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Old 01-06-2017, 01:29 PM
 
12,825 posts, read 20,160,725 times
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Quote:
Originally Posted by tijlover View Post
Here I am, 66, and I still haven't made out a Will. What, perhaps, makes it tougher for me is I'm single, no children! And the indecision can drive me kookoo!

I do have 3 nieces, one nephew, but 3 of them are very well off, in no need of it, but my one niece is the poorest, and she could use it. But, due to a wide discrepancies in values/beliefs, I'm not even sure I want to give it to her.

And then there's my 61 YO Mexican roommate who's been with me 15 years, who's been a Guardian Angel to me all these years, and I can hardly call him a roommate anymore, he's family. Now there's a possibility, but he's not a U.S. citizen, only has a Green Card.

And then! There's a whole array of charitable/political groups I'd love to give to as well, but with that direction, I always worry about some of those overpaid leaders, and whether the money will be directed to the most needy or not.

What to do? Anyone else pull their hair out, at times, trying to make these decisions? Or find themselves changing their wills, from time to time?
Think about the Roomie and reconsider the family members you mentioned, even the one who's values you don't like.

When you say some family members are well off, what exactly does that mean? Are they in fact independently wealthy, or, are they merely less under water than the average debt slave? And what do each of their realistic futures (out to end of life) look like? Food for thought.
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Old 01-06-2017, 01:40 PM
 
Location: North Idaho
22,729 posts, read 28,783,807 times
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Quote:
Originally Posted by tijlover View Post
..........

And then there's my 61 YO Mexican roommate who's been with me 15 years, who's been a Guardian Angel to me all these years, and I can hardly call him a roommate anymore, he's family......
Your guardian angel who has put in 15 years making sure you are OK? You really consider leaving him nothing? It makes absolutely no difference that he is a green card holder and not a US citizen.

You don't have to leave the house intact. You can have your estate sell the house and divide the money.

My nephews are money grubbing entitled leeches. Worse yet, they all belong to a church I don't approve of that takes a big cut of its member's money. I'd really hate to know that a big cut of my money is going to that church.

I have an heir, but of he predeceases me, everything goes to the Deerhound Club of America. "What!?" you say?.

That's right. That club is run by people with money who know how to manage money and the bequest will specify medical research. Deerhound medical research is for bone cancer or torsion. Any discoveries in those fields will be exceedingly valuable to human medicine. Medical research on dogs costs a tiny fraction of the cost for identical medical research for humans. All discoveries translate very easily to humans.

I could leave my estate to some cancer charity and 10% of it would go to research.. If I leave it to the Deerhound Club 100% of it not only goes to research, but there are matching funds available so I get 200% bang for my buck. They might even do a "challenge" to get other dog clubs to cough up additional funding.
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Old 01-06-2017, 01:41 PM
 
4,490 posts, read 4,749,659 times
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Quote:
Originally Posted by RiverBird View Post
I LOVE the idea of leaving money to animal no-kill animal shelters. There is ALWAYS a need there.

One could also split an estate 3 or 4 ways, say some to animals, some to people, a certain amt to an organization. They'd each still be getting a good amount.


Yes, like the idea of spreading it around.
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Old 01-06-2017, 01:58 PM
 
7,089 posts, read 4,105,919 times
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Quote:
Originally Posted by oregonwoodsmoke View Post
Your guardian angel who has put in 15 years making sure you are OK? You really consider leaving him nothing? It makes absolutely no difference that he is a green card holder and not a US citizen.

You don't have to leave the house intact. You can have your estate sell the house and divide the money.

My nephews are money grubbing entitled leeches. Worse yet, they all belong to a church I don't approve of that takes a big cut of its member's money. I'd really hate to know that a big cut of my money is going to that church.

I have an heir, but of he predeceases me, everything goes to the Deerhound Club of America. "What!?" you say?.

That's right. That club is run by people with money who know how to manage money and the bequest will specify medical research. Deerhound medical research is for bone cancer or torsion. Any discoveries in those fields will be exceedingly valuable to human medicine. Medical research on dogs costs a tiny fraction of the cost for identical medical research for humans. All discoveries translate very easily to humans.

I could leave my estate to some cancer charity and 10% of it would go to research.. If I leave it to the Deerhound Club 100% of it not only goes to research, but there are matching funds available so I get 200% bang for my buck. They might even do a "challenge" to get other dog clubs to cough up additional funding.
I wish I didn't read that. . .
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Old 01-06-2017, 02:48 PM
 
Location: Tennessee
34,699 posts, read 33,718,482 times
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I have not made a will, either and yes, I have procrastinated. All of my accounts and life insurance have a beneficiary, my sister. But we don't live in the same state and she doesn't travel due to health and financial reasons so while the money is taken care of, the issue with me is what to do with my car (which is fully paid for) and the contents of my apartment...and I really need to think about all of the bills I pay online almost of all of them monthly auto-pay and everything that is auto-renewed. Someone would have to stop them. Honestly, if I'm dead I'm not going to be caring about what happens to those things but I don't want to burden my sister and frankly, I don't trust her husband and older son (an adult) to give them account information now.
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Old 01-06-2017, 05:43 PM
 
