I have no heirs (by Mike [MA]) Aug 12, 2017 6:07 AM|
I have no heirs (by Bill [NC]) Aug 12, 2017 6:16 AM
I have no heirs (by WMH [NC]) Aug 12, 2017 6:19 AM
I have no heirs (by David [NC]) Aug 12, 2017 6:20 AM
I have no heirs (by LindaJ [NY]) Aug 12, 2017 7:19 AM
I have no heirs (by Steve [MA]) Aug 12, 2017 9:05 AM
I have no heirs (by WMH [NC]) Aug 12, 2017 10:37 AM
I have no heirs (by RB [MI]) Aug 12, 2017 12:47 PM
I have no heirs (by JLK [TN]) Aug 12, 2017 1:30 PM
I have no heirs (by AllyM [NJ]) Aug 12, 2017 1:39 PM
I have no heirs (by cjo'h [CT]) Aug 12, 2017 2:17 PM
I have no heirs (by Bill [KY]) Aug 12, 2017 5:23 PM
I have no heirs (by Livethedream [AZ]) Aug 12, 2017 8:53 PM
I have no heirs (by AllyM [NJ]) Aug 13, 2017 6:05 AM
I have no heirs (by Emily [TX]) Aug 13, 2017 6:07 AM
I have no heirs (by Elena [PA]) Aug 13, 2017 7:08 AM
I have no heirs (by Laura [MD]) Aug 13, 2017 8:51 AM
I have no heirs (by rentON [PA]) Aug 13, 2017 10:40 AM
I have no heirs (by BillS [CO]) Aug 13, 2017 11:14 AM
I have no heirs (by Landlord ofthe Flies [TX]) Aug 13, 2017 1:31 PM
I have no heirs (by Mike45 [NV]) Aug 14, 2017 1:25 PM
I have no heirs (by Pmh [TX]) Aug 14, 2017 1:32 PM
I have no heirs (by Chris [CT]) Aug 16, 2017 5:03 PM
I have no heirs (by Sue [MI]) Aug 16, 2017 5:04 PM
I have no heirs (by John... [MI]) Aug 17, 2017 7:04 AM
I have no heirs (by Mike [MA]) Posted on: Aug 12, 2017 6:07 AM
So other than my wife I don't wish to leave my assets to any family member. I have 6 paid off apt houses. Worth aprox 2.3 million, currently .Not counting 2 current personal homes.
I need to do a will (yes way passed time) So do I have to list all assets like the houses individually,..or can I just say all my assets should go to my wife.?
I fished moving 6 months ago and all the (many) bowes are mixed up,..my importaan argument nt papers (deeds) are someewhere in them,..rather not spending the next 6 months looking for them,..I know I can get copies,..but is it necessary to define everything that I own?
I purchased most of my properties before I met my wife,..so all in my name, She has a career and our finances are mostly separate,..we share expenses for our personal houses.etc.
Time has gone by,..but after 24 years,..without a fight or even a bad word between us (neither one of us are dull milquetoasts,.we just don't seem to argue) I think this union is stable,....
She also has no family members she has any desire to leave $$ to,..I think when I'm gone some animal shelters will get some of these funds,... --71.192.xxx.xxx
I have no heirs (by Bill [NC]) Posted on: Aug 12, 2017 6:16 AM
Not leaving anything to my family. No one is entitled to an inheritance. --76.0.xxx.xxx
I have no heirs (by WMH [NC]) Posted on: Aug 12, 2017 6:19 AM
Consult an attorney. Probate laws vary from state to state. Real property is probated differently than cash assets.
You can leave your liquid assets as "Transfer on Death" to a beneficiary and no will is needed, she gets it the day you died, no questions. Much easier and cleaner than leaving it by will.
But houses are different. It might be easier for her for you to add her name to the deeds now, so that she doesn't have to go through probate to get them. That can be a long and difficult process, I am told.
Or put them all in trust for her.
