Real Estate Show with Milan Hanson Estate Attorney

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Southern Oregon Real EstateShow with Milan Hanson, Estate Attorney

Alice Lema: [00:00:00] Well, hey, there's Southern Oregon. Welcome back to the real estate show. So glad you could join us again today. And we have a great show in store for you. We have attorney Milan Hanson from Southern Oregon law. Who's going to be on the show in a little bit. And he's going to talk to us about estate planning. We just going to talk about real estate law. And also downsizing. So it's going to be a great show, always informative, always funny. Milan Hanson from Southern Oregon law. We'll be joining us here in just a little bit.

In the meantime, let's talk about the local statistics for all three counties. We're watching the counties move up and down a little bit, trying to get back into a positive. So let's look at Klamath County. The prices year over year are down 12%. The average residential single family home costing in Klamath County, $345,148. The number of sold year over year in Klamath [00:01:00] County are down 25%, but the number of listings year over year in Klamath County are up 1%. So we still need more listings in Klamath County, but they are starting to pop up a little bit.

Josephine County prices year over year are up 1%. The average price of a single family residential home in Josephine County is now 518, 830. The number of solds year over year in Josephine County are down 28%. And the number of listings in Josephine County this week year over year are down 13%. So Josephine County is still struggling with listings as well.

Jackson County prices year over year I'm happy to report are up 6%. The average price of a single family residential home in Jackson County year over year this week is 511, 726. The number of solds in Jackson County are down [00:02:00] 20%. And the number of listings in Jackson County are down 19%.

So folks, you can see we still need a lot more listings. We have a housing shortage on the sales side. If you're thinking anytime in the next 12 months of listing a property, you might want to think about doing it now because you know what? It means less competition, more buyers, and possibly getting closer to your price.

So keep that in mind. In the meantime, we'll keep bringing these statistics for all three counties to you week to week so you can see how the market is changing. In the meantime, let's Get Milan Hanson of Southern Oregon Law out here to talk to us about estate planning, real estate, and downsizing.

We have a quick word from our sponsors. We're brought to you by John L. Scott Ashland and Medford, Guy Giles Mutual Mortgage, and the local Rogue Valley Association of Realtors. We'll be right back. [00:03:00]

Well, Hey, Southern Oregon. Welcome back to the real estate show. And boy, we have a great guest today. We have Milan Hanson, Southern Oregon law. He is an estate attorney and a real estate attorney and comes on the show every so often. Welcome back Milan.

Milan Hanson: Thank you, Alice.

Alice Lema: It's always such a treat to have you on. We so appreciate your time. We always learn a lot by talking to you. For those folks who may not be aware of estate planning or estate law, At all. Can you just give us like a little thumbnail? What's a will? What's a probate? What's a trust? Just a little quick definition. So we know where we're starting.

Milan Hanson: Well, I can tell people that if you don't have a plan for your future, there are Oregon as a plan.

Alice Lema: Aha! That sounds scary.

Milan Hanson: And maybe it's what you want, maybe it isn't. But the best way [00:04:00] to have control of that future is to do planning now. And there are some futures that we don't like to consider. They can be scary thinking about sometimes our own mortality. Sometimes thinking about God forbid that we are alive but not able to speak for ourselves. A lot of that coming on to doing the planning is while you are upright. You have most of your brain cells and it's still able to say what you you think, what you want what you feel and to come up with that plan. to get educated about it. You have now more control over what's going to happen to you and to what your, your assets, sometimes a lifetime's accumulation of of stuff. And where that's going to go and to make sure that that is really in line [00:05:00] with what you have in your head.

Alice Lema: So it's a difficult conversation to have with ourselves and then much less to bring in an expert like yourself. When you, when you meet with somebody for the first time and they're just getting started, what are some of the questions that are commonly addressed in that first consultation?

Milan Hanson: Well, I usually begin a lot with my questions, because sometimes people have ideas, they have some assumptions, they have think, oh, this is just going to do what I want, or, and rather than just dive into that, to get into this play, call it a hypothetical game.

