Do you have a will? Does your family know its contents?

fuzzybuddy said:
Do you have a will? Does your family know it contents?
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Yes. Our sons have copies & know where we keep an updated list of assets. Worst thing I can think of is the struggle some that don't plan for their heirs to have an easier time dealing with death AND the chaos of not knowing anything about inheritance.

It's not easy to sit down with your family to outline what is to be expected upon death, but a relief once everything is clear. Even something as simple as what to do if found dead in bed was covered in our talks.
 
My daughter already has my will, power of attorney and health directive in her posession. My bank account is a joint account with her as well. I spoke to two of my friends to explain my wishes, just so they won't be surprised by any decisions my daughter has to make, and can help her if she needs it.

Though I trust her completely, it was still hard to give her access to everything. I am still able to look after it myself. It was a relief having it done, I'll never have to worry about it again.

I did make her promise not to have me committed.
 

Yes, we have a will. None of our 3 kids knows what is in it. Our oldest son knows how to get access to it after we are gone. Our lawyer knows he is to get a copy to read to our remaining family. Our oldest son knows where we have a legal document that verifies that he is to get it from our lawyer.
 
All is fine and well when both parents agree, all the children agree, and everyone agrees between parents & children. But, what do you do when parents don't agree, the children don't agree between themselves and their parents? And, when there are several family members of different generations of extended family who are still alive and draw a salary or pension off the greater family business which all were employed in across decades and generations, things get more than sticky. By a trust it all came to me.

Then everyone lawyered-up and war began. Best preplanning could never prepare for this. All the while as grieving for the passing goes on as well. As an only child with no heirs I can only imagine what will happen at my passing. Best revenge for being put through all this is to leave no will or trust to those who follow me. Let them EAT one another! 🤬
 
Yes. Some of our things are TOD (transfer on death) so it doesn't have to go through probate.

My friend's Dad had everything done this way, including his house & there was no will that needed to be filed through the court. He passed a day later than my MIL. His estate was settled in 4 months which included selling the house. My MIL took 1 1/2 years to complete & hers was simple with nothing out of the ordinary. It's just how slow the process is.
 
@Wes I feel for you, my brother, sister and I got along quite well, and when my Dad passed, there were some tense moments over small stuff, can't imagine your situation.
 
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There is only my hubby and I, no children, no relatives wanting the little money we do have. We have had nothing to do with my husband's family for over 30 years. My only relatives are brothers who are very well off. Well, maybe we could leave everything to kitty.:LOL:
 
In my state, a trust is much less expensive than a simple will + probate costs. And as a trust avoids probate entirely, your assets become available your heirs immediately upon death.
 
No. I have my stepfathers durable power of attorney for financial and medial. Lucky for him, he doesn't know what i really think of him.
 
Tommy said:
And as a trust avoids probate entirely, your assets become available your heirs immediately upon death.
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Not quite. There is a waiting period before trust assets can be distributed. For example, in my state - California, there is a 40 day waiting period. This waiting period serves notice on any creditors there may be to come forward and make a claim on the estate before distribution. The reason is obvious. You might want to check what the waiting period is in your state.
 
Remy said:
No. I have my stepfathers durable power of attorney for financial and medial. Lucky for him, he doesn't know what i really think of him.
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At this time many in my family would love to see my demise. Thus one of them I've given financial and medical power of attorney to. Exercising the financial power of attorney immediately places them in the aim of the rest of the family wanting to protect their interests. As for medical power of attorney I have no wish to linger, so all my family are of equal mind - pull the plug so each can get his fat little hand on the estate's goods. As long as I am living there will be peace and certainty. But, as soon as I go it will be all out war.:D
 
Wes said:
At this time many in my family would love to see my demise. Thus one of them I've given financial and medical power of attorney to. Exercising the financial power of attorney immediately places them in the aim of the rest of the family wanting to protect their interests. As for medical power of attorney I have no wish to linger, so all my family are of equal mind - pull the plug so each can get his fat little hand on the estate's goods. As long as I am living there will be peace and certainty. But, as soon as I go it will be all out war.:D
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Not any war here. What I'm dealing with is the stressor of someone with advanced age, living independently but something is going to happen some day. Everything will be on me. I have no support. My damaged brother is abusive. And I have great resentment toward my stepfather. He was a provider but he stood by allowed us kids and himself to be abused. The older I get, the madder I get.
 
while my husband was still alive...I'd done both our wills from info on website from our state....had notorized...my daughter has it in her possession...
the house is still in mine and my husband's name...that worries me...
I want to sell to daughter for $1...all..way before my death..it's in the works
 
bingo said:
I want to sell to daughter for $1...all..way before my death..it's in the works
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Could you just add your daughter as one of the owners. You’d still have control of what happens while you’re in the home.
 
Just yesterday, my son, daughter in law, and I met with our lawyer to update my trust and will. I want to make things as easy as possible for them.
 

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