I’m finally seriously looking at writing a will, and the sentiment behind that sentence has come to mind many times.
When we wrote our wills we made the wife’s brothers contingent heirs, but specified THEY alone were the heirs, not their surviving spouses or their heirs or assigns. If they pass before we do then the tertiary heir would be next in line, and that is a non-profit organization my wife and I both support.
Oh, if you are dividing your estate be careful about specifying amounts. Distributing by percentage means all your heirs will get something. Distributing by values only works if the estate has that much left to distribute.
I’m looking at a “split contingency”.
Even though Karla and I aren’t married, if she outlives me the bulk of the estate will have to be liquidated to provide for her. Otherwise, it will be liquidated and split 50-50 between two heirs.
In either case, there are particular items that I want to go to individuals.
What complicates things is I am Karla’s sole caregiver, and if something happened to me and she ended up in some facility, I want to make sure the gubmint can’t get her assets.
I think I need a good estate/trust attorney.
Excellent call. A properly drafted will gives you control over the estate, and if you add a Living Trust your wishes can be carried out WITHOUT going through probate. One CRITICAL task if you go that way is to make the Trust the designated beneficiary for all your accounts and assets.
My wife is executor for an estate where the deceased didn’t complete that step and it took two years and lots of legal fees for the courts to rule T Rowe Price had to close and disburse those accounts.
yeah, my kids think they going to get my stuff. not going to happen.
when I needed help, they where too busy to help.
but when they needed help, I was the first one they called on.
there is one person who stood by and help me thru it all when my back went out.
that was 4 years of unreal pain. she gets it all. changed the will to that effect too.
last couple of years, I have been making a notebook of my “stuff” so she knows
what is worth what for when that time comes. my kids have no idea where I live
these days. if she gets even half of what it all worth, she do okay for a few years
The figures are about 10% of its retail value at an estate sale from my experience. If she can hang on to it and sell privately she will get more.
there a page on how to sell them one at a time at the local shooting club. same with the ammo cans- one at a time.
also a rock bottom worth price. a don’t sell below price
I have seen other women get ripped off by what SHOULD
have been her hubby friends.
got tossed out of gun shop once because I could not stand by and watch them rip a old couple off on a like new in the box commander in 45 acp. they still had the price tag in the box of when the old guy bought it. 78 bucks and change.
the asshole behind the counter was offering 100 bucks for it. when I countered with 400, the guy got pissed as hell
and told me to leave. I told the couple not to take less than 5-600 for it. it was a very nice blue box Colt with all of the paperwork. looked like he never shot it really.
Where was I again?
I’m finally seriously looking at writing a will, and the sentiment behind that sentence has come to mind many times.
When we wrote our wills we made the wife’s brothers contingent heirs, but specified THEY alone were the heirs, not their surviving spouses or their heirs or assigns. If they pass before we do then the tertiary heir would be next in line, and that is a non-profit organization my wife and I both support.
Oh, if you are dividing your estate be careful about specifying amounts. Distributing by percentage means all your heirs will get something. Distributing by values only works if the estate has that much left to distribute.
I’m looking at a “split contingency”.
Even though Karla and I aren’t married, if she outlives me the bulk of the estate will have to be liquidated to provide for her. Otherwise, it will be liquidated and split 50-50 between two heirs.
In either case, there are particular items that I want to go to individuals.
What complicates things is I am Karla’s sole caregiver, and if something happened to me and she ended up in some facility, I want to make sure the gubmint can’t get her assets.
I think I need a good estate/trust attorney.
Excellent call. A properly drafted will gives you control over the estate, and if you add a Living Trust your wishes can be carried out WITHOUT going through probate. One CRITICAL task if you go that way is to make the Trust the designated beneficiary for all your accounts and assets.
My wife is executor for an estate where the deceased didn’t complete that step and it took two years and lots of legal fees for the courts to rule T Rowe Price had to close and disburse those accounts.
yeah, my kids think they going to get my stuff. not going to happen.
when I needed help, they where too busy to help.
but when they needed help, I was the first one they called on.
there is one person who stood by and help me thru it all when my back went out.
that was 4 years of unreal pain. she gets it all. changed the will to that effect too.
last couple of years, I have been making a notebook of my “stuff” so she knows
what is worth what for when that time comes. my kids have no idea where I live
these days. if she gets even half of what it all worth, she do okay for a few years
The figures are about 10% of its retail value at an estate sale from my experience. If she can hang on to it and sell privately she will get more.
there a page on how to sell them one at a time at the local shooting club. same with the ammo cans- one at a time.
also a rock bottom worth price. a don’t sell below price
I have seen other women get ripped off by what SHOULD
have been her hubby friends.
got tossed out of gun shop once because I could not stand by and watch them rip a old couple off on a like new in the box commander in 45 acp. they still had the price tag in the box of when the old guy bought it. 78 bucks and change.
the asshole behind the counter was offering 100 bucks for it. when I countered with 400, the guy got pissed as hell
and told me to leave. I told the couple not to take less than 5-600 for it. it was a very nice blue box Colt with all of the paperwork. looked like he never shot it really.