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Old Yesterday, 04:01 AM
 
72,836 posts, read 72,675,802 times
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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.
We never thought much about common death until a few years ago when our son best friends in-laws went out for dinner to celebrate their 40th anniversary....a drunk driver killed crashed in to them killing them both ....

It was just after that event that vanguard dropped beneficiaries from joint accounts ....their reasoning was , that common deaths donít happen and if we are concerned we should use a trust ....really ? No thanks , I pulled my money out and use fidelity and chase where there is no problem with beneficiaries on joint accounts
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Old Yesterday, 05:15 AM
 
3,387 posts, read 3,098,306 times
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Quote:
Originally Posted by lottamoxie View Post
I completed the estate planning process a couple years ago: Will, PoA, HC directive, etc., etc.
Did this last year, including a revocable trust.
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Old Yesterday, 06:42 AM
 
Location: Central Mexico and Central Florida
7,134 posts, read 3,520,053 times
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Quote:
Originally Posted by Bluemind21 View Post
We have those in place on our banking and investment accounts, but what about on a house/property. We sold our home last year to downsize before retirement, but we will eventually purchase another home with cash. Is there a way to have that property transfer to our beneficiaries like the banking and investment accounts without doing a trust, or having their names on the deed with ours?

I gathered all of our account info, passwords, safe combo's and wrote a short letter to our two adult children that I have labeled and placed in a filing cabinet. My husband, and I currently work together, and travel together whenever we can so I wanted to have that info available for our kids in the event we passed at the same time. It was an odd letter to write, but afterward I felt good that "our ducks were in a row" and they wouldn't have to spend a lot of time sorting through our things while they were grieving.
TOD's are available on your real estate in many states.
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Old Yesterday, 06:53 AM
 
72,836 posts, read 72,675,802 times
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Quote:
Originally Posted by dothetwist View Post
TOD's are available on your real estate in many states.
That is one thing we lack in New York ...the ability to do that..it is either trust or probate
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Old Yesterday, 07:56 AM
 
Location: Tennessee
24,107 posts, read 17,928,381 times
Reputation: 28276
I don't. If something happens to me, oh well.
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Old Yesterday, 08:07 AM
 
Location: Coastal New Jersey
56,899 posts, read 55,227,367 times
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I don't have a will, and it's one of those things I guess I should do.

I am divorced, and I have one adult daughter. I don't have anything really to leave except a mortgaged condo, and I have a life insurance policy that will cover the outstanding balance and a little more.

I have a small savings account, but no real money. My pension ends with my death.

I figured it's a no-brainer if I croak without warning, but someone told me I should get the will made anyway. It can be done online, I understand
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Old Yesterday, 08:21 AM
 
1,848 posts, read 652,091 times
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Quote:
Originally Posted by mike1003 View Post
Funeral plans
Our funerals are bought and paid for as well as our cemetery plots.

I'd forgot about that when answering the question. I bought my cemetery plot, designed the headstone and had it created and placed. The only thing that will need to be done later is add the date of death, everything else is already on it. Ownership of the plot will pass to my son at that point. There are additional "spaces" in it if he decides to use it for himself and his family later.

I pre-planned the funeral (meaning I expressed wishes on file at my chosen funeral parlor) but did not pay for it. Frankly, I had a feeling at the time (12 years ago) that my son would be better off financially in the future than I currently was or would be going forward; turns out I was right.

But the "where" of my final resting place was important for me to choose myself rather than have anyone else decide. It took me almost a year to find a cemetery I liked that had a gravesite location that I liked. And I wanted something a little different and more personal than the typical generic headstone. The stonemason duplicated a specific floral decoration that I gave them, and incorporated a poetry line that I wrote myself.
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Old Yesterday, 08:23 AM
 
355 posts, read 96,546 times
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Quote:
Originally Posted by Mightyqueen801 View Post
I don't have a will, and it's one of those things I guess I should do.

I am divorced, and I have one adult daughter. I don't have anything really to leave except a mortgaged condo, and I have a life insurance policy that will cover the outstanding balance and a little more.

I have a small savings account, but no real money. My pension ends with my death.

I figured it's a no-brainer if I croak without warning, but someone told me I should get the will made anyway. It can be done online, I understand
Just a suggestion, but check with your bank and simply fill out a beneficiary form or Transfer/Payable on Death(TOD/POD) to your daughter. Same for your life insurance policy if it has a beneficiary benefit to it.

And, if NJ allows, put your daughter as the TOD/POD on the mortgage title-deed.

Having just a will may still mean putting your daughter thru probate for the condo and your accounts.
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Old Yesterday, 08:35 AM
 
Location: Just west of the Missouri River
691 posts, read 1,339,710 times
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Quote:
Originally Posted by dothetwist View Post
With TOD's and POD's you no longer need either.
That doesn't seem to be true for me. I want to leave my assets to a couple of charities. My bank's POD form says all beneficiaries "must" be individuals.
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Old Yesterday, 08:56 AM
 
Location: Scottsdale, AZ
8,125 posts, read 4,968,337 times
Reputation: 29671
Quote:
Originally Posted by mathjak107 View Post
We never thought much about common death until a few years ago when our son best friends in-laws went out for dinner to celebrate their 40th anniversary....a drunk driver killed crashed in to them killing them both ....
So what? I know someone who won $21 million in the California Lottery. Doesnít mean itís going to happen to me, too.
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