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  #11  
Old 09-18-2021, 04:53 PM
Ozark Bob Ozark Bob is offline
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Default Public Service message to children of seniors

Didn't mean to kill the thread. Just felt a need to give a view from the other side of the fence. I have taken the time to set up a will, being very specific as to my wishes. My daughter being the executor will be making sure things are distributed without her getting in the middle of any possible dispute. She will get compensation and the lawyer will get whatever his fees are. As a senior senior I refuse to use any of the time I have left to selling "stuff" whether I need it in the future or not. If the family is not interested in anything they can just hire someone to auction it off. On my dime of course. My mission in this time of my life is to enjoy anything I still can till I croak. What is left is theirs.
The Lord knows the time and patients it takes to raise children is far greater than any inconvenience the old man kicking the bucket will cause them. JMO Bob
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  #12  
Old 09-18-2021, 06:46 PM
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Sportdog Sportdog is offline
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Maybe because I have been involved helping loved ones struggle through the process of administering a will made this cartoon hit home.
In my will I have tried to be very specific in hopes that the execution of the will goes smoothly.
It is my desire to leave my daughters all my investments and different things of value to my grandchildren. I am 100%, well maybe 99% satisfied with living on just my income, and still manage to save for vacations and cruises every year. If Canada opens next year Iíll be going there too.

I donít feel that I owe my children. Itís something like a going away present for them.
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  #13  
Old 09-21-2021, 10:59 AM
orchard frank orchard frank is offline
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When I first saw that cartoon, I forwarded it to my son. He got a good chuckle. When we moved from the U.P. to Florida, downsizing was a must. Don't have the patience for garage sales, but was fortunate to find homes for most of my "good stuff", Goodwill, Habitat, got a bunch. I left a ton of stuff for the couple who were buying our place.
Second the idea of good wills, advanced directives, etc.
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  #14  
Old 09-23-2021, 03:59 PM
ToThe Woods ToThe Woods is offline
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my dad and stepmother have shown and given me a copy of their will. One thing that I thought was pretty well thought out was naming a friend of their daughter as the executor of the will. Apparently it will eliminate any challenges or possible probate down to almost zero. As an non-family member and completely unbias party she needs to only fulfill the obligations of the written will. She is not and will not get paid so there will be no interest in dragging it on. My father has a very good accountant that has suggested this line. I get the concept but will learn more at tax time when I see him to get the full explanation.
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  #15  
Old 09-24-2021, 04:42 PM
Burr Burr is offline
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As has been mentioned, if you don't have one, get a Will. Make copies and provide them to your trusted family members or friends so there's an opportunity to discuss things before punching out.

We made ours pretty simple, between my wife and I, if one of us goes, it goes to the other. My wife is not a numbers person, and a friend of mine will take care of preparing and selling real estate properties I own in the event I die first, because both my wife and I are concerned she could be taken advantage of. He'll be taken care of for doing so. So I suppose that trusted friend will precede both of us in death.

It's after that when it gets a bit more interesting because we have no children. As a previous poster stated, I guess it will be like a "passing" gift.
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  #16  
Old 09-24-2021, 08:16 PM
port1042 port1042 is offline
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My mother-in-law passed recently and I'm the Personal Representative. There were 3 life insurance policies which were purchased years ago by my father-in-law, for my mother-in-law, and who is long ago deceased.

One policy, $5.000,00, names himself as the primary beneficiary and his oldest son, not oldest child, as the secondary beneficiary.

One policy, $5,000.00, names himself as the primary beneficiary and "my surviving children" as the the secondary beneficiary.

The third policy, about $40,000.00 names himself as the primary beneficiary and "my children" as the secondary beneficiary.

Now, they had 5 children. Their son, the second oldest is alive and in line to receive the benefit from the first policy. I have no idea why he was named as the beneficiary but I have a hunch that 30 years ago grandpa was signing a contract in a corn field and didn't give it much thought. It's probably not what he meant to do but that's what the contract says.

Two of the five children are dead. One left no survivors but the other left two children. "My Surviving Children" cuts those grandchildren out of the benefit. Once again I don't think this is what he had in mind but that's the way it is.

The third policy leaves a nice sum of money to "to my children". I honestly don't know what that means at this point. Is it "surviving children" or do the grandchildren of a passed child benefit? I don't know yet.

My point is, take a look at what your doing and what you've done in the past. It's not as simple as you might think. Grandma's will leave an equal share to each child and a shared benefit for her grandchildren by her deceased daughter. But Life Insurance is not part of the estate and the benefit goes to the named beneficiaries. Think about it!
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  #17  
Old 09-27-2021, 10:43 AM
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AllenW AllenW is offline
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Another way to look at it, why worry about it, they're getting the stuff someone has obtained over the years and they expect the deceased to have spent their time and kept it in order so they don't have to deal with it??

Maybe be grateful for what they get, sounds like more of that gimmie gimmie generation who want the spoils without doing anything for them.

Al...who now can put off cleaning his garage
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  #18  
Old 09-27-2021, 02:12 PM
Derwood Derwood is offline
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Quote:
Originally Posted by AllenW View Post
Another way to look at it, why worry about it, they're getting the stuff someone has obtained over the years and they expect the deceased to have spent their time and kept it in order so they don't have to deal with it??

Maybe be grateful for what they get, sounds like more of that gimmie gimmie generation who want the spoils without doing anything for them.

Al...who now can put off cleaning his garage
Al - Are you picturing Walt's kids and Grandkids from Gran Torino ???

I didn't take any of Sport's comments or the comic he posted to mean what I think you said (or anyone else's). Not sure who said they wanted the "spoils" without doing anything. We're all talking about taking care of FAMILY.
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  #19  
Old 09-27-2021, 07:08 PM
port1042 port1042 is offline
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Quote:
Originally Posted by AllenW View Post
Another way to look at it, why worry about it, they're getting the stuff someone has obtained over the years and they expect the deceased to have spent their time and kept it in order so they don't have to deal with it??

Maybe be grateful for what they get, sounds like more of that gimmie gimmie generation who want the spoils without doing anything for them.

Al...who now can put off cleaning his garage
I only meant to give a tip that you might want to look at the details on current documents. At the time I wrote the message the beneficiaries didn't know about the problem. We've settled it without a problem but it's being done "informally" and the insurance company is paying out as listed on the policies. There was no "gimmie" at all.
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  #20  
Old 09-27-2021, 07:17 PM
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Sportdog Sportdog is offline
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Quote:
Originally Posted by port1042 View Post
I only meant to give a tip that you might want to look at the details on current documents. At the time I wrote the message the beneficiaries didn't know about the problem. We've settled it without a problem but it's being done "informally" and the insurance company is paying out as listed on the policies. There was no "gimmie" at all.
You made great points. I can tell you that being the personal rep is no picnic as taking on that mission you will learn how your family members are. Good and Bad. Or WONDERFUL or I NEVER REALIZED WHAT AN A** HE/SHE WAS!!!
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