After posting back and forth with Maurice on this topic, I thought I'd start a thread. We don't have kids, we're 40-something, and with insurance proceeds, we'd have a substantial sum to leave behind. So, not planning on going anywhere anytime soon and definately planning to spend it all, but gotta plan for the unexpected.
I'd like to know from you all the following:
1) Do you think it is necessary to leave something to everyone in your immediate family so nobody feels left out (regardless of whether you're close or not)?
2) Would you leave vastly different amounts to different family members(based on depth of relationship), even if you thought it might create some significant petty jealousies and turn people against each other.
3) Would you include close friends in your will or do you follow a keep it in the family philosophy.
4) Does need factor into your decisions about how much to leave whom? Conversely, would you penalize someone for being wealthier than others by leaving them less than than others or cutting them out (because they wouldn't "need" it).
I'd like to know from you all the following:
1) Do you think it is necessary to leave something to everyone in your immediate family so nobody feels left out (regardless of whether you're close or not)?
2) Would you leave vastly different amounts to different family members(based on depth of relationship), even if you thought it might create some significant petty jealousies and turn people against each other.
3) Would you include close friends in your will or do you follow a keep it in the family philosophy.
4) Does need factor into your decisions about how much to leave whom? Conversely, would you penalize someone for being wealthier than others by leaving them less than than others or cutting them out (because they wouldn't "need" it).