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Good. Just don’t forget about it. I just turned 68 () and I had my will done last year.. I’m in a much simpler situation - long divorced and only one kid - but with what happened with my parents I wanted to make sure my POA was done. Having all three things done (finally) felt really good. Now if I can just remember to take the time to go over it all with my son!
because my wife and i are out all the time going places as well as both of us simultaneously ending up hospitalized with covid , common disaster events are high on our list.
we realize how easy it is now for both of us to become unable to do certain things in the event it happens to us both , which it did .
so we put as many things on autopilot as we could as well as make it as easy as we could for our kids to run with the ball and have the legal rights to do what’s needed …
in fact one of the things we did is give each of our three kids a sealed envelope.
in the envelope was instructions as to where to find all our estate and account information in the apartment as well as info on our attorney.
so it didn’t take a day before the three of them are going back in forth in texts saying how cool this was , it was like a treasure hunt and we were on the text list …they had us hysterical
I wanted to add that I have no close family members and would probably divide my assets between various friends, possibly a cousin or two (not sure), and a few charities, as well as what I allocate for the care of my cat.
It doesn't help that there's a chance I might be moving within the next year, possibly selling my condo and renting for the foreseeable future. Not sure. But I want to make sure to have at least some kind of legally binding will that in the future I could use as a template if I change something that doesn't need consultation with a lawyer (i.e. update/retype the will, go to a notary).
I want to use a lawyer because I'm afraid my will won't be completely legally binding if I don't. There are a couple of potentially complicated areas...
Huge appreciation for all your comments! Thank you!
Do an internet will for now to cover the money going to the person who takes the cats, and get all legal docs by a lawyer in your new state then - if you are moving next year?
The state laws differ - you may end up needing to pay twice for legal docs?
Regarding the cats: why not make a trust for their care?
It seems that the cats is your main worry? It could be worth it to you.
The main goal of that trust - that money will be dispersed not in a lump sum like you mentioned but regularly - monthly? For their food, vet bills, toys as well as monthly “stipend” to the person who cares for them?
Otherwise, what prevents a person who you think is “nice” now to get your lump sum money and then realize they can’t or don’t want to care for the cats and off to the shelter or worse they go?
In this case, a person or a fancy shelter will keep your cats in comfort as they get their money for care regularly?
Where I live one of our animal no-kill shelters is so much nicer than shelters for people…new, great light filled architecture with heated floors throughout where a lot of volunteers don’t mind spending time playing with shelters animals while they wait for adoption..
while you can leave a cat in a will to someone as property the cat can’t own assets .
so you need a will , trust or beneficiary to get the money to provide for the cat…but you run the risk of it going for other purposes with a will or beneficiary .
a will cant have restrictions or terms for assets to be used . there is nothing preventing them from buying a car.
a trust can be administered by a trustee overseeing that the money is used for the cat but it can be costly if not a friend doing it.
choose a trustee very carefully
Last edited by mathjak107; 01-23-2024 at 10:44 AM..
because my wife and i are out all the time going places as well as both of us simultaneously ending up hospitalized with covid , common disaster events are high on our list.
we realize how easy it is now for both of us to become unable to do certain things in the event it happens to us both , which it did .
so we put as many things on autopilot as we could as well as make it as easy as we could for our kids to run with the ball and have the legal rights to do what’s needed …
in fact one of the things we did is give each of our three kids a sealed envelope.
in the envelope was instructions as to where to find all our estate and account information in the apartment as well as info on our attorney.
so it didn’t take a day before the three of them are going back in forth in texts saying how cool this was , it was like a treasure hunt and we were on the text list …they had us hysterical
I have a sealed envelope too. I just haven't had time to give it to him - we've been so busy. But soon I hope. I also want to add him to my safe deposit box - another thing that is hard to get done with him 5 hours away.
I have a sealed envelope too. I just haven't had time to give it to him - we've been so busy. But soon I hope. I also want to add him to my safe deposit box - another thing that is hard to get done with him 5 hours away.
the bank gave us cards to just have the kids fill out and sign and return to them
OP, you must make arrangements for the cat outside of the will. By the time the will is opened and read, the cat could have been taken by animal control and put to sleep because no one knew that the cat was provided for.
You still make funds available for the cat in the will, but someone you trust must be available to take the cat and take care of the cat until the will is read.
Perhaps have a note on the front of your refrigerator: in case of my illness or death, contact *name* to take care of the cat. Have it where first responders can easily see it.
And a caution. Be very specific about how the cat is to be cared for and how that will be paid. I worked in an office that shared with a humane society and there was a very wealthy person who left everything to the care of her dog. At the dog's death all the money went to the charity that was caring for the dog. Well, the charity, put the dog into the cheapest nastiest boarding kennel where the dog lived out the rest of its life in a tiny filthy cage with no sunlight while the charity waited for him to die so they would get their several millions of dollars. The humane society sued the charity over the care of the dog and a judge said, sorry, the will says nothing about what kind of care, it only says the dog will be cared for and it is being cared for, although admittedly not well.
Be specific about how ypou want your money used to care for the cat.
Last edited by oregonwoodsmoke; 01-23-2024 at 12:10 PM..
Our will was $1200 to set up in Massachusetts (Boston area) about 6-7 years ago. Married couple in 30's (at the time), kids, property, material assets, a few collectable items that i wanted to dictate what happened to.
Really need to go back and amend it slightly.
EDIT: Looked up cost and amended.
Quote:
Originally Posted by mathjak107
if you own a car in many states you can’t transfer it without a will
Yup, found that out last summer when I attempted (and eventually succeeded) to purchase a deceased person's car.
Last edited by BostonMike7; 01-23-2024 at 12:35 PM..
Never adding anything of value but commenting negatively about the facts as presented
There is no one here who can dispute the pitfalls that poster has fallen to over and over by dealing with the small stuff while the big stuff slides by
What's interesting is not so much that you don't like my responses or that you take exception to them, but that but that you miss the main message. My responses aren't generally addressing the facts or your advice; instead they address the tone, manner, and wording of your posts. It is apparent that you have complete contempt for anyone who doesn't take your advice or share your views. It's hard to take advice from anyone who makes it clear you are fool if you don't take it.
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) and I had my will done last year.. I’m in a much simpler situation - long divorced and only one kid - but with what happened with my parents I wanted to make sure my POA was done. Having all three things done (finally) felt really good. Now if I can just remember to take the time to go over it all with my son!
