Properties of Sentimental Value

By
Managing Real Estate Broker with Keller Williams Northland

Labor day week is when I finally closed on my deceased parents house. This property had been in the family since 1958.

My grandfather bought it as a retirement property at the Lake of the Ozarks. When my parents retired,they bought it from my grandfather because he could not own real estate when admitted to a retirement home (sound familiar to anyone).

They made modifications (small cabin) keeping the old house surrounded by a bigger new house. You wouldn't know it, if I hadn't told you. Twenty five years later it needed new owners, but my sibling and I agreed that it was not for us and we sold it. If you wanted a lake front house you should have called me.

The final outcome is that my parents wound up giving an inheritance and not very many can deliver one of much value to their heirs unless their social security and pension puts them in a much higher tax bracket.

My siblings and I are thankful. You most often hear today from parents - I'm spending it all. Why should I leave anything.

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Rainmaker
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John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
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David - Very nice blog. You had very good and thoughtful parents.

Sep 10, 2010 05:01 PM #4
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Rainmaker
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David Spencer

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