Gold Pile Posted May 28, 2010 Share Posted May 28, 2010 Do you have a will now? Will you get one someday? Who gets what...and why? Any fears of your wishes not being followed? I'm planning mine now (no lawyer yet, but soon) I have one close (and several distant) relatives that I won't give a penny to. While other close relatives and a few special friends will get something. Looking into a trust to provide income (for life) to certain people, then the left over $$ going where I say, not where they say. Link to post Share on other sites
Jilly Bean Posted May 28, 2010 Share Posted May 28, 2010 Yes, I have both an estate will, and a living will. Most of my estate (cash) goes to various charities, with a small chunk going to siblings. My cars goe to relatives. But, there are stipulations that if a family member doesn't want something I have earmarked for them, then it goes to someone else. Heirloom family treasures are designated to certain family members as well. Also, I have a cash stipend for whomever takes my pets to cover their cost of care. I also am donating my professional wardrobe to a charity that provides business suits for homeless women looking to interview, and most of my household belongings and furniture (besides heirloom items) are marked to be donated to charities as well - both a battered women's shelter, and a homeless veterans shelter. A living will is really important for people to have as well. Link to post Share on other sites
Author Gold Pile Posted June 12, 2010 Author Share Posted June 12, 2010 At least Jilly bean has taken care of things. I think many people are scared to think of their end. And many are afraid to seeing how little they have to give. Link to post Share on other sites
LucreziaBorgia Posted June 12, 2010 Share Posted June 12, 2010 I have a will 'on call' so to speak. It helps to have one when you are like me. Mine is simple, my daughter gets everything. Any money/assets are to be held in trust by her father until she is 18. Should I have another child (which I am damn near desperately trying to do), he'll get half to be held in trust by his father until he is 18. I don't have much, but whatever I have goes to my child(ren), and no one else. Link to post Share on other sites
Leia Posted June 12, 2010 Share Posted June 12, 2010 If I shall die before I have my own family, my house and apartment will go to my brother and sister. My cars will go to my father [he loves cars more than my brother and sister do] and my jewelleries to my mother. All my investments/money will be divided among them all. Link to post Share on other sites
TaraMaiden Posted June 12, 2010 Share Posted June 12, 2010 Yes. All dealt with. I review it on an annual basis, unless circumstances dictate I do it sooner. For example, one of my beneficiaries died last year..... Link to post Share on other sites
carhill Posted June 12, 2010 Share Posted June 12, 2010 I have no heirs so my trustee gets a generous stipend to care for my cat Link to post Share on other sites
Author Gold Pile Posted June 18, 2010 Author Share Posted June 18, 2010 I have no heirs so my trustee gets a generous stipend to care for my cat I like cats! No heirs? hmmm, what about decent people you've known?... I don't feel bound to have everything go to relatives. Perhaps you could leave a percentage to your favorite LS poster, or to me. Link to post Share on other sites
Author Gold Pile Posted June 18, 2010 Author Share Posted June 18, 2010 I have a will 'on call' so to speak. It helps to have one when you are like me. Mine is simple, my daughter gets everything. Any money/assets are to be held in trust by her father until she is 18. Should I have another child (which I am damn near desperately trying to do), he'll get half to be held in trust by his father until he is 18. I don't have much, but whatever I have goes to my child(ren), and no one else. Is the father also your husband? He gets nothing? Link to post Share on other sites
carhill Posted June 18, 2010 Share Posted June 18, 2010 No heirs? hmmm, what about decent people you've known?... I don't feel bound to have everything go to relatives. Once the D is final, the trust will get fine tuned. There are 'decent' people I know and have known and my trustee will make sure those people are rewarded for their generosity of spirit and freely given love and compassion. It may not be piles of gold but nonetheless a token of the debt of gratitude I owe them. It's no surprise that there are women amongst them Link to post Share on other sites
LucreziaBorgia Posted June 18, 2010 Share Posted June 18, 2010 Is the father also your husband? He gets nothing? We are divorced (in the process). He has considerably more than I do! We are on very friendly terms, but even so I doubt he would want anything of mine. It is mostly sentimental stuff passed down in my family, stuff I'd want to pass down to our daughter. He knows he can have whatever he wants of my stuff. I don't know that the future husband will have much use of the stuff either, so the will would stand as is unless we have a child together. To most, it would be junk (stuff that my mothers family sent to me when she died), but it is 'family' junk. The one thing I don't want to pass down to anyone is my medical debt. I wish I knew a legal way to keep that from being passed on to my daughter (and any other kids I might have). Link to post Share on other sites
Author Gold Pile Posted June 18, 2010 Author Share Posted June 18, 2010 .......The one thing I don't want to pass down to anyone is my medical debt. I wish I knew a legal way to keep that from being passed on to my daughter (and any other kids I might have). Hi LB, I respect you for taking care of things when you could be forgiven for not dealing with the the situation so well. I don't understand how YOUR debt would become your daughter's debt. Your creditors are out of luck if your estate isn't enough to pay off your debt. They can't go after the kid(s) for the money. At least that's the way I understand US law. Link to post Share on other sites
carhill Posted June 18, 2010 Share Posted June 18, 2010 Yep, and I just saw last week the sweeping unilateral powers a probate judge has, wiping out creditors claims with a sweep of the pen even when there *was* money in the estate. It pays to have a good lawyer In LB's case, unless DD somehow legally contracted to share the responsibility for the debt, like I have to a limited degree being the 'responsible party' for an incompetent's care, there's no way anyone will be *successful* in going after her daughter when she's gone. Sure they can try, but unless the amount is well into five figures, like 50K or more, the legal costs won't be worth it, IME. Blood and turnip theory Link to post Share on other sites
Art_Critic Posted June 18, 2010 Share Posted June 18, 2010 (edited) I remembered you in my will Gold Pile... You don't get anything.. but it does mention you just so I could say that I remembered to put you in my will.. "To Gold Pile.. I leave nothing.. " hahahahahaha I have always had a Will and an Advance Health Care Directive since the age of 18..it has changed depending on what is happening in my life at the time though. also with a business and a business partner there is more than just a Will.. there are buy/sell agreements and insurance policies, including keyman insurance as well to cover all the corporate stuff and to protect the employees here and the company. Edited June 18, 2010 by Art_Critic Link to post Share on other sites
Shakz Posted June 18, 2010 Share Posted June 18, 2010 If there's anything left after the vultures pick through everything, it will go to my brother. Don't tell him that, though. I'd like to keep on living for a while. Link to post Share on other sites
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