Well, in the second worst way possible, I just got a new (to me) house

[OriginalGeek]

My Grandpa, whom I've written about many times here, fell and broke his ankle. He's 95 and this is hitting him pretty hard. He has said for years now that he's leaving me everything he has minus a few dollars to my younger brothers from various insurance policies and I always tell him thanks but I'm in no hurry to get any of it. (Him dying would be the number 1 worst way to get a house)

Well this ankle thing got him really bummed out because he was active enough to live on his own before that. He fell coming up the driveway after taking his chihuahua for her nightly constitutional. (I suspect she ran under him and tripped him up but he would never say that out loud to anyone because he loves that dog too much to blame her for anything but it doesn't really matter either way. She's been with him since a year before Grandma died and she's family).

He was in the hospital for a week and they did surgery to fix the bones but it left him much weaker than he expected to be and now he's in a rehab facility and he probably can't come home until he can support his weight on the ankle and that will be awhile.

But he called me the other night and said he didn't think he was going to be coming home because even after he gets out of rehab he will still be a lot more limited than he used to be and my Aunt (another one of my personal heroes for reasons unrelated to this but this doesn't hurt lol) offered to let him come live at her house. Since my uncle died a few years ago she's been in that big house by herself - she's retired but works from home occasionally and can afford to have him over and rearrange stuff for his therapy and living quarters.

So he said he's gonna go live with her and he wanted me and my wife and daughter to move into his house now so he could see us enjoying it (if you only knew what an upgrade this house is over our current one lol) before he's done with this life. We're over here all the time anyway as I often come by to change light bulbs and other little things for him. I keep my grill here because he has a much nicer patio to do grilling on and he loves when I cook out.

I hate that he's losing a lot of his freedom but man, I sure love this house. I lived here in the mid 80s when I was going to school until I got married. He said not to worry about taxes and HOA fees and whatnot (it's long since been paid off) but that's not even on my radar. He said change it up any way we want to make it our home and I plan to do just that. This is a totally 70s house and it's been well-kept but it's got some real design issues including, but not limited to, no cable anywhere. I had our service transferred over last night so now we at least have TV and internet.

My aunt lives just 2 miles away so we'll be bringing him over for cook outs a plenty and let his dog visit her favorite poop spots and basically just make him as comfortable as he can be for the rest of his life.

So thanks if you read this far. I'm up for advice on redecorating and tax burdens or just general questions about my awesome grandpa - Retired CWO from the United States Air Force and retired after that from the state educational department. He and grandma are the 2 main reasons I am a liberal Democrat. Their love and support overcame years of far right wing religious indoctrination from a hypocritical stepfather and my mom who I think just got caught up in step-asshole's bullshit.

[lapucelle]

1. It's a gift of love.

Imagine how it makes him feel to know that he made your life better. You got the house in the BEST possible way...a cherished possession was passed down to a beloved grandchild while the donor was still there to relish the wonderful emotions and appreciate your gratitude.

Best of luck to you, your family, and your grandpa. May he be your honored guest at many future holiday gatherings.

[OriginalGeek]

3. Hot dang you are right!

thank you very much!

[greymattermom]

2. Don't change things just because they're "dated"

Keep everything that works for you and just change things that are a nuisance. Don't watch too much HGTV. Today's style is tomorrow's "dated." If it has wood and brass, learn to love them.

[OriginalGeek]

5. lol that's one of my biggest problems!

I already watch a ton of HGTV and all those renovation shows - There is a lot of stuff I love about the house and mostly his furniture is all spectacularly well kept and lots of things from his time in Okinawa and their travels elsewhere (He was in WWII and the Korean war so got to see quite a bit of the world lol. Maybe not under the best conditions but some of it was pretty nice - When he was stationed in Okinawa they let him bring Grandma and my dad and uncle so they got to live there for a couple years.)


I may not make a ton of changes (certainly not the wild and radical changes they do on HGTV ) but there's some popcorn ceiling and wallpaper that's on my list...

And the carpet has to go. I'll probably put in wood floors and do a lot of throw rugs.

[spooky3]

9. Careful with the throw rugs when Grandpa visits. They

Are the cause of many falls according to an article I read.

Good on ya for helping your Grandpa all these years, and I'm glad this is happening for you.

[dixiegrrrrl]

15. I personally would not change a thing while he is still with you.

Every single thing in that house is a memory to him, and even if he says it is ok, the house is still his home, in his heart.
I would give it some time before doing anything big.
Needed repairs, that is different.
The rest,, maybe wait till it is your house completely (trying to be delicate, here)

Just saying what I would feel if I were in the same situation and my kids were in your shoes.

[OriginalGeek]

16. Yes you are absolutely right

My wife and I are looking around not even wanting to take pictures off the wall so they'll be there when he comes over for BBQ or other visits.

