is mixing up the changes due to commence with the Ward of Court system on the 26th

POA and it's operation is AFAIK not affected by those changes.

alps

https://www.ifa.ie/farm-sectors/farmers-should-appoint-enduring-power-of-attorney-before-legislative-change/

Packrat

I get the impression from the way he's talking that there's enough cash and non farming assets to cover the nursing home etc.

He's more wondering what'll happen his farming operation when his lease runs out.

Siblings getting other businesses and assets I believe