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Old 08-21-2019, 10:47 PM
 
Location: Southwest Washington State
22,401 posts, read 14,721,805 times
Reputation: 31851

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Quote:
Originally Posted by fluffythewondercat View Post
Nobody.

The odds of that happening to us (or anyone) are very small. Even John and Alicia Nash would be alive today had they been wearing their seat belts.

It's not something I worry about.
Unexpected stuff happens. One of you could die and the other die unexpectedly 7 days later. Or one of you could get really sick, and then the other die first. Johnny Cash was quite ill, but June died unexpectedly first.

You canít know the future. Find a deserving charity and make them the beneficiary. Since it is just you two, who would bury you? Who would clean out your house?
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Old 08-21-2019, 10:57 PM
 
Location: Southwest Washington State
22,401 posts, read 14,721,805 times
Reputation: 31851
Quote:
Originally Posted by Trekker99 View Post
But, at least you got it done, right?

Now, imagine how hard it would be on surviving family members having to deal with your estate and grieve at the same time if you didn't have your affairs in order.

No way would I put my kids and extended family thru the mess/cost/time of probate, court hearings, attorneys, etc.

It'll be hard enough with all of the right documents in place.
DH has everything well organized. But the executor of the trust will still have quite a job doing the job. The trust saves going through probate. But house must be sold, possessions distributed or sold, stocks sold or distributed. Bills must be paid. It will be a process. Luckily executor is an attorney. But, it will be a job. Of course, how much is left will depend on how long we live, and the cost of our end of life care.
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Old 08-21-2019, 11:25 PM
 
Location: Coastal New Jersey
56,979 posts, read 55,300,483 times
Reputation: 67794
Quote:
Originally Posted by ysr_racer View Post
My wife and I went on a major purge of our house and garage. We threw out so much useless junk, that we now have more room to get more useless junk

My wife has a lot of figurines and Chachkies (a yiddish word for trinkets and collectables, AKA crap that you would find in an old lady's house). She's asked our daughter, daughter in-law, and grand daughter if they want any of them now.

All three said "no"
Lol, don't usually correct spelling, but for the sake of Yiddish Words Everyone Should Know, it's "Tchotchkes".

Good word.
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Old 08-21-2019, 11:28 PM
 
5,171 posts, read 2,534,244 times
Reputation: 4694
Quote:
Originally Posted by silibran View Post
DH has everything well organized. But the executor of the trust will still have quite a job doing the job. The trust saves going through probate. But house must be sold, possessions distributed or sold, stocks sold or distributed. Bills must be paid. It will be a process. Luckily executor is an attorney. But, it will be a job. Of course, how much is left will depend on how long we live, and the cost of our end of life care.
A bit like hedging bets, isn't it, and the scope of what we want to leave behind.
Power or attorney, enduring power of attorney - what is the difference?
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Old 08-21-2019, 11:38 PM
 
Location: South Park, San Diego
5,001 posts, read 7,683,512 times
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Because we couldn’t get legally married and have all of the rights immediately conferred upon one because of that otherwise easily obtained status (medical directives, visitation, asset disbursement etc.) even though we had been together for decades we absolutely created a trust with those essentially same structures years ago.

Now that we are finally legally married we have that as a backdrop to our still viable trust. We are a bit more carefully considered as we have no obvious immediate heirs other than parents, siblings and nieces/nephews which you have to specifically designate as recipients to assets or having directives. And, frankly, not feeling the obvious worthy beneficiaries to our assets should we retain them upon our demise, we are yet considering our options. Haha
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Old 08-22-2019, 02:01 AM
 
9,928 posts, read 9,359,974 times
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We just visited our attorney in June and updated our 1989 will. We had small children when the first will was processed. Now children are grown and gone. We changed the deed to our house to "joint tenancy with right of survivorship" and in our state (maybe in all states I don't know) this will avoid probate when either of us departs this world.

Items that each child or grandchild receives is named in the will but we may end up just giving the jewelry, family antiques while we are still living.
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Old 08-22-2019, 09:29 AM
 
Location: Rust'n in Tustin
2,390 posts, read 2,492,741 times
Reputation: 4571
Quote:
Originally Posted by CarolinaWoman View Post
Items that each child or grandchild receives is named in the will but we may end up just giving the jewelry, family antiques while we are still living.
Eleven pages, finally some sanity.
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Old 08-22-2019, 09:30 AM
 
Location: Rust'n in Tustin
2,390 posts, read 2,492,741 times
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But what if your kids have more kids? Redo the will?
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Old 08-22-2019, 12:22 PM
 
Location: SNA=>PDX 2013
2,702 posts, read 3,094,834 times
Reputation: 3149
Quote:
Originally Posted by ysr_racer View Post
No you misunderstood me. What happens when your husband passes, then you pass? Where do your assets go?
Ohhhhhh. Yes, that's why I want to get something written up.

If we both died today (him first, then me), I'd get his stuff, then all of that would go to my mom; intestacy at its best. My mom knows to contact his brother to see if he wants anything before purging it all.

If there's more time between his death and mine, I'd probably make it a bigger priority to get something written up.

My biggest concern would be the dogs and I'm probably going to attack that this weekend - figure out what I need to do to make sure they are cared for or put in a good home.
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Old 08-22-2019, 12:34 PM
 
16,318 posts, read 4,301,859 times
Reputation: 11489
We don't really have one.

I may have an old one sitting around.....

3 Kids and my understanding is they get 1/3rd each if we both go.

We are going to get to it in the next year (we are 65 and healthy).

We do not intend to manipulate from beyond. It will be kept simple. The only slightly complicating part is one child which has a greatly decreased lifespan, but that one is married and we have frankly been giving them anything they need and lots of cash gifts.
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