But he knew I was gonna get cable - lol - he does actually have a very small cable service from a company I don't care for with speeds way too slow for me and he plans to transfer that service to my aunt's house (she just has antenna and a tiny little TV with no other service) because he loves his ESPN and FSU football in particular. (He got his masters at FSU while my mom and dad were meeting and having me at FSU - so we are pretty big FSU fans around these parts.)


I think i will need an electrician to come in and survey though - I mentioned I change bulbs for him often but I think it's too often because some of these things blow out like every other week. I have very little residential electrical knowledge so I don't know why he has so many bulbs burning out all the time.

but yeah, knocking down walls and tearing up floors can wait.

[Delmette2.0]

22. I have a 1952 house.

And I had a talented electrician install LED fixtures where ever he could. He even used the established ceiling boxes. The light is brighter and makes the ceilings feel higher.

[OriginalGeek]

29. Wow, I almost forgot

we put one of those LED bulbs in our kitchen at the old house - I LOVE the light from it - much brighter and we expect it will last longer too. I need to go snatch that bulb - ain't doing anybody any good over there.

I expect to convert everything I can at grandpa's house to LED. The light is much nicer to me.

The kitchen and the bathrooms all have fluorescent tubes. Not a big fan of those but I guess it was popular in the 70s?

[Yonnie3]

28. Yes, you should get an electrician.

Frequent blown bulbs may be an indication of a poor neutral connection. This could cause spikes of higher voltage when a large load comes on, which is bad for bulbs. It can also cause low voltages on the other leg which is bad for electronic devices.

I had this happen in my "new" house.

[OriginalGeek]

30. My wife just told me she thinks the power company will come out and inspect all that

for free! My favorite price. If they won't do it or they won't do as thorough a job as a paid electrician we will get an electrician.

[Yonnie3]

32. She's right - It's the correct way to start.

They typically will inspect/test their part of the wiring and the transformer. Their part likely ends at the meter, but if they are nice they might check at the breaker (or fuse) panel. My problem was the attachment of the neutral to the breaker panel had corroded. It legally required a licensed electrician to fix, but hopefully no one will tell on me.

[OriginalGeek]

34. I didn't see a thing

[MiniMe]

4. Make sure you inherit the house, don't let him give it to you now.

There are tax consequences to him signing the house over to you now. Hopefully, that won't be for a long time, just want to make sure you check into what it could be. If you wait until you inherit, you take over at the value of the house on the day you inherit. If he "gives you the house now, I think you start with the price he paid for the house and if/when you sell it, it could be a capital gains burden. Not sure if the laws/rules have changed, so check with your tax person.

[OriginalGeek]

8. Yes that is one thing he specifically said

He has to and will retain ownership until he passes and it's for tax reasons. I freely admit I don't know jack squat about that stuff but I think we have time to learn it. He also named me the executor of his will and I'll probably need to talk to his lawyer to find out what that really entails. I mean, we aren't talking about millions and a mansion here but it's a nice house in a nice neighborhood and he's been paying into life insurance policies for almost 80 years.

He said "Do whatever makes you guys happy with it but I own it until I die".

I still feel weird going through the house thinking about changes though.

[lunatica]

10. Maybe you could consult with him about any changes to the house

He might have some ideas he's been wanting to see happen. You never know.

[OriginalGeek]

12. yeah he's not afraid of giving his opinion

or asking ours - he bought all new patio furniture couple years ago and had us go pick it out "Since y'all are the ones gonna be sitting on it!" and recently got a brand new A/C unit and had the back fence replaced (I wrote about that last year here) and most all of these things he is doing because it's for us.

[Hamlette]

25. You might consider him putting his assets in trust with you as trustee, avoids probate.

You should talk to a lawyer, but I did probate with my mom and it wasn't awful but I did have to pay a lawyer to do it for me. A trust just does what a will does but doesn't go through probate. Same tax advantages when he dies.

As for remodeling, I agree with the advice that you shouldn't do it what he's still around. I would also advise you live there for a year before you change anything. I sold my son my mom's house and his wife wanted to change all sorts of things. I made them agree, in writing, not to do any remodeling for one year. They have changed their minds now and love the kitchen, storage room etc. and are not going to change them. I thought that might happen and I'm not as attached to it as I was when mom first died. I grew up in the house and I missed her so much that I wanted to keep some of her around.

[OriginalGeek]

31. he does have a good lawyer

so I'll talk to him about it. thank you!

My wife sold her mom's house to our oldest son and they've put a lot of work into it but it had sat empty for a long time and needed all new everything so there was no getting around a lot of the remodeling they did. Lol, my wife was just so happy to not have the taxes and property insurance to worry about she didn't care - she also grew up there but I kinda get the impression she was happy to get away from there. The only thing she ever worries about now is if the avocado tree is bearing fruit.