And I say, well, let's examine that or this, sometimes waste a lot of time. People come in and they usually say, I want something simple kind of means. I don't want to think about it. It's [00:06:00] too uncomfortable of a thought. So I really, really begin with that education. And I ask some very big questions. And I have a packet before I even talked to someone, which just immediately starts showing me what the issues are.

And then I know what to ask and to look for. And there's the two, two big topics, your family dynamics and your assets and how they're held. How do you, how do you own it? So once that's taken care of, once we take a look at what's going on under the hood in your life, then we can start to pick apart where, where, what you imagine doesn't fall in line with the plan that Oregon has for you.

And one of the big things that I see people just want, and maybe they assume is going to happen, is that they are going to be able to stay in their own home.

Alice Lema: Oh, till the end.

Milan Hanson: Till the end. I want, I want to, I, [00:07:00] I, we, here in Southern Oregon, we got a great pioneer spirit and I, I am going to, I am, this is where I'm going to pass away. Those doctors aren't going to get me. I'm going to fight to the bitter end. And sometimes that happens because we don't know what the future is. So some of that is where the plan comes into and the more planning, you have more control. And so in order to keep people in their houses for longer, because most people don't consider some of these triggering events, is that you have an opportunity now to do something while it's voluntary, and you can head that, spearhead it, you can, you can take control of that plan, rather than it, assuming that it's okay.

And then it becomes involuntary, because now something has triggered. You have a health complication. Maybe your spouse has a health complication. Maybe you're [00:08:00] slowing down. Maybe you're, you're seeing some signs. Maybe you don't want to, you don't want to acknowledge it. You don't, you can't envision any future for yourself anywhere else.

And so this just never comes up but I, I'm seeing all, especially here in Southern Oregon, we have some beautiful, beautiful rural properties. And some people are love their, their, their, their hobby farms and they pour their life and their soul into it. They love maintaining their acreage. And that's like kind of their retirement plan.

They love their, Oh, they're out there building a garden. They're doing stuff. They're adding, adding a gazebo. And they, they, they're out there on their tractor mowing. They have, and the, some of the danger that I see is especially, I did have a really [00:09:00] good client. And he was going to work even in his 70s.

He did not want to stop being relevant. While he was taking care of his wife at home, who had some early onset dementia. And I had his daughters, he had three daughters that drove down from Eugene. And he was also maintaining this 10 acre property. Everything by himself. And he's like, look, I can do it.

And his, and his daughters very pleasantly said, well, pop, we're trying to just tell you something. We're a little worried. You're, you're a few hours away from us. I have some beautiful grandkids over, over in Eugene that we'd love, we'd love for you to see more. And he was very much dead set on where he was.

But it's scary to think of that world where [00:10:00] suddenly our spouse, which may be even being a caretaker is our main purpose. And then beyond that are maintaining our property. And we love it. Hey, it's this big, this grand vision that we've had for years and we've been building, adding on to it like Monticello from it was gosh, I can't even remember the founding father.

Was that Jefferson? Jefferson. And we keep building this, this great big thing and we don't realize that there may be a day when our spouse passes away. Or we're the one that passes away and our spouse that we were taking care of now are alone. And now there's very abrupt, abrupt changes. Or even then getting, it gets a little bit harder every year just to maintain that property.

And so some of the property goes a little bit, a little bit into disrepair. There's a little, we're trying to maintain it all, but all the, we [00:11:00] forget about that deferred maintenance. And the stuff starts to fall a little bit, hey, but it's okay, we got the inside maintained. Maybe you're not taking care of the outside so much.

And God forbid that there are these times that happen, we're so attached to our property. But we can't, we can't let it go until there's suddenly is an outside force or an inter inside force for our own health, which we can't picture that we might ever lose that one day. And then these become real, a real emergency, a real crisis of meaning and purpose.

So trying, I've been working with many, many seniors now who want to keep their properties at all costs. And I was just looking at the Center for Disease Control. They are labeling loneliness, as one of the big, [00:12:00] big epidemics of our time.

Alice Lema: Oh, interesting.

