Life Do you have a Will? - Page 3

Jenson71 · 09-01-2011, 08:11 AM

I don't, but I don't have any assets or dependents. I would like to get an unscientific view of what part of the posting population has gone to the trouble of writing out a will with a lawyer.

I'm also sort of planning for life after school, and I think I could open up a shop that specializes in elder law and estate planning.

If you have, what made you do it? How did you determine where to get your will written up?

If you haven't, why haven't you?

**luv** · 09-01-2011, 10:15 AM

Quote:

Originally Posted by Jenson71

Yeah. There are a few different patterns, but the per capita at each generation seems to be a version that clients more often prefer after knowing all possibilities.

I've only been doing this (paperwork-wise) a few months, but I've found that a majority of ours are the typical:

To spouse, unless spouse predeceases. Then equally among children. If any of the children predecease, then their share goes to their children per stirpes.

raybec 4 · 09-01-2011, 10:18 AM

Quote:

Originally Posted by truebigdog

I have one. With some of the things I did in the military, not only was it essentially mandated, but it just seemed like a good idea.

X2

Jenson71 · 09-01-2011, 10:24 AM

Quote:

Originally Posted by luv

I've only been doing this (paperwork-wise) a few months, but I've found that a majority of ours are the typical:

To spouse, unless spouse predeceases. Then equally among children. If any of the children predecease, then their share goes to their children per stirpes.

Is your estates lawyer an older fella?

**luv** · 09-01-2011, 10:26 AM

Quote:

Originally Posted by Jenson71

Is your estates lawyer an older fella?

Both are in their 50's.

**luv** · 09-01-2011, 10:27 AM

I say those are typical, but every situation is a bit different.

And most of the wills are pour-over wills. They try to mostly set up trusts and TOD's. They try to get as little to go through probate as possible. The wills are just for whatever may not have been assigned.

**Donger** · 09-01-2011, 10:30 AM

No, but my kids have one.

ThPantherFan · 09-01-2011, 11:22 AM

I have a general will that states my wife will get everything and in the case she has passed too, the children are to share equally in all monies. As far as material things, the kids can fight over it.

Mile High Mania · 09-01-2011, 11:25 AM

A few years ago, we did Wills and an Estate Trust or something... can't recall officially what it's called. The idea is to account for everything (house, money, policies, etc) and take the kids into account based on if one or both of us passes away... and where they go based on ages. These things can get tricky, but we wanted to leave nothing to chance. So, we have a number of contingencies built in based upon age of the children and who is alive (grandparents, brothers, sisters, etc).

Quote:

Originally Posted by Iowanian

We have one, prepared by an attorney. I have addendum pages with specific items listed (this gun goes to person A) type stuff, that can be modified by me as things or opinions change.

Once you have children, it doesn't matter if you have "stuff", the only responsible thing to do is get into writing what you want done with your children and any funds from your estate to help in their upbringing.

It's not really fun to think about and discussions bring up issues(whose family will raise the kids if you're both killed, who is best, why this sibling is or isn't)....but It's the responsible thing to do to make life easier on everyone else when that time comes.

100% agree... we did ours when our first child was born and have updated recently to reflect the other kids and changes. Determining who should take care of them is the tricky part, but at least we made the decisions and we communicated to the families what should happen just so they know and there are not any surprises.

My grandmother went through Alzheimers a few years ago... it was sad, she had no will and my dad and uncle spent years in court battling over things, all because she never did a will before she started having hints of AZ and then it was too late.

**Bowser** · 09-01-2011, 11:27 AM

The Broncos have a Will. His name is Von Miller and he's going to be better than Derrick Thomas. [/KnowMo]

**CrazyPhuD** · 09-01-2011, 11:27 AM

I only have a way.

**Buehler445** · 09-01-2011, 11:50 AM

I have no kids, and few assets. However, I am (trying, LOL) to accumulate assets and get my business going.

I am going to wait until after 2013 when the numbnuts on Capital Hill figure something out with the tax code. Until then, it is exceedingly difficult to do any estate planning.

**Rain Man** · 09-02-2011, 12:03 PM

I'm roughly halfway through a whole conversion to becoming a trust and doing that whole process. It's a pain in the neck, and may cause my premature death.

On the other hand, if our cat outlives us, he's going to be scoring major kitty with all the money he's getting.

-King- · 09-02-2011, 12:09 PM

Quote:

Originally Posted by Rain Man

I'm roughly halfway through a whole conversion to becoming a trust and doing that whole process. It's a pain in the neck, and may cause my premature death.

