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Do you have a will? If not, why not?

NoleATL

NoleATL

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Jul 11, 2007
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My cousin left behind a mess. He was a loner who piled away his money, had a waterfront home in Marathon in the Keys. Tons of stocks, IRA accounts, etc... He was in Vietnam and suffered from PTSD. Pickled himself but not sure if that was due to the PTSD since his dad and brother were the same. I only found this out because due to the rest of his immediate family having already died, the first cousins are the next in line by Florida law.

Mr. NoleATL works in healthcare with dying folks and it is very common for there to be no will, POA, Healthcare directive, etc...

Get your sheet together if you haven't yet...
 
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Yes. Even signed up for the employer legal assistance benefit the one year to specifically draft it
 
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I have a list of my bank accounts emailed to my siblings. I should get a living will.

My Dad is 84 years old and refuses to make a will or living will.

Why? No clue.
 
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NoleATL said:
My cousin left behind a mess. He was a loner who piled away his money, had a waterfront home in Marathon in the Keys. Tons of stocks, IRA accounts, etc... He was in Vietnam and suffered from PTSD. Pickled himself but not sure if that was due to the PTSD since his dad and brother were the same. I only found this out because due to the rest of his immediate family having already died, the first cousins are the next in line by Florida law.

Mr. NoleATL works in healthcare with dying folks and it is very common for there to be no will, POA, Healthcare directive, etc...

Get your sheet together if you haven't yet...
Click to expand...
💯 Not having one creates massive headaches for the loved ones.
 
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NoleATL said:
My cousin left behind a mess. He was a loner who piled away his money, had a waterfront home in Marathon in the Keys. Tons of stocks, IRA accounts, etc... He was in Vietnam and suffered from PTSD. Pickled himself but not sure if that was due to the PTSD since his dad and brother were the same. I only found this out because due to the rest of his immediate family having already died, the first cousins are the next in line by Florida law.

Mr. NoleATL works in healthcare with dying folks and it is very common for there to be no will, POA, Healthcare directive, etc...

Get your sheet together if you haven't yet...
Click to expand...
No but vow to get one this year.
 
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NoleATL said:
My cousin left behind a mess. He was a loner who piled away his money, had a waterfront home in Marathon in the Keys. Tons of stocks, IRA accounts, etc... He was in Vietnam and suffered from PTSD. Pickled himself but not sure if that was due to the PTSD since his dad and brother were the same. I only found this out because due to the rest of his immediate family having already died, the first cousins are the next in line by Florida law.

Mr. NoleATL works in healthcare with dying folks and it is very common for there to be no will, POA, Healthcare directive, etc...

Get your sheet together if you haven't yet...
Click to expand...
Unfortunately I resemble your cousin.
 
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Yes, don't put it off. My younger brother died without one and it makes the whole inheritance process way more complicated.
 
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Everyone has a will. If you don’t make the state has one. Like it or not.

Less than 1 in 5 farm families have a personal will.
 
Yes, I/we have a will and a complete trust document that spells everything out pretty well. I usually update it, or at least review it, about once per year. After going through settling my parents estate, and they had a will, I am even more committed to not creating a hairball for my kids, etc.
 
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StormHawk42 said:
Which is terrible but admittedly keeps me comfortably employed (professional trustee/executor).
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I do a program where we walk thru the stages of not getting it done. Of the ones that do they almost always pick the wrong family member to be trustee. Better they get mad at the trustee than each other.

Had to get restraining orders couple of times.
 
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NoleATL said:
My cousin left behind a mess. He was a loner who piled away his money, had a waterfront home in Marathon in the Keys. Tons of stocks, IRA accounts, etc... He was in Vietnam and suffered from PTSD. Pickled himself but not sure if that was due to the PTSD since his dad and brother were the same. I only found this out because due to the rest of his immediate family having already died, the first cousins are the next in line by Florida law.

Mr. NoleATL works in healthcare with dying folks and it is very common for there to be no will, POA, Healthcare directive, etc...

Get your sheet together if you haven't yet...
Click to expand...
Yep, patterned after what my parents put into place. Our estate will be quite simple to close and our kids are kept up to date as things change. They are good friends and we hope it is a pain less process.
 
Yes, made one when my kids were little. However, at this stage of my life, we need to do a trust. I plan on getting a trust completed at some point in the next few years. I am not sure about exact reasoning, but I have been advised by an attorney that handles these that a trust is a better route once you have a reasonable amount of money in retirement plans. Basically, any middle aged couple that is middle class/ upper middle class and both parents have steadily worked for 25 years or so and has been investing in a retirement plan should probably go the trust route.
 
Just re-did mine with a revocable trust. 3 adult kids, 61 years old, well over 7 figures net worth. Would be beyond stupid for me not to have one.
 
NoleATL said:
My cousin left behind a mess. He was a loner who piled away his money, had a waterfront home in Marathon in the Keys. Tons of stocks, IRA accounts, etc... He was in Vietnam and suffered from PTSD. Pickled himself but not sure if that was due to the PTSD since his dad and brother were the same. I only found this out because due to the rest of his immediate family having already died, the first cousins are the next in line by Florida law.

Mr. NoleATL works in healthcare with dying folks and it is very common for there to be no will, POA, Healthcare directive, etc...

Get your sheet together if you haven't yet...
Click to expand...
I have a similar situation with a first cousin who died with no family or heirs and so his first cousins (like me) are next of kin.
He allegedly drank himself to death - but he left a 7 figure estate. (house, 401, etc) In New York State. I anticipate a check for $9.95 once they slice off the state’s share.
 
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I have a will, a trust, my NOK has a DPOA and MDPOA, and instructions or an advanced directive, she also has a spreadsheet of all financial data and passwords as well as her status. My NOK is my daughter.
 
NoleATL said:
My cousin left behind a mess. He was a loner who piled away his money, had a waterfront home in Marathon in the Keys. Tons of stocks, IRA accounts, etc... He was in Vietnam and suffered from PTSD. Pickled himself but not sure if that was due to the PTSD since his dad and brother were the same. I only found this out because due to the rest of his immediate family having already died, the first cousins are the next in line by Florida law.

Mr. NoleATL works in healthcare with dying folks and it is very common for there to be no will, POA, Healthcare directive, etc...

Get your sheet together if you haven't yet...
Click to expand...
No. I’m satisfied with how the laws of intestacy work should I die, my wife and I die, or if
H whole nuclear family died all at once. But, I should.
 
10kHawk said:
Revocable Trust only way to go
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This. A will requires your assets to go through probate after your death. Which can be complicated and time consuming. A revocable living trust avoids probate.

I draft a simple will for my wife and I a few years ago using software, but really need to see an attorney to establish a trust.
 
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