Wills

[Stock Man]

Those of you who are almost ready to ctb, do you have wills or last wishes written for your family and friends? Or are you just leaving a note and leaving?

 

[Linda]

I have had a will for about 45 years. Anyone who has more than a tiny amount of assets ought to make a will - and keep it up to date. Otherwise, the law will dispose of your assets as it sees fit, which might not be the way you want.

 

[CatLvr]

If you have moderate to significant assets, please look into putting those assets into a trust and naming a trustee. Wills can be contested in probate and a lot of us have really toxic family members. Don't let them fuck with the people you love. There is literally nothing they can do if you have your assets placed in a trust. (This is in the US. I don't know about other countries.)

 

[AreWeWinning]

I have had a will for about 45 years. Anyone who has more than a tiny amount of assets ought to make a will - and keep it up to date. Otherwise, the law will dispose of your assets as it sees fit, which might not be the way you want.

"dispose of your assets"? What do you mean? Where I live, there are pretty straightforward rules for inheritance. Even if I don't make a will, my assets won't be disposed of but will go to my relatives in a very specific priority order. I'm not debating whether people should make a will if they want their assets to be distributed in a specific way, in which case they definitely should. But if there is no will, there are still clear rules for which relative gets what. Are there any places where this is not the case?

 

[Linda]

"dispose of your assets"? What do you mean? Where I live, there are pretty straightforward rules for inheritance. Even if I don't make a will, my assets won't be disposed of but will go to my relatives in a very specific priority order. I'm not debating whether people should make a will if they want their assets to be distributed in a specific way, in which case they definitely should. But if there is no will, there are still clear rules for which relative gets what. Are there any places where this is not the case?

They will "go to your relatives in a very specific priority order". That's precisely what I meant by "dispose of" "as the law sees fit".
If you are happy with the default arrangements, then no need to make a will. But it would still be a good idea to review the situation from time to time.

 

[Stock Man]

Very good to know, thank you

 

[J&L383]

If you have moderate to significant assets, please look into putting those assets into a trust and naming a trustee. Wills can be contested in probate and a lot of us have really toxic family members. Don't let them fuck with the people you love. There is literally nothing they can do if you have your assets placed in a trust. (This is in the US. I don't know about other countries.)

Agree. A trust will cost about $2,000. But even a lawyer-drawn will will be several hundred dollars. You could do either one DYI (the internet is great!) but I would have an attorney sign off on it. With a trust you can go to a lot of interesting things with your assets, including leaving everything to your cat.

 

[areyousafe??]

I had my will done a couple of months ago when I was getting close to ctb.