Milan Hanson: Not, it's not a disease. I didn't know loneliness was a disease. But there, if you have a person that's attached to their property, if they've lost a spouse, maybe they're trying to, make the payments. Maybe they go through a reverse mortgage to try to keep it. But they're still isolated. In isolation, they found is as even if we don't know we're lonely, we don't acknowledge it. Maybe I'm just a natural introvert, which a lot of country people are. Yeah, it gets hard to move around. And even then, going back and forth.

If you have hospital visits, it gets it gets hard to get off the property and to go do things, to get out, to go meet people. And, and we're also finding that as we age, sometimes money or other things don't mean as much. We've, we've lived out our productive years. We've put in our [00:13:00] time, put in our work.

Maybe we are retiring but Now it's coming back. We have a change of our our value system. Money doesn't mean as much. And we don't think that those memories that we've had before or even our relationships that we kind of put by the wayside for so many years, now those are that, that, that, that real currency.

We're finding that in older people, their well being, their mental well being, their own happiness, the quality of life is so directed towards how they are able to maintain their relationships. And living on a beautiful rural property, we get to live our American dream, but without considering what is there going to be that cost being tied so much to my property.

That I am shutting out the rest of the world, or shutting myself off from potential relationships by being kind of alone [00:14:00] on this beautiful property in the woods. And so now if I if I can catch a person right in their 60s, maybe 70s if they're starting to slow down and maybe I'm starting to already just like implant some of the thoughts, like wait a second you have a lot of life transitions.

Most people have not thought about downsizing have not thought about wait is this and sometimes it's just, it's not downsizing in house square footage. Sometimes it's just downsizing in acreage.

Alice Lema: Yeah, yeah. Take care of. Yeah. Not so many cows.

Milan Hanson: Yeah. I've been rather kind of lucky to be in a family that, you know, my father's been an attorney here in Southern Oregon for 40 years. And he's gone through it with my grandfather that they moved from Portland. They had a big, beautiful house trying to keep up with the Joneses in Portland. And then about 15 years ago, they moved here to Southern [00:15:00] Oregon and they got a smaller house. It was downsized and they kind of were begrudging, but they were closer to family.

And that was a big, big transition for them. And they did it. They didn't want to be here. They said, well, we have, we have so much here to do in Portland. And it's like, yeah, but you're not getting out, out of the house in order to enjoy it.

Alice Lema: Oh, interesting.

Milan Hanson: Yeah. The one thing you have is family. So they did make the move to, to Southern Oregon for family.

And then they were there for about five years, before the, even then they went through another realization, wait a second, we're, we're going to need to go, our health, their, their, their minds are still sharp. And sometimes the mind is willing, but the body is not.

Alice Lema: Yeah. And that's hard for people.

Milan Hanson: So they downsized again, and that was going into assisted living facility. And then so navigating each of those transitions [00:16:00] was unless you're, you know about it and you're able to really process it for time, but thinking about having that communication with your family, what are they doing? Are you going to, is it a possibility? What's sometimes when you've lost a spouse, what's tying you to this place?

Alice Lema: All great questions. We're going to have to take a quick break with a word from our sponsors. We're talking to Milan Hanson about downsizing real estate and estate planning. Do not go away.

Well, hey everybody. Welcome back to the real estate show. So glad you could join us today. We're talking to Milan Hanson of Southern Oregon law. He's a real estate attorney and also an estate attorney. And we're talking about estate planning and downsizing and how so many of our elders, especially here in Southern Oregon, they're a hardcore country people and they don't want to leave their land. It's, it's difficult for them.

Yeah.

Milan Hanson: So I was talking about how my grandparents [00:17:00] made this begrudging move from Portland and their big beautiful house, came to Southern Oregon, bought a beautiful new Mahar home in a beautiful subdivision. And it was half the footprint of their bigger place. And they had to get, there was a shedding of stuff.

Alice Lema: Yeah. What was that like for them?

Milan Hanson: Well, for my grandma who in, in, she had dementia the last 10 years ago. She passed away just about two, three months ago. And, but what really motivated her in life was keeping up with the Joneses.

