'Cowshed Cinderella' - wins £1.3million from her parents

[Spuddler]

I was disinherited. I'm very happy about it.

For the small price of £400k I have been freed from everything, including any requirement to associate with my hateful cow of a mother as she dissolves into senility. Fair trade I'd say.

I'm similar
But like you say you are freed from a lot of crap and it's a good feeling to say everything you own you payed for yourself!
Plenty around wouldn't look so big or lead the lifestyle they have if they had to start from scratch instead of hanging onto the apron strings.

 

[Henarar]

It is highly unlikely he would leave it to his sister's kids, just like it is highly unlikely it will be worth nothing tomorrow

You don't know Fred like I do he will see them right

 

[Henarar]

It is important what it’s worth. You might be glad of a few million if your forced to retire through ill health or need care in old age.

thats what I said its only important if its sold and fred is not selling

 

[Henarar]

It is highly unlikely he would leave it to his sister's kids, just like it is highly unlikely it will be worth nothing tomorrow

I asked before and will do it again who made it worth millions?
It Wasn't the worth of it for farming thats for sure
A few changes to the subsudy system and a few changes to the tax system then add a few imports from a few places and we will see what its worth, could easy happen it has before

 

[Highland Mule]

You have the wrong end of the stick
Farm children inherit debt all too often

You can't inherit debt. That's not possible. You may chose to keep an asset which has not be fully paid for, and hence voluntarily take on some debt in order to buy your ancestors' assets on favourable terms, but there always remains the option to let the deceased's estate liquidate the assets and instead inherit the cash.

 

[glasshouse]

You can't inherit debt. That's not possible. You may chose to keep an asset which has not be fully paid for, and hence voluntarily take on some debt in order to buy your ancestors' assets on favourable terms, but there always remains the option to let the deceased's estate liquidate the assets and instead inherit the cash.

 

[glasshouse]

You can't inherit debt. That's not possible. You may chose to keep an asset which has not be fully paid for, and hence voluntarily take on some debt in order to buy your ancestors' assets on favourable terms, but there always remains the option to let the deceased's estate liquidate the assets and instead inherit the cash.

When an ancestor dies and leaves a business with debt, you inherit that debt.
You cannot liquidate the asset when most of it is a bound stock on a tenanted farm , or you will lose the tenancy.

 

[Highland Mule]

When an ancestor dies and leaves a business with debt, you inherit that debt.
You cannot liquidate the asset when most of it is a bound stock on a tenanted farm , or you will lose the tenancy.

You can always walk away. To keep the tenancy is a choice, and one that plenty don't have. Many will inherit nothing, but others will inherit an asset and then complain it's not worth as much as they'd like.

 

[glasshouse]

You can always walk away. To keep the tenancy is a choice, and one that plenty don't have. Many will inherit nothing, but others will inherit an asset and then complain it's not worth as much as they'd like.

So you admit now that you can inherit debt.?

 

[Highland Mule]

So you admit now that you can inherit debt.?

Nope, but you can chose to take it on alongside inheriting something of value. You're not inheriting debt, just a leveraged asset. Do you want to inherit £100, or 2/3 of something worth £300, with the other 1/3 owned by the bank?

 

[glasshouse]

Nope, but you can chose to take it on alongside inheriting something of value. You're not inheriting debt, just a leveraged asset. Do you want to inherit £100, or 2/3 of something worth £300, with the other 1/3 owned by the bank?

Banks dont consider that livestock are an asset to be leveraged
And you cant just " walk away" when its your home and home to other family members.

 

[Highland Mule]

Banks dont consider that livestock are an asset to be leveraged
And you cant just " walk away" when its your home and home to other family members.

You can always walk away - you may have strong emotional ties to the place, but that's a choice, not a requirement.

And it's not your home, it's the former home of the deceased, and part of the estate to be liquidised as necessary, or else it's the property of the landlord, if the deceased was a tenant.

 

[glasshouse]

You can always walk away - you may have strong emotional ties to the place, but that's a choice, not a requirement.

And it's not your home, it's the former home of the deceased, and part of the estate to be liquidised as necessary, or else it's the property of the landlord, if the deceased was a tenant.

Your logic is in a class of its own

 

[Highland Mule]

Your logic is in a class of its own

It's stripping out the emotion that you struggle with, I can tell. I'm detached enough to see it in a way that you can't.

 

[glasshouse]

It's stripping out the emotion that you struggle with, I can tell. I'm detached enough to see it in a way that you can't.

So if you have lived in a farm all your life, its not your home?

 

[Highland Mule]

If you don't own it, you don't own it.

 

[kiwi pom]

thats what I said its only important if its sold and fred is not selling

Assuming its paid for, its a great safety net, Fred has security. He doesn't want to sell it, probably wont sell it but if life throws a curved ball he could sell some/all of it to get himself or his family out of a bad situation.
Its like someone winning the lottery, not spending a penny of it and continuing with their regular job, it looks the same but when they go to work on Monday morning its going to feel a lot different.

Fred may also continue to inherit off other family members, which helps fund his farming habit and pay the staff that do the work.
Fred has lived a very privileged life, he just doesn't admit it.




All Fred's are different and situations vary. The Fred above is an actual person though.

 

[kiwi pom]

So if you have lived in a farm all your life, its not your home?

Having a home and owning your own home are two different things.
I still slip up from time to time and call my parents house 'home' even though its on the other side of the world.
It was my home for years but I don't own a single brick of it.

 

[Henarar]

Assuming its paid for, its a great safety net, Fred has security. He doesn't want to sell it, probably wont sell it but if life throws a curved ball he could sell some/all of it to get himself or his family out of a bad situation.
Its like someone winning the lottery, not spending a penny of it and continuing with their regular job, it looks the same but when they go to work on Monday morning its going to feel a lot different.

Fred may also continue to inherit off other family members, which helps fund his farming habit and pay the staff that do the work.
Fred has lived a very privileged life, he just doesn't admit it.




All Fred's are different and situations vary. The Fred above is an actual person though.

I thought someone on here made him up can't remember who now
that is just the point I was trying to get across every situation is different and broad brush statements on TFF looking in from the outside are useless in fact worse than that

 

[Henarar]

Having a home and owning your own home are two different things.
I still slip up from time to time and call my parents house 'home' even though its on the other side of the world.
It was my home for years but I don't own a single brick of it.

you don't have to own it for it to be home and you don't have to own it to have invested in it