[Hamlette]

38. lol, I picture my mom watching down to make sure the red bud tree is still there :)

and I don't even believe in god.

My problem was my son has 2 kids and my daughter in law couldn't stand the thought the 2 kids' bedrooms were not the same size. She said she and her brother would measure their bedrooms to make sure they were the same size. It would not have dawned on my sister or I to be so . . . small and if we had complained, mom would have never spoken to us again. The four of us went to dinner and it go so ugly my husband, who is steady and rational, told them we were done and would not come to their then scheduled wedding. My son finally woke up and told her to drop her shit or he was cancelling the wedding too.

It all worked out. Anyway, I was still pissed at her shit and didn't want her tearing my mom's house apart. My mom had great taste and it is a beautiful mid-century modern house than she designed and my dad built. I didn't want it torn up.

Yes, she and I get along now. She lost and doesn't pull that shit with me anymore.

[lastlib]

42. And make sure you know where any of his records are.....

...that pertain to his purchase of the house, along with any significant improvements he's made to it. Those will affect the "tax basis" of what you would inherit. It'll save you a lot of headaches.

[MiniMe]

43. Actually, it doesn't affect that at all

You inherit at the cost basis on the day he dies. I just went through all of this with my Mom's estate, so I am speaking from experience here. I had to get an appraisal done shortly after her death, they also had to do an appraisal of the belongings of the inside of the house. I didn't have to pay federal estate tax, but I did have to pay state estate tax. Of course, that all depends on what state the house is in. I had moved in with my Mom before she died, so when they did the contents appraisal, I went with them and pointed out what was mine that I brought to the house.

My parents took care of estate planning, and had everything in a revokable trust. It made everything easier at the end as nothing had to go through probate other than her 5 year old car. The lawyer had told us to put my name on the title of that, but we never got around to it. I am also an only child, but the living revokable trust can be used to designate specific items to go the way you want it to go. I have all of my stuff in a revokable trust now, something I never had to worry about before my mom passed.

[lastlib]

44. The determinant of the cost basis when he dies....

...is what the decedent paid for the house, plus the cost of any improvements he made. If the heir cannot prove the cost basis at the time of the inheritance, then at the time of a sale, he'll be paying tax based on a cost basis of zero, ie, the full amount of the sale, not minus the cost. The heir will need some record or proof of what the original owner paid to purchase and then improve the home in order to establish what the cost basis was at the time he inherited it.

[MiniMe]

45. Like I said, that wasn't how it was for my Mom's estate

It was basically market value of the house, which was how much you could get for it on the market. I sold my mom's house, and the cost basis was the inherited value for me, it had nothing at all to do with how much they paid for it.

Are you a lawyer or accountant?

[SoCalDem]

46. Or have him put it in a trust, with you on the trust too..

Check with a real estate/tax-lawyer, since state laws vary..

Sounds like a blessing..I know how nice it is to have space, after being cooped up in a small place..

[MiniMe]

47. Agree, a trust avoids probate

And I think avoids some of the arguing that goes on sometimes after a person has passed. My parents went through the tax planning process, and set everything up in trusts. It made it much easier in the end. I have my estate set up in trusts now so I know that things will go where I want it to go. And since it is a revocable trust, I can change it at any time. I don't change it much as I don't want to make myself poor and the lawyer rich.

[Tess49]

6. You should get a property tax bill every year from your county tax office. It will come in

his name until the house changes ownership. Enjoy your new home.

[Stonepounder]

21. Check with your state about a 'homestead exemption' or the like.

Here in KY once you hit 65 you can get what they call a 'homestead exemption' instead a 'break for the old farts'. They take the assessed valuation of the home and knock of $20K when the figure your property tax. So, there is an advantage to keeping the house in his name. YMMV and I don't know if all states have this, but it is worth looking into.

[Tess49]

26. I'm in Oklahoma. Here, once you reach 65, if your income is below $60,000/year, they will

freeze assessments on your property. The amount of your property tax is based on the "frozen" assessment for the duration of your ownership. When the property is sold, it is reassessed and the new owner begins paying the taxes on the new assessment which is usually much higher.

[OriginalGeek]

33. I will check into it

here in Florida I think we've been getting homestead exemption forever - When I married my wife almost 31 years ago she already owned this house and we always got the Homestead exemption but I haven't thought about it in a while so I don't know if the idiot in Tallahassee has screwed that up.


I lived in Florence, KY when I was in first grade! I remember going to a Cincinnati Reds game and getting a Bobby Tolan bat. Which I used to hit rocks with until my dad got tired of me tearing up good stuff lol. I'm told Pete Rose and Johnny Bench lived in our apartment complex but I was 5~6 years old so it wasn't very important to me. This would have been late 60s so they probably weren't yet really famous either.