And she knew everything in her house, what year she bought it, what the brand was. She had to tell people what brand it was and what she bought it for. And whether it was on sale and she'll even discounts. And when she was downsizing, she was constantly giving stuff away. And, you know, some of it was good. Some of it was [00:18:00] a little dated. But in her mind, it was like, I bought that at Nordstrom's. How could you, how could you not acknowledge that this is something, this is a precious object? But it was all precious objects. She knew everything about everything in her house. It had a story, not about how she, you know, what it meant to her. It was always about price and brands. But she would always heckle us. Do you have it? Where is it? I want to see that Victorian dining table I had and my China set. Do you have it? Can I, can I, can I see it? Are you taking care of it? You, you're not supposed to put those in the dishwasher.

Alice Lema: Yeah, that's right. Don't put it in the dishwasher.

Milan Hanson: A whole other set of rules. You didn't give me the instruction manual. And she would constantly look at pictures of her beautiful home in Portland. People remember themselves at the high point of their life. What that, in whatever that [00:19:00] decade was that like defines them, defines their clothes what their values are.

And they always remember them at that highest point in their life. And they don't, even as they downsize, they keep the, they keep those, those memories, those beautiful things. And it finally got to the point where, now, most people don't acknowledge because this is, it's, we don't talk about it, is that there's an 80% chance that all of us are going to end up at least two years of our life in some kind of assisted living facility.

Alice Lema: Wow. You know, that makes sense. 80%. Wow.

Milan Hanson: So sometimes that happens if you catch a person that's like the, the, the family's implanted the thought. Somebody, maybe you're slowing down, maybe it's time. And if they're, they're humble enough to accept that, then maybe we can make a good make a transition. It's I mean, it's, it's not always happy.

If you, if you really are defined yourself [00:20:00] by your things and in the place that you live and who your neighbors were and what neighborhood you lived in, and that was hard, but it was hard for my grandparents, but I was proud that they did it. And yeah, because they were in front of it and then they had, they did it twice.

Alice Lema: So that's something I don't think people realize.

Milan Hanson: Because sometimes you move when you make plans. And it really came down to then, where are they going to get the services that they need? And it just so happens, this morning I was on a call with another lady who is the sales director for a very big assisted living facility here.

And has asked me to do another talk. And she, she, her, potential people coming in, and, and to help them in that transition, to help them contemplate this but in those transitions, every step of the way, most people don't, [00:21:00] they want to stay in their home. But if you have this, like, this reality that sets in, if you need more health care, and you're taking maybe weekly visits, to the doctors and you can say, well, I have health insurance.

I've already had, I have great health insurance. I can go in as much as I want. I'm going to keep going in and it's not going to be much more cost to me. But just to, for those health tune ups that keep coming up. If it wasn't my grandma, it would be my, my grandpa. Something happened. Oh, grandma fell down again. And even then if you're going to stay in a place and you really want to age there, you're probably going to have to do some little retrofits.

Alice Lema: You're going to have to do some construction, right?

Milan Hanson: Yeah, put a handlebar next to the toilet. Is this safe? Is this a one story house? Is this the second story? Well, or is there a basement? Hey, maybe those aren't going to be really, if it has a second story or basement, [00:22:00] any place with stairs or on an incline, even just a slight slope, just stairs up to the, up the driveway, those aren't going to be great places to age. When we're talking about some of these triggering events, what, what sometimes happens is it's a fall and that's the first wake up call.

You have a fall. You go into the doctors, the doctors are saying, well you know, maybe, maybe you can do a few retrofits, but I don't know that maybe this will be good for another year, maybe two years, maybe three, but you still might be slowing down. Is that piece of real estate still appropriate for you if you're going to have some mobility issues?

Alice Lema: That's. And I like how you put that is that piece of real estate appropriate for you at this time of your life. Because that takes some of the emotion out of it. And those poor doctors, are they the ones that are breaking the first time if the family doesn't break it to the person, is it the doctor that has to break it to them that they might have to move?

