Kirby Posted June 23, 2020 Share #1 Posted June 23, 2020 I had a will and other estate documents such as a power of attorney and living will done decades ago, but I think I need to have them updated, but I've been finding lots of reasons to procrastinate. How about you? Are you current, is this on your to do list or are you just planning to leave a mess and let others figure it out. I think having gone through extended medical stuff with my parents has made me more focused on making sure the right relatives are able to step in and take care of things if necessary. Now I just need to actually get motivated instead of just focused. Link to comment Share on other sites More sharing options...
Kzoo Posted June 23, 2020 Share #2 Posted June 23, 2020 no Link to comment Share on other sites More sharing options...
Razors Edge ★ Posted June 23, 2020 Share #3 Posted June 23, 2020 My wife gets everything, or I get all her stuff. If we both go, there are a bunch of folks in line for our financial stuff. It would, however, make sense to have a will for all the crap we've accumulated like the house, cars, bikes, stuff, etc.. Hmm. Might have to think about this. Link to comment Share on other sites More sharing options...
MoseySusan Posted June 23, 2020 Share #4 Posted June 23, 2020 We put a lot of time into discussing with family who would be comfortable taking on guardianship of #2 son, but then the couple who agreed divorced a few years ago. So, we need to take on that discussion again and update our will. Most of our family would rather not talk about the subject, the two older road children live in another state, and #1 child believes she's not emotionally or pragmatically equipped to be a direct support provider. mr. and I know that Down syndrome comes with a shorter than average lifespan, but there's no telling whether we'll outlive our son. 1 1 3 Link to comment Share on other sites More sharing options...
MoseySusan Posted June 23, 2020 Share #5 Posted June 23, 2020 12 minutes ago, Razors Edge said: My wife gets everything, or I get all her stuff. If we both go, there are a bunch of folks in line for our financial stuff. It would, however, make sense to have a will for all the crap we've accumulated like the house, cars, bikes, stuff, etc.. Hmm. Might have to think about this. We have left the house and stuff to #1 and 2, hoping that our son will be able to remain in his home, and the investments to mr.'s older children. Life insurance distributed equally among them, but #2 son has legal limitations on asset accumulation, so his inheritance goes into a Special Needs trust. 1 Link to comment Share on other sites More sharing options...
Reverend_Maynard Posted June 23, 2020 Share #6 Posted June 23, 2020 I do not have a complicated situation, but still I think it's a good idea to get these things sorted, even for those who think they are just leaving everything to one person. That being said, no, i'm a procrastinator, so I haven't done it. Link to comment Share on other sites More sharing options...
jsharr ★ Posted June 23, 2020 Share #7 Posted June 23, 2020 Not really. Need to correct this. Link to comment Share on other sites More sharing options...
Popular Post Allen ★ Posted June 23, 2020 Popular Post Share #8 Posted June 23, 2020 Did my will not long after I inherited Springwood. If I precede my siblings in death the estate is to be split between them. If I outlive them (which is the plan because I’m the youngest) the estate goes to my nephews. Except for my guns and fishing gear. That collection goes to my two best friend because my nephews are city boys who would have no idea what to do with them. If none of my nephews wish to live here I have asked that they donate the land to UGA’s entomology department to preserve the lighting bugs. They are a jewel of the Earth, and I think they understand how precious they are. 4 2 Link to comment Share on other sites More sharing options...
BuffJim Posted June 23, 2020 Share #9 Posted June 23, 2020 No. My will is written as a 46 year old single Dad with a teenager. About to take a cross country bicycle trip. I am none of those now. Its on the to do list. 1 Link to comment Share on other sites More sharing options...
Further Posted June 23, 2020 Share #10 Posted June 23, 2020 It was supposed to have been done a few months ago. I’ll have to check Link to comment Share on other sites More sharing options...
Prophet Zacharia Posted June 23, 2020 Share #11 Posted June 23, 2020 Yes. I updated it all two years ago before flying to Japan, just in case. 1 Link to comment Share on other sites More sharing options...
12string Posted June 23, 2020 Share #12 Posted June 23, 2020 We didn't really take an inventory. Our will is pretty much just take our stuff, divide by 3. We can trust our kids to be amicable about it. They weren't raised to put a large value on things or money, and they are all doing fine financially, so they'll work it out and still be friends 1 Link to comment Share on other sites More sharing options...
shootingstar Posted June 23, 2020 Share #13 Posted June 23, 2020 I could get better. 2 of my siblings voluntarily offered to help my decision to have power of attorney regarding health/medical...and I trust them because of their health care work backgrounds. They would know how to ask the right/better questions. 1 Link to comment Share on other sites More sharing options...
BR46 Posted June 23, 2020 Share #14 Posted June 23, 2020 All the papers are up to date..T's are dotted and the I's crossed 1 Link to comment Share on other sites More sharing options...
maddmaxx ★ Posted June 23, 2020 Share #15 Posted June 23, 2020 Sometimes I take a sort of perverse pleasure in knowing that someone will fight over my stuff after I'm gone. But then I was also the executor of an estate with a very detailed will where someone got x and someone else got y while z went to a third person etc etc etc and frankly it left everyone wondering why all the various favoritism. Everything goes to womaxx. If the two of us buy it together then everything is to be sold and split among the surviving heirs. They will never be able to get along long enough to come to an amenable solution anyway Link to comment Share on other sites More sharing options...
