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Old 10-04-2011, 07:02 AM
 
Location: East Coast
2,902 posts, read 4,582,931 times
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Quote:
Originally Posted by Robyn55 View Post
How old are you? 93? Really - how old are you? Do you and your wife both have terminal diseases?

There aren't that many really old people here. What if you or your wife die - and the survivor remarries? Or simply hooks up with someone and lives with that person for a decade or so? And that person maybe takes care of the surviving spouse for quite a few years before he or she dies? Giving out those stickers is what a personal representative does after everyone is dead - not when people are alive. Robyn
Actually, I know of other families where they used the "sticker method" to allow their children to show their preferences for certain items...while the parents were still alive. Maybe the parents don't see themselves remarrying after the death of their spouse? I dunno...
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Old 10-04-2011, 07:24 AM
 
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With some assets you have already designated a benificiary and I would assume you have told them they are the registered beneficiary. Part of the will creation process was making sure as many assets as possible had updated beneficiary information.
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Old 10-05-2011, 05:25 PM
 
Location: Ponte Vedra Beach FL
14,628 posts, read 17,927,825 times
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Quote:
Originally Posted by LibraGirl123 View Post
Actually, I know of other families where they used the "sticker method" to allow their children to show their preferences for certain items...while the parents were still alive. Maybe the parents don't see themselves remarrying after the death of their spouse? I dunno...
I think it is creepy for people in the 60's and 70's and even healthy people in their 80's to have their children put stickers on stuff. Perhaps Normie is older than that? Robyn
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Old 10-05-2011, 05:31 PM
 
Location: The Triad (NC)
28,496 posts, read 62,152,821 times
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Quote:
Originally Posted by Robyn55 View Post
I think it is creepy for people in the 60's and 70's and even healthy people in their 80's to have their children put stickers on stuff.
Agreed.
But people in their 60's and 70's also shouldn't be looking to accumulate even more "stuff" at this stage.

As mentioned earlier in this thread a conscious and deliberate effort should be getting made to shed ourselves of much of these "things" and that the family heirloom and sentimental items especially are getting passed on to the rising grandchildren who will appreciate each item the most.

Take this opportunity to enjoy that giving by participating in the receiving too.

Last edited by MrRational; 10-05-2011 at 05:40 PM..
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Old 10-06-2011, 05:53 PM
 
Location: Ponte Vedra Beach FL
14,628 posts, read 17,927,825 times
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Quote:
Originally Posted by MrRational View Post
Agreed.
But people in their 60's and 70's also shouldn't be looking to accumulate even more "stuff" at this stage.

As mentioned earlier in this thread a conscious and deliberate effort should be getting made to shed ourselves of much of these "things" and that the family heirloom and sentimental items especially are getting passed on to the rising grandchildren who will appreciate each item the most.

Take this opportunity to enjoy that giving by participating in the receiving too.
??????

Why not get more stuff - especially to replace and/or upgrade stuff you have? Am I dead at age 64? Keeping my old towels until they're threadbare? And why start giving away whatever you have at such an early age?

And - if you're 80 - and have grandchildren - they are most likely 20 something or so. And don't have the ability to care for or insure expensive stuff. And perhaps don't appreciate the stuff either. I have a whole house full of mid century modern furniture and home decor (including dishes - flatware - etc.) that I've put together over the years. There is no one in my family who cares about this stuff as much as I do - or who would take care of it either.

Perhaps when you are talking about "family heirlooms" - you are talking about items that have next to zero dollar value - sentimental value only. Or maybe not. When we had parents die - my husband and I put together all of their disorganized photos into family albums. Took us days and days. And when we gave them to siblings - well no one gave a flying f***. Big waste of time IMO (except for the stuff we kept ourselves).

So - is anyone giving away big money stuff today to anyone? Or even putting stickers on it and promising it to anyone? Although I don't have a problem living in retirement - many people with big money stuff may have to sell it to live ok in today's retirement investing environment. Robyn
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Old 10-07-2011, 12:32 PM
 
10,834 posts, read 14,850,338 times
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Quote:
Originally Posted by Robyn55 View Post
??????