Milan Hanson: Well, they can do what they can. [00:23:00] And they only have so much influence, right? Because I can tell you, yeah, okay, yeah, you broke your hip, I'm gonna, I'm gonna fix, we're gonna fix that up, we got to go in for hip surgery. You don't need to know about the bill. It's going to health insurance has got it covered, but that's a big ordeal.

You're going to be in recovery for a while. Now you're going to get a taste of assisted living, because you're going to have to have nurses or somebody coming in. At least during that recovery. Maybe you have a spouse that's ready and willing to do that. Sometimes the spouse that's still upright, spry, still can take care of themselves, they find some new meaning in being a caregiver.

Alice Lema: But it's hard. It's really hard. And sometimes they don't have the strength or the energy to do that. So you end up with a caregiver anyway.

Milan Hanson: You end, and that is a, that is another hard involuntary triggering event. Some people start to take on the caregiver. And it's like, okay, it starts really low. [00:24:00] It's like, I don't need to do much. Okay, I just need to check on you and get you your meals. And okay, you're good. And I'll drive you to the doctor. And that'll be every now and then. And then it, it starts to get a little more and a little more. And then there finally is this point where so many people that have chosen to be a caregiver. And then now maybe for a few years, three to five years, that's been their reality. That's their new identity. That's their new purpose. My purpose now is to take care of my spouse. I'm going to keep them here. I'm going to keep the house. I'm going to keep this going. I'm going to keep this going as long as we can.

And it's very, very hard to tap out and to say, wait a second, I don't need to take all this. I don't, this is a lot of responsibility and you're putting it on your shoulders and it's hard for professional healthcare givers. Yeah, sometimes nurses or even caregivers that are probably trained in it. It's an incredibly emotionally draining [00:25:00] and stressful job.

And not everybody has a calling for it. Sometimes you're lucky enough to have a family member that's willing to do it. I've seen some families that actually had nurses in the family that they were, Oh, I know exactly.

Alice Lema: Oh, that's lucky.

Milan Hanson: Yeah. Oh, we've got this. And I see, wow, Hey, look, you, you, you've maybe saved the family a lot, the need to move or the need to, you know, you can, you can keep them in place a little longer. But just making it, it, it real considering at some point you may need to downsize again ,maybe it might be too much. You still might end up in assisted living because there they centralize those resources And then you might have to go through that point If you you you've had that emergency you need to go into assisted living. Then maybe the rest of the family, the kids are scrambling to say, well, we need to sell mom's house.

Alice Lema: Yeah. And then that [00:26:00] creates kind of a financial crisis if you're not ready. So what I really love about your practice Milan, is that you've got real estate and estate planning together. And I think that helps people prepare better because so many of our elders, you know, as a real estate agent, I'm finding a lot of them are not financially ready.

Some of my, my own family members and it was a huge crisis. And then the adult kids are standing there having to jump in to help mom or dad because the financial planning that they did wasn't quite adequate.

Milan Hanson: And there's always the question, like, wait a second, I need to sell mom's house. She's in recovery. She's moved to an assisted living facility now as an emergency. And how to closing, how do they have the authority to sell that house?

Alice Lema: Yeah. Yeah. How do they?

Milan Hanson: If, if they have prepared and there are ways that you can [00:27:00] have a more peaceful transition of having somebody be able to manage those assets for you and there, there are the tools in estate planning.

We can make it a little easier so then it's like, wait, this is the family's emergency plan. And then I like to bring in the kids to tell them, hey, this is what this means. This is when the triggering events are. This is when you're going to know to step up. You don't need to do anything ahead of time. It could be a year from now. Could be five years from now. Could be 10. But you now know what it is. And sometimes, and I like to bring the family just so they can ask me questions. What is it? What is a person? What is a will do? What is a power of attorney? What are all these different things? And if we have the tools, bring out which tool, which, which, which document do you need at the right time to make sure you have that successful transition.

Alice Lema: Well, that must be so comforting to them to have all that preparation. And you don't really know is the decline going to be a mental like dementia, because [00:28:00] that's a different strategy and game than if they can't walk, but their mental facilities are still there.

