Lon
Well-known Member
- Location
- Central California
I have always thought that the perfect plan would be to spend your last dollar the day you take your last breath. Saves a multitude of problems.
The Perfect Estate Plan
- Thread starter Lon
- Start date
Warrigal
SF VIP
- Location
- Sydney, Australia
Being of sound mind, I spent it all ?
Seriously though, Sydney house and land prices are ridiculously high right now so I am starting to think of ways to preserve our modest little house up until the day the last of us dies. I cannot see any other way our grandkids will ever be able to afford to own their own homes. This would break the tradition of passing everything onto the children and I know that their retirement income will not be as high as ours is now. I think if I am the last to go, I will consult an estate planner for advice on how to manage my financial remains.
Seriously though, Sydney house and land prices are ridiculously high right now so I am starting to think of ways to preserve our modest little house up until the day the last of us dies. I cannot see any other way our grandkids will ever be able to afford to own their own homes. This would break the tradition of passing everything onto the children and I know that their retirement income will not be as high as ours is now. I think if I am the last to go, I will consult an estate planner for advice on how to manage my financial remains.
Red
New Member
- Location
- Near Toronto
I gave early.....when he really needed it.
jujube
SF VIP
My mother's house was put into a "family trust" ten years ago. Since technically the "trust", and not she, owns the home, it can't be taken away if she needs to go on Medicaid. As the administrator of the "trust", I can sell the home if we need the money to take care of her, but it can't be "taken" away.
