AgTalk Home
AgTalk Home
Search Forums | Classifieds (47) | Skins | Language
You are logged in as a guest. ( logon | register )

Estate planning, hope this helps
View previous thread :: View next thread
   Forums List -> Kitchen TableMessage format
 
hinfarm
Posted 4/5/2025 17:31 (#11176960)
Subject: Estate planning, hope this helps



Amherst WI		This post is more of an FYI type deal, hopefully you are going to get more than what you paid for from it.

My mother died at the end of January. She lived alone in a small apartment, (her and my dad divorced in the early 90's, she never remarried).

As she got older she became less and less mobile. She was living on social security and that's it, she had very little of value and the apartment she was in had some mold issues the landlord didn't take care of so some of the stuff she did have that could have some value was damaged from that.

My mother's entire gross worth will be about 1/4 of what the modest funeral costs, dumpster rental and estate attorney I hired to help wrap her estate up.

All that said, this is my request to you.

1. Put your important documents all in one safe place and let those who will be dealing with it know where that is.

2. If your estate has value so low you can't even wrap up your end of life expenses than have one of those who are going to be dealing with it take a small life insurance policy out on you that hey can pay for to take care of that.

3. If you are a hoarder ("collector") start dealing with it so your family can grieve without spending months of their lives disposing of yours.

4. You will have pictures to go through as well. Your heirs will not know who is in about 70% of them. Label them and organize them so they know who it is. That might be their great, great grandparents and they have no idea if it is or not. Might not be a bad idea to have a family tree done too while you're at it.

5. My mom had no will or any directives at all. Her lack of assets has made this almost a non-issue but I couldn't imagine dealing with an estate with multiple heirs and millions to fight and bicker over, so please see to that as well or you may destroy your family when you are gone.

Hope this helps someone, had I known she was that poor I would have bought the policy myself and now it looks more than likely my sister and I will be paying out of pocket for these expenses that her estate won't cover.
Top of the page Bottom of the page


Jump to forum :
Search this forum
Printer friendly version
E-mail a link to this thread

(Delete cookies)