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I'll have some money set aside for my sister if she doesn't go before me...otherwise I plan to spend as much as possible down to that amount! I want to enjoy my retirement!
If you are an older person with some accumulated wealth but no kids in the horizon nor a life long partner, what do you plan to do with your assets when you die? Charity? Family members?
Both of course, including friends, nieces/nephews, non-profit orgs, etc. Not having kids is no big deal.
I'm going to buy small pieces of land scattered all over the country, and stash it in 10-15 different investment accounts so no one can track it all down.
I don't understand this. You'll be dead. Why make it more dificult to track down your assets?
Me-some to a friend, most of it to 2 local charities (library and animal rescue).
My retirement fund to a cancer hospital.
unless I get kids, mine would just go to the state, I don't really mind it going back to them since they will have provided me a good life with pension checks every month and a stable country to live in.
but that's decades away so anything can change.
why do you think it is bad to just return money to the government? At least they help a lot more people than targeted audiences like a charity
You are beyond funny! Sad thing is, I think you really mean this.
We have a very detailed trust designed to keep our families from touching a single penny. I only have one living relative and he's not worth a second thought. We have several children in our life and some very close friends as well as the humane society as beneficiaries of the trust. The trust includes several pieces of expensive jewelry that goes to treasured friends. There are provisions for our animals as well. Best case scenario: The last one of us dies with ten cents in the bank at a very ripe old age. Worst case scenario: The plane goes down, hopefully after we've just had a fabulous trip. I don't want my dieing thought to be about people enjoying what we worked so hard for that we want nothing to do with. I'll die with a smile on my face about that. They're not touching a dime.
You are beyond funny! Sad thing is, I think you really mean this.
The government does much more for the needy as a group than private charities do. Many private charities receive significant support from government in any case and wish they received more. The problem here is that being a national government and all, there is no necessary connection between receipts and outlays. With private charities, you can be sure that a bequest will acrually be used to further the causes that they represent.
I hope to spend most of my money for MY enjoyment in my retirement. Otherwise siblings, nieces and nephews. A cousin of my spouse is an estate and trust attorney, so we've everything in writing, including various possible scenarios, secondary executors and powers of attorney. Anyone who thinks this is unnecessary is foolish. ALWAYS consult a lawyer who specializes in this area, and have things checked every few years or so to see if it needs updating. Why leave a mess for those you love? Why leave things set up or not set up so they might not go where you wanted?
I plan to leave some of it to a young woman I barely know . She reminds me of myself at her age. It's kind of skeevy that I had to keep track of where she is so I could make sure it goes to the right person as hers is a common name. In her case the Internet is definitely her friend.
The rest to charities that promote veganism and animal interests, and also charities promoting literacy.
I'd consider leaving it to a disabled veteran who's 100% disabled. These guys volunteered to fight for their country and its people and way of life; then lost everything. They have little or no chance to acquire any wealth.
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