Telly
Thinks s/he gets paid by the post
- Joined
- Feb 22, 2003
- Messages
- 2,395
DW and I are long long overdue for the whole will-thing. But procrastination hopefully will make it simpler, since we no longer have minor children, so guardianship, etc. is not an issue.
I guess we need for each of us: A Will, Power Of Attorney, living will or health care directive.
Mutual funds have their own beneficiary designations, but I guess we should review those to verify correctness.
Only real estate is the home we live in, owned jointly, no mortgage. No businesses. Taxable assets are owned jointly. The majority of the non-real estate assets are in IRA's, mostly mine. This is the first and only marriage for DW and I, and plan on it staying that way (at least while both of us are alive).
Want surviving spouse to get it all, then at death pass on to our children. I would want the assets to go to our children, and if they decide to make it joint with their spouse, that would be their decision at the time of disbursement, or later.
Where do we start?
A possible complication... I may get an inheritance soon. It may be large, or it may be zippo. I really have no idea, I never expected anything. I should know in the next few months. I would rather it be zero than some real estate nightmare divided across siblings. Should DW and I go ahead and try to get the whole Will concept started, or should we just wait first to see if there is any inheritance?
I guess we need for each of us: A Will, Power Of Attorney, living will or health care directive.
Mutual funds have their own beneficiary designations, but I guess we should review those to verify correctness.
Only real estate is the home we live in, owned jointly, no mortgage. No businesses. Taxable assets are owned jointly. The majority of the non-real estate assets are in IRA's, mostly mine. This is the first and only marriage for DW and I, and plan on it staying that way (at least while both of us are alive).
Want surviving spouse to get it all, then at death pass on to our children. I would want the assets to go to our children, and if they decide to make it joint with their spouse, that would be their decision at the time of disbursement, or later.
Where do we start?
A possible complication... I may get an inheritance soon. It may be large, or it may be zippo. I really have no idea, I never expected anything. I should know in the next few months. I would rather it be zero than some real estate nightmare divided across siblings. Should DW and I go ahead and try to get the whole Will concept started, or should we just wait first to see if there is any inheritance?