Then a simple will leaving all your other assets like furniture, etc. to her and you are done. --173.22.xx.xx
I have no heirs (by David [NC]) Posted on: Aug 12, 2017 6:20 AM
Nursing home and doctor bills will take it all anyway
Nursing home around here is $5000 a month. Now that's the business to be in. --65.188.xxx.xxx
I have no heirs (by LindaJ [NY]) Posted on: Aug 12, 2017 7:19 AM
You need an estate lawyer, not your usual lawyer, but one that specializes in estate planning. They can advise you about trusts, wills, etc, so you can set everything up properly and tightly enough that it isn't easily contested and your wishes are followed. --96.236.xx.xx
I have no heirs (by Steve [MA]) Posted on: Aug 12, 2017 9:05 AM
When you meet with your lawyer / estate planner ask them how likely is the chance that any of you relatives or your wife's relative might try to contest your estate. Our will leaves everything to the surviving spouse with hopefully minimal tax impact. In the event of both of us going at the same time, things are spelled out very clearly as to who or what organization gets what. We purposely are giving $100.00 each to certain relatives just so they can't try claiming that their not being named was an oversight and they should be entitled to their share. --72.93.xxx.xxx
I have no heirs (by WMH [NC]) Posted on: Aug 12, 2017 10:37 AM
I just realized if you deed them over to your wife now, she gets YOUR tax basis. But if you leave them to her to inherit, she gets a stepped-up basis which would be very nice for her. Talk to an attorney for sure! --173.22.xx.xx
I have no heirs (by RB [MI]) Posted on: Aug 12, 2017 12:47 PM
Congratulations to you !
If things go according to My Plan, I will Die Broke
and the last check will bounce, leaving My Grandkids,
Grandkids, something to talk about, for a Long time.
I have no heirs (by JLK [TN]) Posted on: Aug 12, 2017 1:30 PM
I plan to leave EVERYTHING to my kids. --184.52.x.xx
I have no heirs (by AllyM [NJ]) Posted on: Aug 12, 2017 1:39 PM
I see your point. I don't have any heirs except cousins I don't much like. The reason we leave it to family is because we reincarnate. Wouldn't you like to come back to find all the stuff you worked so hard for paying for your next life? Figure out which relative or other person you might like to enrich so that you can come back in that family and enjoy the wealth you created in this life. After you pass, make your way to that house and wait for someone to get pregnant then hop in. --73.33.xxx.xxx
I have no heirs (by cjo'h [CT]) Posted on: Aug 12, 2017 2:17 PM
Mike, who told you that you're going to kick the bucket first,somebody that I know,If not,then who? Take a step back,then another one and get yourself a good elder care attorney,not an everyday run of the mill guy!You might be leaving it a little late at this stage of the game.and instead of leaving it to a dog that maybe bit your ass off,set up a trust for some bright kid who could do better than you did.Charlie........................................................... --174.199.xx.xxx
I have no heirs (by Bill [KY]) Posted on: Aug 12, 2017 5:23 PM
I absolutely love Ally's unique insight & I mean that sincerely. You're posts make me smile ear to ear sometimes. Absolutely beautiful. --24.26.xx.xx
I have no heirs (by Livethedream [AZ]) Posted on: Aug 12, 2017 8:53 PM
If any of you need an heir to leave your stuff to I will be happy to help you out.
I have no heirs (by AllyM [NJ]) Posted on: Aug 13, 2017 6:05 AM
Thank you Bill. I must get the truth out since the churches don't tell us. --73.33.xxx.xxx
I have no heirs (by Emily [TX]) Posted on: Aug 13, 2017 6:07 AM
I have thought about this myself as we have no children. I don't have a will (yet - I know I need to get on that!), but my thought is to leave everything, after my husband obviously, to my siblings. Additionally I plan to leave a slice to a local animal rescue with the stipulation that they rehome our pets. Some other charities might end up in the plan as well.
When I consulted an attorney about this, which was a while ago, he said that it was not necessary to define every asset in the estate. We would need to specify who would get what portion of it (whatever the total ended up being) as well as any items we wanted to leave to a specific person. Now, that is what I was told in TX about 10 years ago, and obviously you should talk to a local attorney experienced in this area. --155.201.xx.xx
I have no heirs (by Elena [PA]) Posted on: Aug 13, 2017 7:08 AM
What about setting up a scholarship fund in your name? Or donating to a local college once both you and wife pass? Animal shelter. --71.162.xxx.xxx
I have no heirs (by Laura [MD]) Posted on: Aug 13, 2017 8:51 AM
Check out your state laws. I have a friend whos husband just died. Second marriage for both. They discussed and agreed on what the other would inherit.
