***RoundGuy June (C)Leaver LC Thread***
06-05-2020
, 05:40 PM
06-05-2020
, 05:41 PM
06-05-2020
, 05:43 PM
06-05-2020
, 05:58 PM
06-05-2020
, 06:32 PM
06-05-2020
, 08:04 PM
06-05-2020
, 08:56 PM
06-05-2020
, 09:07 PM
06-05-2020
, 11:09 PM
Quote:
You are a good dude.
This also makes things much easier on those who care about you during a difficult time for them.
Every adult should have their **** in order in the event of their death. Not doing so is just being selfish and reducing your own suffering at the expense of those you care about.
There are many lists out there of what to do in advance. The goal should be to reduce the impact on your loved ones. That means reducing their burdens as much as you can by doing what you can to:
1 - reduce probate headaches (the legal oversight of the distribution of your remaining estate aka the things you owned)
2 - reduce asset distribution / disposal headaches (the decisions and practical efforts on what to do with your physical stuff)
3 - reduce decisions and costs related to your death, disposal, and the process around it (funeral/wake decisions, costs, etc. cremation vs burial, etc)
Anything you can do to reduce the burden on those who will still be around after you are gone is going to make things a lot easier on them. Estate planning is a lot more than just writing up a will. Make it very clear what you want done with your leftover stuff, what you want done with your body, what if anything you want done using your assets prior to distribution, and so on. Set funds aside to pay for these things directly out of your estate so people aren't trying to put your coffin on their personal credit card.
Not doing these things is just selfish and cruel to those who will have to deal with it later because you were too chickenshit to do it now. They'll already be suffering enough, don't make things even harder on them by being a crybaby now.
A couple of things to look into if you haven't already:
- will
- trust
- living will
- durable power of attorney for health care
- pre-paid funeral plans
- what an executor is and how to choose one
This also makes things much easier on those who care about you during a difficult time for them.
Every adult should have their **** in order in the event of their death. Not doing so is just being selfish and reducing your own suffering at the expense of those you care about.
There are many lists out there of what to do in advance. The goal should be to reduce the impact on your loved ones. That means reducing their burdens as much as you can by doing what you can to:
1 - reduce probate headaches (the legal oversight of the distribution of your remaining estate aka the things you owned)
2 - reduce asset distribution / disposal headaches (the decisions and practical efforts on what to do with your physical stuff)
3 - reduce decisions and costs related to your death, disposal, and the process around it (funeral/wake decisions, costs, etc. cremation vs burial, etc)
Anything you can do to reduce the burden on those who will still be around after you are gone is going to make things a lot easier on them. Estate planning is a lot more than just writing up a will. Make it very clear what you want done with your leftover stuff, what you want done with your body, what if anything you want done using your assets prior to distribution, and so on. Set funds aside to pay for these things directly out of your estate so people aren't trying to put your coffin on their personal credit card.
Not doing these things is just selfish and cruel to those who will have to deal with it later because you were too chickenshit to do it now. They'll already be suffering enough, don't make things even harder on them by being a crybaby now.
A couple of things to look into if you haven't already:
- will
- trust
- living will
- durable power of attorney for health care
- pre-paid funeral plans
- what an executor is and how to choose one
Many lawyers tell people they need a will because wills require probate and lawyers make a lot of money from probate. (Probate is a long, complicated, expensive process where someone goes through the court system to get legal permission to pay your debts and distribute your assets.) What most people really need is a living trust. It's just a legal document you sign saying you are creating a trust, then you title your house and accounts in the name of the trust, with you as trustee. When you die the person you name as successor trustee takes over and there is no probate required. You can easily write your own trust using books or software such as these:
Make Your Own Living Trust by Denis Clifford Attorney $21.49
Get It Together: Organize Your Records So Your Family Won't Have To by Melanie Cullen $17.99
Quicken Willmaker & Trust 2020: Book & Software Kit by Editors of Nolo $56.99
https://www.suzeorman.com/resources/wills-trusts
You can make a trust for your parents too and they can sign it in front of a notary. If you have elderly parents you should also look into estate planning/asset protection for Medicaid purposes so that if they have to go to a nursing home they/you don't lose their entire house value to pay for it.
06-06-2020
, 12:08 AM
06-06-2020
, 02:40 AM
06-06-2020
, 02:54 AM
