underpants Posted May 2, 2016 Posted May 2, 2016 (edited) How do you arrange your wealth after your death? Edited May 2, 2016 by a LoveShack.org Moderator Edited typo and moved to new forum ~ V
Gloria25 Posted May 3, 2016 Posted May 3, 2016 (edited) Do you have an attorney? Cuz depending on the complexity of your assets and stuff an attorney can best prepare and guide you when it comes to drafting a will. Yes, there are some online quick stuff, but not sure if everyone can navigate a self-service will drafting software. Some people pick a charitable organization, a person they know (friend, employee, maid), some even leave it to a pet. Some religions - like Islam - break it down so detailed that "someone's getting it (ie a cousin if you have no immediate family). I've heard Prince's death brought to the spotlight the importance of having a properly drafted/executed will. I believe that this is a wonderful opportunity to share/give to others and hope it will be for you. Good luck with your decision. Edited May 3, 2016 by Gloria25
normal person Posted May 3, 2016 Posted May 3, 2016 Go to your lawyer, tell them you want to make a will. You can leave your money to charities or whoever you like.
Author underpants Posted May 3, 2016 Author Posted May 3, 2016 Its funny. I never really cared until a tragedy struck and some family fangs came out. I always have been made to feel worthless, because of false status among others. I found it all odd. Had the judgment all been silent I have and would have continued to give freely, and they would have gotten it all. I started to speak my truth after confrontation a few years ago, and its gotten the ugly (I said "No" one time and it was a waterfall of truth. Just weird. I'm not nearly (orbits away) from Prince was but his passing has given me pause. I have assets, I do have art, it sells. I think of burning it. Ha, I have a vault too. lol...attic. I am looking into charity's, The few I have approached is from a average person wanting to help and have been ridiculed so that is odd. So much for some animal rescue people (weird ime) Its funny how people act.
amaysngrace Posted May 3, 2016 Posted May 3, 2016 (edited) You have absolutely nobody? That makes me sad. Want one of my kids? Like mostly my daughter? Edited May 3, 2016 by amaysngrace
almond Posted May 3, 2016 Posted May 3, 2016 There really is no need to trouble yourself with such things. I'll PM you my details - just leave it with me and I'll take care of it all for you. You're welcome 2
wmacbride Posted May 3, 2016 Posted May 3, 2016 Many not for profit groups have a system for bequests, especially large ones. Not for profit hospitals are almost always happy to accept them as well. If education has always been important to you, you might want to consider leaving something to the scholarship fund for the school of your choice, or, if your estate is significant enough, you may even be able to set up a scholarship fund in your own name for students in need. If helping the environment is important to you, many conservation agencies accept bequests, and some will use them to put towards the purchase of lands they wish to protest. MSF/ Doctors Without Borders accepts bequests. As an aside, I think that it's really thoughtful of you to consider helping others after you have moved on from this life.
burnt Posted May 3, 2016 Posted May 3, 2016 It's very interesting that you asked that. First, I am sorry for how you feel in this world. Second, I can only say, without going into details, that I have some idea about what sort of loneliness it must bring to your mind even to ask the question. I am on a similar boat as you. I have wondered about that same exact question MANY times in recent years. I am not wealthy, but I don't know why, even if it's a single penny I can leave behind I'd like to know it goes into the hands of someone/something that would bring me a bit of peace. I don't have children--nor will I ever. No friends; besides a dysfunctional painful marriage (which will end soon), no family. Yes, as some other posters have suggested, charity has been the only answer to my own question. But for some reason just "giving away the money" to a charity offends my definition of "purpose". I have been thinking for the past couple of years or so about starting something meaningful--like a nonprofit of my own; the problem is I don't have the resources for that--nor do I think I am prepared to handle it now. So my suggestion to you is, can you think about using some of your money NOW into something that gives you sense of "purpose" and "meaning" while you are still alive. If you get involved with an organization whose cause you believe in and then if you leave your money for that organization, it may give the joy and peace of knowing that your money is going into good hands after you're gone. Either way the simplest answer is: go to an attorney and write a will and donate the money to the charity of your choice.
Liam1 Posted May 3, 2016 Posted May 3, 2016 How do you arrange your wealth after your death? Find a good trust and estate attorney. Also there are banks in the USA that can hold and handle a trust, if you become ill, to pay bills, as well as after your death to disseminate your wealth to your chosen beneficiaries. If you have stock or a bank account, you can add a TOD or transfer on death beneficiary. With a TOD, the money goes directly to the beneficiary without being held up in probate court. They still have to pay taxes, on it, but it goes to them immediately after your death. With a TOD for all the assest that can have a TOD, you don't need a will. If you have artwork and such, then you do need a will, so that the artwork or other real property will go to you chosen heir. If you talk to a trust and estate attorney their may be ways to shield your heirs from a huge tax hit.
Gloria25 Posted May 3, 2016 Posted May 3, 2016 Its funny. I never really cared until a tragedy struck and some family fangs came out. I always have been made to feel worthless, because of false status among others. I found it all odd. Had the judgment all been silent I have and would have continued to give freely, and they would have gotten it all. I started to speak my truth after confrontation a few years ago, and its gotten the ugly (I said "No" one time and it was a waterfall of truth. Just weird. I'm not nearly (orbits away) from Prince was but his passing has given me pause. I have assets, I do have art, it sells. I think of burning it. Ha, I have a vault too. lol...attic. I am looking into charity's, The few I have approached is from a average person wanting to help and have been ridiculed so that is odd. So much for some animal rescue people (weird ime) Its funny how people act. Well, hope whatever decison you make, it is a fair one, cuz yes, some people's decision is selfish and inconsiderate on how it may divide the family upon their death. Also, gotta watch most charities. Many have a big administrative overhead - which IMO allows a lot of money to go to people when, IMO, all the money should go to the cause. Wounded Warriors just was exposed to abusing the donations. Running parties, etc. Disgusting. I heard Operation Family Fund puts all the money to the people and people who contribute/volunteer do it without pay and cover their own costd
Satu Posted May 3, 2016 Posted May 3, 2016 Spend your money well while you're alive. Get your pilots licence and buy a plane. To hell with death.
Liam1 Posted May 3, 2016 Posted May 3, 2016 Underpants: Also to add to my other post, if you want to leave the money to one charity or several charities and you want to ensure the money is spent as you wish and only the interest dividend is spent each year, then you can have your trust and estate attorney set up a trust. With a trust the original investment continues to grow, and you only donate the interest or dividend to the charity and you can designate how it is to be spent. This way the original donation will continue to donate long after you are gone and it can not be used unwisely. Find a good trust and estate attorney. Also there are banks in the USA that can hold and handle a trust, if you become ill, to pay bills, as well as after your death to disseminate your wealth to your chosen beneficiaries. If you have stock or a bank account, you can add a TOD or transfer on death beneficiary. With a TOD, the money goes directly to the beneficiary without being held up in probate court. They still have to pay taxes, on it, but it goes to them immediately after your death. With a TOD for all the assest that can have a TOD, you don't need a will. If you have artwork and such, then you do need a will, so that the artwork or other real property will go to you chosen heir. If you talk to a trust and estate attorney their may be ways to shield your heirs from a huge tax hit.
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