Milan Hanson: That that's the biggest thing about the plan. We don't know what's going to happen. And, and I, I've seen people age so very differently. I've had a 70 year old do a planning with me and he could barely remember. He was still functioning, doing it. He was managing himself. Yeah. He couldn't remember whether he owned a half a million dollar ranch property or not. Is that still, do I still have it? I don't know what happened to it. Oh. And then I, I've had a hundred year old well, I think it was like 99. And he came in and he knew everything about what he was doing and I asked him so you're still good. Are you tired?

He's like, well, I'm a little tired. I I stopped trading my own stocks about two years ago. I decided I was you know what, I'm going to stop micromanaging that. I'll, I'll [00:29:00] let them just ride.

Alice Lema: Wow. A hundred year old. Wow.

Milan Hanson: But sometimes, yeah, we, we age very differently and we can't anticipate how it's going to affect us.

Alice Lema: Yeah, well see. And that's why planning is so important. We're talking to Milan Hanson of Southern Oregon law. He's an estate attorney and a real estate attorney. One of my favorite, favorite people to talk to on the real estate show. We're going to have to take a quick break. We're gratefully brought to you by John L. Scott Ashland and Medford. Guy Giles Mutual Mortgage and our local Rogue Valley Association of Realtors. Thank you so much for helping to bring this show every week. Just a reminder, the show will be rebroadcast tomorrow, Sunday at 6 PM on KCMX 99. 5. Five. Don't touch that dial Milan. Hanson. We'll be right back.

Well, welcome back to the real estate show folks. We've got Milan Hanson here of Southern Oregon law, helping us get a little educated about [00:30:00] a state law and also real estate law.

So Milan, right before the break, we were talking a little bit about some of the triggering events. And downsizing and how people age differently. You were talking about that hundred year old guy who was trading his stocks until 98.

Milan Hanson: It's, it, and we don't know if we're going to make it that long or what our mental faculties are. And that comes down to the plan. He was rather happy where he was. And I think he, he, he probably could afford to have somebody be a caregiver, come into his place and keep him in place. Especially, I mean, if he didn't have, he had a little bit of mobility issues, but he was maybe just using a walker, but that was about it.

Some of us won't have that mobility or it's a roll of the dice. Well, will we be able to stay where we're at. He was probably in a one, story [00:31:00] one story house that was on flat ground. And in at least in a neighborhood, walk around the community, walk around his neighborhood, and there is so much to preparing ourselves.

Because we need to be in places that allow us to have mobility. So we can lose if you don't use it, you lose it. And some of us on rural properties have beautiful, beautiful places in, they never ever walk their property. They don't like it. It's the maybe it's hilly. It's rough. It's it's it's terrain. They don't take a nice little hike or jaunt around, or walk the perimeter. It's a little tough. But if you're in another subdivision, maybe you can get out. Maybe you'd make a little lap.

I know that I go to the it's amazing here, even the Rogue Valley mall. If you're there in the morning, just when they wake up, it's just when they start opening the doors to everyone, you'll see a community of people just doing that lap in the mall because [00:32:00] it's, first off, it's air conditioned. They know that it's flat. They all go there together, and they just make sure that they get their walk in. Because it's nice. There's no bumps. It's clean. And they, they do that in the mall. I'm like, Hey, that's actually nice. That's a, that's a, that's a good thought. They probably don't buy anything, but where you're at, does that open you up to new possibilities? And some people are more proactive about trying to keep their mobility. And knowing, hey, I have to move. I have to at least do my two laps around the mall. Maybe every day, if not every other day, just to make sure my legs are working.

And because if I'm sitting in and I'm, I might be relatively young, but I know I sit, I am anchored in this chair. I'm shackled to my desk and, and my wife says, Nope, you got to keep working. You got to keep working. We've got the family. And I was like, oh, okay. Okay. And I'm young, but I know that I have to change things [00:33:00] myself in order to put these things in place right now.

So I'm in a better place that I've already built those habits that, that to me, I'm a young person and it's challenging. But it opens you up also where you're at your space. It's not just about how fancy and nice it is. It usable? Is it, does it enable you to do the things that you want to do? Sometimes if I catch a couple and they're in their 60s and they're already thinking they've got enough in their retirement and I see that they have this big, big rural property and they love it.