On the other hand, if our cat outlives us, he's going to be scoring major kitty with all the money he's getting.

Is that the same cat that used to steal from you?
Posted via Mobile Device

vailpass · 09-02-2011, 12:09 PM

If you do then it is for certain that you also have a way.

**luv** · 09-02-2011, 12:26 PM

Quote:

Originally Posted by Rain Man

I'm roughly halfway through a whole conversion to becoming a trust and doing that whole process. It's a pain in the neck, and may cause my premature death.

On the other hand, if our cat outlives us, he's going to be scoring major kitty with all the money he's getting.

Hmmm... Kitty need a guardian?

View Poll Results: Do you have a will?
Yes - I wrote out a will with a lawyer	22	44.90%
Yes - I wrote my own will	1	2.04%
No - I plan on doing it sometime, but have other priorities now	21	42.86%
No - I don't know how I would go about doing this	2	4.08%
No - the laws of intestacy in my state are good enough for me	3	6.12%
Voters: 49. You may not vote on this poll

09-01-2011, 08:11 AM
Jenson71 fides quaerens intellectum Join Date: Oct 2003 Location: United States Casino cash: $8330900	Do you have a Will? I don't, but I don't have any assets or dependents. I would like to get an unscientific view of what part of the posting population has gone to the trouble of writing out a will with a lawyer. I'm also sort of planning for life after school, and I think I could open up a shop that specializes in elder law and estate planning. If you have, what made you do it? How did you determine where to get your will written up? If you haven't, why haven't you?
Posts: 15,986

09-01-2011, 10:27 AM	#35
luv You think you can get by this? Join Date: Dec 2004 Location: Springfield, MO Casino cash: $-1180000	I say those are typical, but every situation is a bit different. And most of the wills are pour-over wills. They try to mostly set up trusts and TOD's. They try to get as little to go through probate as possible. The wills are just for whatever may not have been assigned.
Posts: 63,558

09-01-2011, 10:30 AM	#36
Donger "Think BOOM!" Join Date: Nov 2003 Location: 33.675° N 106.475° W Casino cash: $6919900 VARSITY	No, but my kids have one. __________________ I think the young people enjoy it when I "get down," verbally, don't you?
Posts: 190,914

09-01-2011, 11:22 AM	#37
ThPantherFan Rookie Join Date: Mar 2009 Casino cash: $9998165	I have a general will that states my wife will get everything and in the case she has passed too, the children are to share equally in all monies. As far as material things, the kids can fight over it.
Posts: 26

09-01-2011, 11:27 AM	#39
Bowser sorta mod-ish Join Date: Jan 2004 Location: KC North Casino cash: $-48384	The Broncos have a Will. His name is Von Miller and he's going to be better than Derrick Thomas. [/KnowMo]
Posts: 106,669

09-01-2011, 11:27 AM	#40
CrazyPhuD Meow Join Date: Jun 2005 Casino cash: $10005050	I only have a way. __________________ "Political correctness is a doctrine, fostered by a delusional, illogical minority, and rabidly promoted by an unscrupulous mainstream media, which holds forth the proposition that it is entirely possible to pick up a t*rd by the clean end"
Posts: 8,523

09-01-2011, 11:50 AM	#41
Buehler445 Supporter Join Date: Apr 2007 Location: Scott City KS Casino cash: $-1395266	I have no kids, and few assets. However, I am (trying, LOL) to accumulate assets and get my business going. I am going to wait until after 2013 when the numbnuts on Capital Hill figure something out with the tax code. Until then, it is exceedingly difficult to do any estate planning.
Posts: 59,935

09-02-2011, 12:03 PM	#42
Rain Man Seize life. Be an ermine. Join Date: Jul 2001 Location: My house Casino cash: $-482449 VARSITY	I'm roughly halfway through a whole conversion to becoming a trust and doing that whole process. It's a pain in the neck, and may cause my premature death. On the other hand, if our cat outlives us, he's going to be scoring major kitty with all the money he's getting. __________________ Active fan of the greatest team in NFL history.
Posts: 145,278

09-02-2011, 12:09 PM	#44
vailpass Psycho Bag Of Squanch Join Date: Sep 2001 Casino cash: $9594244	If you do then it is for certain that you also have a way. __________________ “Education is a weapon whose effect depends on who holds it in his hands and at whom it is aimed.” Joseph Stalin
Posts: 69,591