MickinMD ★ Posted June 24, 2020 Share #16 Posted June 24, 2020 Mine are not up to date and I need to give a list to my siblings about where my money is. My sister is already down as my Series-I Savings Bonds and my Bank Accounts co-owner without sole-privileges and brother and sister and beneficiaries of certain things. When my mother died with no will, orphaned items were turning up for 10-years. An insurance policy here, a Municipal Bond there. She never left a will and I was the executor of the estate and it was a pain legally reopening the estate to deal with late stuff. Link to comment Share on other sites More sharing options...
petitepedal ★ Posted June 24, 2020 Share #17 Posted June 24, 2020 who wants my stuff? 1 Link to comment Share on other sites More sharing options...
Airehead Posted June 24, 2020 Share #18 Posted June 24, 2020 I was just talking about needing to do this. Complicated situation with trusts for the girls and a desire to share family items of historical significance that I hope people will keep but you cannot control that. Link to comment Share on other sites More sharing options...
shootingstar Posted June 24, 2020 Share #19 Posted June 24, 2020 15 minutes ago, petitepedal said: who wants my stuff? They might want 1-2 books. I have books...that you can't get electronically. Not all books are digital. There are thousands of titles that will NEVER be digital....no one wants to invest the time and money to do it. It's that simple and also the whole complicated situation of negotiating copyright to turn it digital. Google learned that the hard way a decade ago. I don't expect hardly anyone would want my stuff. Would I want to wear clothing of a loved one that died recently? I dunno. I have a nice black leather couch. There might be 2-3 pieces of art that I created, that some loved ones might want. In fact, I know someone made a comment awhile ago. Link to comment Share on other sites More sharing options...
Kirby Posted June 24, 2020 Author Share #20 Posted June 24, 2020 7 minutes ago, petitepedal said: who wants my stuff? Even if you're not worried about your stuff, who has authority to make decisions for you if you are injured and can't speak for yourself? Those types of non-financial things should be considered as well. 1 Link to comment Share on other sites More sharing options...
petitepedal ★ Posted June 24, 2020 Share #21 Posted June 24, 2020 I did a health care directive during the Terri Schaivo thing quite a few years ago..still happy with my choice..need to do a will thing.. Link to comment Share on other sites More sharing options...
Zephyr Posted June 24, 2020 Share #22 Posted June 24, 2020 Lol, my son is not even mentioned in our will...., it just says the two girls by name 'and any other children we have in the future' None of them will need guardianship and everything gets divided so each get a third Link to comment Share on other sites More sharing options...
MoseySusan Posted June 24, 2020 Share #23 Posted June 24, 2020 15 minutes ago, Airehead said: items of historical significance that I hope people will keep but you cannot control that. Those items can be placed in a separate trust that allows their loan to museums and reconstructions. Link to comment Share on other sites More sharing options...
Kirby Posted June 24, 2020 Author Share #24 Posted June 24, 2020 Just a reminder that beneficiaries you name on accounts will take precedence over your will. so be sure to check if you've named any beneficiaries on your 401(k, insurance policies or other investment accounts. Link to comment Share on other sites More sharing options...
Bikeguy Posted June 24, 2020 Share #25 Posted June 24, 2020 No... we were going to do this and then the pandemic hit. We have a will that needs to be updated. We need to get a POA and a HPOA created. Link to comment Share on other sites More sharing options...
Airehead Posted June 24, 2020 Share #26 Posted June 24, 2020 And remember to. Are sure your MOLST and/or living will is up to date in case you cannot speak for yourself. Link to comment Share on other sites More sharing options...
Dirtyhip Posted June 24, 2020 Share #27 Posted June 24, 2020 We need to do this. We have some wealth and no direction on who gets what. It would be like a cage match. Yikes. We need to rectify this. I mean his wealth and mine go to each other, but if we both died together it would have great implications Link to comment Share on other sites More sharing options...
Scrapr ★ Posted June 24, 2020 Share #28 Posted June 24, 2020 For the most part everything got updated (done for the first time) when WoScrapr was on hospice. We were unknowingly looking down the barrel of a big tax bill. Attorney set up trusts. We got WoScrapr's funded on Monday. She passed on Thursday. Just this month (13 months after WoScrapr passed) I got everything into the right accounts, Vanguard was spectacular in getting WoScrapr's money moved to her trust. A couple of her accounts were titled slightly incorrect. We were lucky she was able to give voice verification when we were talking to them When Lil Scrapr was small we never could decide on a caretaker if we both went down on a plane trip to the Caribbean. So we just put it off and got lucky 1 Link to comment Share on other sites More sharing options...
Dottleshead ★ Posted June 24, 2020 Share #29 Posted June 24, 2020 Yes. Link to comment Share on other sites More sharing options...
maddmaxx ★ Posted June 24, 2020 Share #30 Posted June 24, 2020 In CT I can't even get my drivers license renewed let alone a will. Link to comment Share on other sites More sharing options...
shootingstar Posted June 24, 2020 Share #31 Posted June 24, 2020 9 hours ago, Scrapr said: For the most part everything got updated (done for the first time) when WoScrapr was on hospice. We were unknowingly looking down the barrel of a big tax bill. Attorney set up trusts. We got WoScrapr's funded on Monday. She passed on Thursday. Just this month (13 months after WoScrapr passed) I got everything into the right accounts, Vanguard was spectacular in getting WoScrapr's money moved to her trust. A couple of her accounts were titled slightly incorrect. We were lucky she was able to give voice verification when we were talking to them When Lil Scrapr was small we never could decide on a caretaker if we both went down on a plane trip to the Caribbean. So we just put it off and got lucky Your story is great example of preparing,.... Link to comment Share on other sites More sharing options...
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