[ghostsinthemachine]

7. Sounds awesome to me

Things happen and this is a gift of love. That he will see you, and your family, enjoying it, will bring added joy for you both.

[hibbing]

11. I inherited a house

I did a kitchen remodel and had a few walls torn down, and got hardwood flooring put in. The person I inherited it from had wanted me to have it and is happy it has stayed in the family. I don't watch any of the remodel shows, but the designer came in and the first thing she said was to get rid of these two walls. It opened up the whole kitchen/living room area and I'm so glad I took her advice.

I'm sorry to hear about your grandfather, what a long time to still be living independently. It sounds like he too has wanted you to have the house and is happy at least about that. I wish you the best of luck.


Peace

[OriginalGeek]

14. thank you and yes

kitchen is at or near the top of the list for me. But we'll probably wait a while before starting that.

The appliances have been replaced maybe once and they all work but I think we can get some updated stuff in there - for one thing I would love to have a gas range instead of the electric. and I wouldn't mind losing a wall too - or replacing it with a bar...

but we have the rest of our lives to figure stuff out. First i need to figure out how to pick a designer/contractor. We had our kitchen and some other remodeling done at our house about 8 years ago and it was a nightmare. I do know one contractor not on the list so that narrows it down to everyone else.

[OriginalGeek]

13. One of the many reasons I love DU

is you folks can always give me a new perspective. I was feeling weird and a little guilty about feeling happy to move into his house and feeling bad at the same time about his injury and how much it reduces his mobility and you all just always come through.


I will definitely watch out for throw rugs! thanks for that and all the other well wishes y'all.

lol I was just thinking how every time I visit him in the hospital (or now the rehab place) and I meet a new nurse all they can do is gush about how sweet and kind he is and I'm thinking "Yep, I knew that."

[magicarpet]

17. Enjoy your new home....

Change/upgrade only what is needed - especially at first.
Invite him back often - especially for patio BBQs.
As stated - let him see you and your family​ really enjoying the place.
Have fun.

[niyad]

18. thank you for sharing a bit of your family story with us. your grandfather clearly loves you

very much. as another poster said, this is a gift of love. I am so happy that you all can still share so much together.

be happy, all of you.

and thanks for giving us all a lift this day. another blessing from your grandpa to people he does not even know!!

[OriginalGeek]

35. Truly and sincerely thank you and everyone

for allowing me this indulgence. It would definitely warm his heart to know he's made people happy.

[notdarkyet]

19. Sounds like a good thing for you all.

[luvMIdog]

20. He loves you and helping you I'm sure has made him very happy

besides that the place that holds his memories is not going to a stranger.

[panader0]

23. Cool that your Grandpa made it to 95.

And he seems so cogent and aware.
I built my house, a two story, four bedroom, two bath home.
I raised four kids here. I'm sure that none of them would want to inherit
this place. Not because of the house, but because of where I live--in the
boonies. Be happy-- you have a great Grandpa.

[OriginalGeek]

36. Oh yeah he's totally with it

which is what frustrates him because, even though he has slowed down the last few years, he was still able to live on his own and take his dog for 2 walks a day around a pretty large block.

The other day I went into his bank to handle some business of my own and the teller saw my ID and name (He's Sr and I'm III) and she figured out pretty quickly we are related and said she missed having him come in but she loved seeing him walking the dog every night. Apparently she lives in the neighborhood lol.

What REALLY hurts him the most though is that we just got accepted for Honor Flight next month - would have been 2 days before his 96th birthday and something he has been looking forward to ever since he heard about them. He's worried the doctors won't clear him to go. But we talked to the Honor Flight people and they said if he can't make this one he will be first signed up for the next one (which I think they do once a quarter). https://www.honorflight.org/

I think if he can get in a wheelchair we should be good but I'll let the doctors confirm that. Honor flight requires them regardless. I'd be going as his guardian.

[DownriverDem]

24. Quit Claim Deed

Have him do a quit claim deed changing ownership to you. Then it will be yours free and clear when he dies.

[elleng]

27. GOOD family, GOOD house, GOOD times.

to you ALL!

[JudyM]

37. My sentiments, exactly. Lots to still be grateful about.

[furtheradu]

39. You touched my Heart!

What a GIFT! from & to Your Grandpa! & to the World.
You enJOY every moment, in that Home, & with Your dear Grandpa. 💖
Thanks for sharing this!

[Rhiannon12866]

40. What wonderful news and this sounds like a win-win-win situation for all of you!

Wishing your Grandpa a successful rehab and that you all have a great summer with many family cookouts in your new home!

[voteearlyvoteoften]

41. Re homestead exemption

Make sure house is still his legal residence. If mail is forwarded tax appraiser will question. Not so much the savings annually, it is the cap on increasing value that you lose when not homestead.
Property values booming here in FL. So without homestead the valuation can jump way up. Now capped at 3% I think.