Friday 15 December 2017

Farmers' assets on paper not accurate reflection of ability to pay

The problem for farmers is that in deciding whether the individual pays or whether the State pays, the Fair Deal scheme unfortunately includes the value of the farm in means testing an applicant. Stock Image: PA
The problem for farmers is that in deciding whether the individual pays or whether the State pays, the Fair Deal scheme unfortunately includes the value of the farm in means testing an applicant. Stock Image: PA
Karen Walsh

Karen Walsh

Farmers are different from most people in Ireland in that they are often asset rich and cash poor. Their assets on paper are not an accurate reflection of their ability to pay.

Farms are often in the family for generations and there is a genuine fear that the farm may have to be sold to repay nursing home fees.

It is also very common that the family home is located in the heart of the farm. If part of the farm must be sold to repay nursing home fees, it can render the remainder of the farm unviable and force a sale of the entire holding.

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