Why not get more stuff - especially to replace and/or upgrade stuff you have? Am I dead at age 64? Keeping my old towels until they're threadbare? And why start giving away whatever you have at such an early age?

And - if you're 80 - and have grandchildren - they are most likely 20 something or so. And don't have the ability to care for or insure expensive stuff. And perhaps don't appreciate the stuff either. I have a whole house full of mid century modern furniture and home decor (including dishes - flatware - etc.) that I've put together over the years. There is no one in my family who cares about this stuff as much as I do - or who would take care of it either.

Perhaps when you are talking about "family heirlooms" - you are talking about items that have next to zero dollar value - sentimental value only. Or maybe not. When we had parents die - my husband and I put together all of their disorganized photos into family albums. Took us days and days. And when we gave them to siblings - well no one gave a flying f***. Big waste of time IMO (except for the stuff we kept ourselves).

So - is anyone giving away big money stuff today to anyone? Or even putting stickers on it and promising it to anyone? Although I don't have a problem living in retirement - many people with big money stuff may have to sell it to live ok in today's retirement investing environment. Robyn
To the OP, I am involved in a possible scenario where a parent will have one will executor. That person has the ability to hide certain assets from those who are named in the will as beneficiaries.
My Father, for example, had 7 financial accounts. None were listed in his will, since they did to have to be listed. We were co-beneficiaries, but if one or the other had not been named on say, 3 of the accounts, one of us would not have even known those other 3 accounts existed. The will and the inventory list submitted to probate eventually becomes a public document. But, there are other types of assets that could be left off that list and hidden from other family members. The lone will executor has alot of power.

You never know when you might lapse into deteriorating health. Your wishes stated in your will might become at risk. It is not unheard of, for a person, unknown to relatives, to come into the life of their parent, etc.
You should choose a relative or friend that you trust to the very end, and make sure they have a copy of your will, sealed. If there is any question as to your intent, then that copy helps verify. If a person and their newly acquired care giver, etc. suddenly arrives at the lawyer's office to change the will, the lawyer should have the presence of mind to contact people who were named in the original will, and alert them that he-she (the lawyer) has been visited by the parent, and another person the lawyer does not know by name or face, are asking to change the will.

My Father gave away a few items before his death. I do not see anything wrong with that. He got to see the people, using the items and enjoying them, and using them to make their life better.
One item was a Civil War rifle and the nephew would participate in Civil War re-enactments, so my Father got to see his nephew enjoying the gift, while he was still alive.

When my sibling and I divided personal property some colored stickers were used.
I'm aware of another situation where the parents let all kids and grandkids and other important people in their life, come to the house and each person had different colored stickers and were allowed to select 1-2 items that they would like to have. It was a very pleasant event. There was no, "Oh he wants my "x" after I die." It was not like that at all. The entire process was initiated by the parents and it was a wonderful way to do pre-select some keepsakes.
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Old 10-09-2011, 12:47 AM
 
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If I am the beneficiary and the person passes away then what is the process for me to collect the inheritance?
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Old 10-10-2011, 05:23 AM
 
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Quote:
Originally Posted by Texas User View Post
If I am the beneficiary and the person passes away then what is the process for me to collect the inheritance?
If it is an insurance policy, contact the insurance company. If it is a Will you can either probate yourself or contact an attorney, depending on simplicity.
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Old 10-10-2011, 04:37 PM
 
12,671 posts, read 21,057,764 times
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Quote:
Originally Posted by Ellwood View Post
If it is an insurance policy, contact the insurance company. If it is a Will you can either probate yourself or contact an attorney, depending on simplicity.
I would get a lump sum check? Tax-free?
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Old 10-10-2011, 05:07 PM
 
2,890 posts, read 5,391,076 times
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Chances are, there won't be anything left!

I would tell them that I am leaving everything to charity. If I decide to leave something for them, they will be surprised and grateful.
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