I had another client come in and the wife had a bunch of llamas. She had her hobby llama farm, but the husband really, really wanted to get up and go and travel. And I was like, wait a second. You know what? You're kind of at odds here. You're only have so much energy for the next few years and you're, you're counting on it.

You think [00:34:00] that it's always going to be there and it might not. Even if you are mobile and you like, you don't want to be just relegated to just doing the laps around the mall. You want to get up and go see Italy. You're going to be hiking up and down steps and doing this. And that's going to be a very, very, very different.

If you want to get up and travel, you need to go now. And it was funny. As soon as they left my office, we were going to do an estate plan for them. And, but beyond that, they said, you know what? Thank, thank you, Mr. Hanson. I think you, you know, now you've planted the thought we're going to go sell our, our, our ranch because you told us we're tied to it.

And I was like, yes. You totally that big property. It has that maintenance. It's that dream for a bit. My own mother, my parents, I'm so proud of them. They're trying to sell their place. And my mom horses were what defined a big part of her identity for so many years. And it was hard for her to give it up, but I [00:35:00] think, you know, by the, she'd gone through three open heart surgeries and she's got a pacemaker and I think I, that told her that, you know, she wanted to stay up and be active, but the horses were such a big part of her life, but they were so much maintenance.

There were so much upkeep and I'm proud that she, it's not just being able to tap out when being a caregiver, but being able to tap on it's like, no you know what? There's still a big world out there. I have my property, but I'm not, this property doesn't have to define me. I can do so much more with it.

Alice Lema: What an interesting perspective. That is really beautiful. And then it helps people like the couple with the llama to say, you know what? We, we need to do it now. If we're gonna go to Italy, we need to do it now. You know?

Milan Hanson: Yeah. I, I had another client. I the, the husband had been retired for about five years. And he'd been wanting to go and his wife still was a nurse and wanted to keep working. She could work [00:36:00] until her late sixties and always be useful. She was relevant. And then they were planning a trip to Europe to, to hike on this big trail, this, the Camino or, and he had to back out because he finally had a health problem.

He'd been waiting for his wife to finally give up and retire. All of a sudden he was having health problems. And they weren't able to do the things that they wanted to do. So she's going to go now on the trip without him.

Alice Lema: Oh yeah. Yeah. You don't want to wait. You don't want to wait to live your life.

Milan Hanson: But beyond just even just considering these things, cause that's one of the first step. But beyond that, if you have a good family structure and I see sometimes people that have been stuffing money away in, in, in real estate investments, they've been stuffing a money away in retirement accounts. They're ready.

They have plenty to ride the rest of their lives. But then thinking, wait a second, what's tying me to [00:37:00] this place? Should I be closer to my kids? Should I be closer, it's not just to kids, it's to grandkids. I just had my newborn. I have Arthur, he's nearly a year old now.

Alice Lema: Oh, congratulations.

Milan Hanson: And we have two working parents. My wife is, is working. I'm, I'm working. And it's been nice having, we have two grandmas. We have my wife's mom and my mom here in town, and now I can get free and cheap health care. I'm like, yeah, okay, having these grandmas around, this is great. This is wonderful for young families.

I was like, no, yeah, grandma and grandpa, come live, if not with me, near me. But then there's also people that are having a lot of side family agreements with real estate. Sometimes they're help co signing on their kids loans. Oh, They're, they're they're lending money. And it's like, well, if there wasn't any lending documents, it's really a gift.[00:38:00]

But thinking about it and having it, is there a possibility that you could help your kids? Purchase a bigger house with more bedrooms, and then you live with them and then have that, give them that, that gift while they're alive, they can use it. They can get a bigger house. Get this.

Alice Lema: I love that idea. And you know what, Milan, we're going to be out of time. I'm so sorry, but will you please come back and let's talk more about that because it's a big movement in Southern Oregon. Well, folks, that's all we have for today. Thank you, Milan Hanson. We'll see you again next week. Have a beautiful Southern Oregon weekend.

Bye now.[00:39:00]