Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
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?
I'm 34, single and no kids so I still have a chance haha but if it doesn't happen my younger sister is married, has kids. I already have her as my benefactor on my companies life insurance policy and she is my benefactor on my 403(b) plan in case something happens the money in that account goes to her as well. My state pension also has her name on it as well. If something happened today she'd be taken care of.
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
Siblings and/or nieces & nephews are what I've seem several times. Close friends is another, as well as charities. My son had me as his company life insurance beneficiary before he married. I had to remind him to change it to his wife.
My friends have sort of adopted a neighborhood kid. That was back when he was in his late teens, he'd come over and do yard work, they'd pay him and feed him. Then they'd go do things outside of yard work, and it worked into a friendship. Now (about two decades later) he's basically a family member. I don't know if he knows it or not, but they are leaving everything pretty much to him.
We have the same situation although everything is going into a trust and I'm not sure who the successor to us on the trust will be.
We are in our 50s heading for 60s faster than we'd like.
I do have a childless slightly younger sibling, but they'll not need anything from me.
My spouse is an only child with extremely few relatives left.
It's relatively simple:
We have an "adopted" niece/nephew with two "grand-nephews". They are the children of dear close friends of half a lifetime, whom we consider "family". They are the direction of our estate, with some to charity.
The grand-nephews will inherit about 65%, the "adopted" niece/nephew about 25% {for looking after our needs in final years} and the 10% to PBS,our "charity of choice".
The grand-nephews will stand to inherit ONLY after their 30th Birthday {they are under 8 now} SHould we pass before they do turn 30. The reason is simple,and the niece/nephew agree: it is so they won't blow it all before they understand the full value of a dollar.
We are hoping it will pay for college, a house, for them to set up a }profitable} business, or start their retirement well.
Of course, to pay for our care, we MAY not have anything to leave behind, one never knows!
One of my exes basically abandoned his child from a previous relationship some time after our relationship ended. I had become fairly close to the kid when he was small. We have just reconnected and he is all alone in the world at 18 and feeling panicky. He has told me he would welcome any advice. I think I might make him my heir if we continue to be close and he seems like he is on a path to getting his life together. He was dealt a bad hand, and I was dealt such a good one. And he IS at his core a good kid.
Barring that situation, I will either leave any assets to my two best friends or to my favorite cousins.
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?
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.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