He died. She is now not getting along with his kids. She visited a lawyer. Turns out in our state a wife is entitled to 1/3 of the house, no matter what the will says. She is now torn between honoring what was agreed upon with her husband or sticking it to kids she is fighting.
Moral...know your state laws. --108.28.xxx.xx
I have no heirs (by rentON [PA]) Posted on: Aug 13, 2017 10:40 AM
What about me, Uncle Mike????? LOL --73.236.xxx.xxx
I have no heirs (by BillS [CO]) Posted on: Aug 13, 2017 11:14 AM
Do your giving while you are living so you know where it's going. This was told to me years ago. There are some charities funded by folks who would roll over in their graves if they saw how the funds were used now. Keep that in mind that after you are gone there is no one to watch how it's used. --73.34.xxx.xx
I have no heirs (by Landlord ofthe Flies [TX]) Posted on: Aug 13, 2017 1:31 PM
Generally you'd say everything to your wife, then name a benefactor next in line should something happen to your wife, etc, etc. Then you can exclude certain items if you want them to go to specific people. But as long as the everything goes to wife part is in there, you don't have to itemize. You also want to designate an executor, like your wife, who will be in charge of the estate, then you may want to have your lawyer take care of it should your wife pass.
Speaking as someone who went through this as an executor, I suggest you put your wife's name on the signature card of all your accounts making her capable of signing checks now. That's really handy while you're in the hospital so she can maintain household.
Also keep in mind, if you do a Beneficiary of Death on your bank account of investment accounts, designating a benefactor, they override your will.
I have no heirs (by Mike45 [NV]) Posted on: Aug 14, 2017 1:25 PM
For a Will, you do not need to specify all the assets, but having some sort of document that does so will certainly help the executor/administrator. We recently discovered a $100,000 CD that my father-in-law owned and that the family did not know of!
For a trust, each asset needs to be transferred into the trust.
You might want to put properties in the names of "Mike and Bride, as joint tenants with right of survivorship." But speak to an estate attorney to see the best way to handle things -- taxes are a major factor!
Lord Of The Flies is correct about getting signatures added to your bank accounts. We had to have a branch manager go to the hospital to get a signature from my father in law after his stroke, even though my wife held his full power of attorney, duly signed and notarized. That was a pain!!
I have no heirs (by Pmh [TX]) Posted on: Aug 14, 2017 1:32 PM
roflmao RentOn (PA).....I will leave nothing if I go after my wife. she gets everything. what I have....but will be selling rental hses to the kids and then will go spend it all & bounce ck to undertaker... --97.94.xxx.xxx
I have no heirs (by Chris [CT]) Posted on: Aug 16, 2017 5:03 PM
Spend it all! --24.45.xxx.xx
I have no heirs (by Sue [MI]) Posted on: Aug 16, 2017 5:04 PM
I plan to leave everything I have left to my kids. The Bible is very pro-inheritance so I am also. --97.95.xxx.xx
I have no heirs (by John... [MI]) Posted on: Aug 17, 2017 7:04 AM
Just my opinion, but most of the bible talk that is "pro-inheritance" is pretty clearly about inheriting the gospel and "honor and support" -- not monetary funds.
Most of the Old Testament "inheritance" is talk about inheriting a piece of the promised land. And then "inheritance" after that was simply preserving that promised land.
And then the New Testament is pretty much ALL about only spiritual inheritance. In fact, Jesus warns that inheriting things of value like money or property tends to lead to greed and an obsession with wealth! Instead, he says to store up "treasures IN HEAVEN."
So, hey, to each their own -- people can leave whatever they want to their kids, of course. It's your stuff to do with what you please. But I'd be careful about suggesting that the bible says to do that. Because that isn't the interpretation I get... :)