Help, Friend in need

[milanbenes]

eh ?

can you say that in English pls.

my point is, Tim's not exactly on the bread line is he, your introduction is like somebody is on the breadline.

Tim should sell up and try something else.

Simples.

Not everyone can be a business man, some people could do with understanding that.

Milan.

[MaryPoppins]

eh ?

can you say that in English pls.

[Mich the Tester]

Tim Double-Barrelled,

with a house like that he's hardly on the breadline

some people need to understand when to say, the business plan
didn't work, try something else

that house is better than my house and majority of people's houses and
it's hard to have sympathy for Tim

sell up and try something else

that business is not for you

Milan.

Erm, quite a lot of people who´ve inherited large pads that have been in the family are actually rather poor in cash terms. believe me, I know a few of these characters and some of them are living in great big country houses with leaky rooves, rising damp, old lead pipes and are struggling with a farm that loses money, etc etc. Logically you might say sell the house and do something else, and some do. Trouble is that you can only sell the family silver once, and then it´s gone. Secondly, there´s pride at stake. If a house and estate has been in the family for umpteen generations, would you want to be the one that loses it for the family?

Now I'm not saying we should all feel sorry for the upper classes (if Tim is indeed an upper class person who inherited the house; a double barreled name doesn't say much these days), but I think some people have a view of them that's a little bit skewed. It isn't all that simple.

Personally I stand to inherit a house and land that's not dissimilar in proportions and setting to the one SY01 has shown, and a company that does something I understand very little about, and I find the prospect bloody terrifying seeing as my DIY skills are, to say the least, limited. Inheriting a business brings a lot of responsibility toward employees and other stakeholders, and a huge tax bill (against which I can insure myself to some extent). I don't want sympathy, but I think you should stop and ask yourself whether the situation of 'Tim Double-Barrelled' really is all that enviable.

As I understand it, Tim hasn't asked for financial help, but practical assistance from a friend.

Before judging someone, walk a mile in his shoes.

[suityou01]

Come midday the gloves come off again.

[milanbenes]

Mich,

thank you.

I have no envy over Tim.

All I am saying is, he's not on the bread line, this is life deal with it.

I too know the people you are talking about, once the farm is sold the following generations will have nothing, the money will get spent.

The most successful are the ones who find a way to hold on to the farm through the generations.

Like I said, it's not the sob story breadline story as it originally reads in the first post.

Sympathise with Tim's situation and yes it's nice to a family seat, but if you do not have capacity to sustainably maintain it then you have to think to downsize.

Personally, I would rather lose the house and keep the land. The land will retain the family wealth for the future, the house will burn it, unless the family is in a position to service the house.

The most successful families are those who successfully pass the land down through the generations while maintaining its size. The house is simply a trophy of the successes of former generations and not necessary for the goal of inter generational wealth preservation.

Milan.

[suityou01]

Mich,

thank you.

I have no envy over Tim.

All I am saying is, he's not on the bread line, this is life deal with it.

I too know the people you are talking about, once the farm is sold the following generations will have nothing, the money will get spent.

The most successful are the ones who find a way to hold on to the farm through the generations.

Like I said, it's not the sob story breadline story as it originally reads in the first post.

Sympathise with Tim's situation and yes it's nice to a family seat, but if you do not have capacity to sustainably maintain it then you have to think to downsize.

Personally, I would rather lose the house and keep the land. The land will retain the family wealth for the future, the house will burn it, unless the family is in a position to service the house.

The most successful families are those who successfully pass the land down through the generations while maintaining its size. The house is simply a trophy of the successes of former generations and not necessary for the goal of inter generational wealth preservation.

Milan.

You are an idiot.

HTH

[DimPrawn]

Hasn't this thread dragged on long enough?

[milanbenes]

yes SY01,

I may indeed be in your eyes,

but on this subject, rest assured, I knows my onions

Milan.

[Mich the Tester]

Personally, I would rather lose the house and keep the land. The land will retain the family wealth for the future, the house will burn it, unless the family is in a position to service the house.



Milan.

I'd love to do that too, but somehow I can't imagine English Heritage and the local council approving of me building a Bauhaus or De Stijl type villa on the site of a listed building. I don't like old houses; I grew up in the bloody things. Most of them are just stately slums to be honest.

OK, some old houses look charming, but think about it; do you drive a model T Ford to work and back? No; because even if they were brilliant in their day, by our standards they're tulip. Do you wear woollen shirts and hessian trousers? No; because they're uncomfortable and we have something better. So why would anyone want to live in a house that's drafty, damp, impossible to heat and requires constant expensive maintenance just to stop it collapsing in a heap?

[milanbenes]

Hi Mich,

I mean, sell the 'big' house and perhaps 5 acres around it and the access road.

Alternatively rent the 'big' house.

But keep the estate - farm land - rent that out or farm it depending on the situation.

If there are tied houses which do not have historical tenants rent those or let them go.

Use the money from the sales of the houses to buy more farmland.

Therefore, turning the houses from cash burners into revenue generating assets which maintain value with inflation and can be transferred through the generations.

Milan.