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If anybody with out an heir or beneficiary is interested in adopting, I "know" a good looking 61 year old Jewish guy, that likes hunting, fishing, long walks on the beach...
Just throwing it out there
LOL (you beat me to it except I'm female, not Jewish nor do I care for hunting for fishing - but, I like walks on the beach, in the rain and margaritas (can't remember the exact song lyrics)
Not to be morbid, and God forbid anything happens to him first, then what?
Nah, not morbid, just life. But to answer your question, everything goes to me. I'd probably let his brother take what he wants, but otherwise, it's all mine. However, you also have to understand that I'm in charge of all that stuff (wills, insurnace, money, etc), so it's nothing new I'd have to deal with. Which is one less stressor considering I'll probably be in no mood to have to figure things out. Hence why I want to get hubby set up.
I'm glad I saw this thread; I need to get things going.
I'd like to find a worthy person to leave my estate (such as it would be) to. A hardworking person who has had it rough, but is managing well enough, but could use a leg up to do better in life. I don't know anyone like that.
Oh! Me! Pick me, pick me!!!
I'm always struggling, yet always pulling through. Never truly getting too far ahead, before I'm pushed back again. 2 steps forward, 1 step back. Story of my life. Sigh.
I need to find an executor and set up some type of trust. Otherwise my niece and nephew will just blow it all on cars, travel and luxuries.
Quote:
Originally Posted by ysr_racer
You say that like it's a bad thing? Let them spend it any way the want. You're not their parent.
Yes, I know. It shouldn't matter what happens to the money after I'm gone. It's none of my business what my niece and nephew do with the money. I won't be here to know about it. It's just that I have spent the last 25 years of my life managing my portfolio conservatively and letting it grow. It pains me to think of my niece and nephew just pissing it all away.
Their mother received $250,000 life insurance payout when my brother died. She's even worse than her kids, going through the money in less than three years, buying and then losing two houses along the way, and is now a renter and deeply in debt. She had to ask me for help to pay the deposit on the place she lives in now. She doesn't even have the money to replace a missing front tooth.
I don't want my niece and nephew to suffer the same fate as their mom, so I am hoping to set up a spendthrift trust that will keep the principal safe until they are both retirement age and need more income. Despite how I feel about their lifestyle they are my brother's kids, and I feel it is only right to make some provision for them in my will.
If anybody with out an heir or beneficiary is interested in adopting, I "know" a good looking 61 year old Jewish guy, that likes hunting, fishing, long walks on the beach...
Quote:
Originally Posted by psichick
Oh! Me! Pick me, pick me!!!
With all due respect to our most-deserving friends here on the Forum, one hopes - without untoward vanity - to aim a bit higher... perhaps get a building in campus named after me. Maybe endow a foundation. You know the repetitive litany on NPR... "This show is sponsored by the John D and Katherine T MacArthur Foundation, the Bill and Melinda Gates Foundation, the Robert Wood Johnson Foundation, the..." Why not the Ohio Peasant Foundation (OPF)?
Vanity - untoward or otherwise - is tickled by the concept of generations of OPF Scholars, endowed faculty, perhaps even the OPF Prize - as antithesis to the Templeton Prize. Why not?
Exactly. Though it may be shocking to some, not all of us have relatives. Some of us the final branch on the family tree. Our considerations for posthumous disposal of our estates, differ a bit, from those who worry about squabbles between kinsmen, or who intend to leave a legacy.
Yeah, not sure I’m the final branch on the family tree, but no kids, no spouse.
I don’t have a will or a trust. I have an 8 figure net worth and if I were to die today, my 2 sibs would split it. I think about wills and such, but to be honest, at this point in my life, my age and net worth are leverage tools. Sad to say, but I’ll have nieces , nephews and cousins tripping over themselves if I ever need assistance.
Yes, I know. It shouldn't matter what happens to the money after I'm gone. It's none of my business what my niece and nephew do with the money. I won't be here to know about it. It's just that I have spent the last 25 years of my life managing my portfolio conservatively and letting it grow. It pains me to think of my niece and nephew just pissing it all away.
Their mother received $250,000 life insurance payout when my brother died. She's even worse than her kids, going through the money in less than three years, buying and then losing two houses along the way, and is now a renter and deeply in debt. She had to ask me for help to pay the deposit on the place she lives in now. She doesn't even have the money to replace a missing front tooth.
I don't want my niece and nephew to suffer the same fate as their mom, so I am hoping to set up a spendthrift trust that will keep the principal safe until they are both retirement age and need more income. Despite how I feel about their lifestyle they are my brother's kids, and I feel it is only right to make some provision for them in my will.
I get it. None of my heirs will manage money responsibly.
Ive had a DAF for 20 years. All my heirs know the minute I move money there, they will never see it. I can almost guarantee that the DAF will be the biggest asset I have when I die, for those reasons.
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