Location: Lake Grove
2,753 posts, read 1,978,332 times
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Quote:
Originally Posted by LauraC View Post
I have not made a will, either and yes, I have procrastinated. All of my accounts and life insurance have a beneficiary, my sister. But we don't live in the same state and she doesn't travel due to health and financial reasons so while the money is taken care of, the issue with me is what to do with my car (which is fully paid for) and the contents of my apartment...and I really need to think about all of the bills I pay online almost of all of them monthly auto-pay and everything that is auto-renewed. Someone would have to stop them. Honestly, if I'm dead I'm not going to be caring about what happens to those things but I don't want to burden my sister and frankly, I don't trust her husband and older son (an adult) to give them account information now.
Which is EXACTLY what a will and other legal papers (power of attorney, etc.) are for!

Also, it can be a huge help to survivors if a funeral is preplanned and prepaid. And I believe that money is untouchable by Medicaid, if your situation comes to that. When you sit with an attorney who specializes in this area, they will explain these things to you, and advise you.
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Old 01-06-2017, 08:23 PM
 
6,219 posts, read 2,879,696 times
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My uncle who has no children will leave all.his funds to an athletic club. They distribute to the scholarships and community kids needing camp training.

He is at liberty to do as he pleases. That was his passion . I really wish though he would tend to himself better...he just doesn't see investing in himself is the answer. You'd think he was poor by how he lives... He is financially well off...but dislikes handing out money....
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Old 01-06-2017, 09:48 PM
 
6,329 posts, read 3,586,130 times
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We finally got ours done after a lot of good intentions and procrastinating. We have a daughter and a son. No one else. They can have the house, everything that's in it and the vehicles. If there's still money left in savings they can divide it. They agree that it won't be a problem for them to negotiate splitting it up and DH and I believe that's accurate.


There is no debt at present. I hope that continues. There's a nice chunk for the kids in accidental death if that's a possibility. Still riding our motorcycles. . .


I have my wishes for a funeral on the computer, including music. But it's all optional as far as I'm concerned according to the convenience of whomever takes charge.


I'm glad I took time to read this. I realize I need to provide a list of my automatic payment bills to them. I should also asked DH if there's anything he wants to leave to his nieces and nephews to please write it down.


There will be no charitable donations on my part. I've got my mile-long list of life-long charitable deeds ready to present at the Pearly Gates. The hard-working kids need it more than anyone I know.
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Old 01-07-2017, 12:43 AM
 
6,886 posts, read 7,295,373 times
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This is indeed an interesting topic. And it’s clear people have their own opinions and strategies.

I’m single, no kids. I have 3 siblings, 15 nieces and nephews, and four grand nieces and nephews. I’ll likely have more of those by the time I pass because some of my nieces and nephews are only 10 and younger. As of now, all I have will be split evenly among my siblings, except what goes to a friend who is my POA and executrix. If any sibs are dead, THEIR SHARE, goes to THEIR kids. (There are provisions for minors. But other than that – that’s the basic structure of who gets what.)

MY dilemma is my friend is six years older than I am so who do I pick as the BACK UP POA and executrix. My siblings are in their 50s and I STILL don’t think they’re as savvy, knowledgeable and detailed as I’d like them to be on these kinds of matters.

Personally, I just usually believe that if there are people of equal standing they get distributed to equally. If it’s three sons, they all get equal. If it’s two siblings, they all get equal. To me that’s just the fair way to do it. Now obviously if one child took care of a parent and others did not – or if one child is disabled and the others are not that’s different. But even then, I wouldn’t cut the others out. After allowances for those special situations....the rest of my estate would still be split evenly.

In my own family, one brother got more financial help from mom over the years (he did need it at the time) -- but, in the end, after mom died anything left was split evenly. We didn’t try to “make up for” him getting more while she was alive. But again – IF it’s clear while a parent is alive – “you’re getting this NOW, but will get less later” – that’s different. But just because a parent paid one sibling’s mortgage for a few months or paid another one’s utility bill every now and then, to me that doesn’t warrant an estate not being split evenly.

To me it’s penalizing a child who does well – just because they did well. It’s not their fault they did well. In general, I just don’t think “s/he needs it more” is a reason -- for ME not to split evenly. Again that’s just my position. Clearly, many people disagree. I also leave an inheritance to people because I want them to have it. IF they pi ss it away or even if I know they haven’t been responsible with what they’re already had – that’s not my issue. I’m not trying to reward, punish or control people from the grave.
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Old 01-07-2017, 08:03 AM
 
Location: Lake Grove
2,753 posts, read 1,978,332 times
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Your attorney can be a backup as an executor.
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