Care to weigh in on how you would divide inheritance

[firebroad]

I had my will drawn up some years ago when advised to do so after contracting cancer. I am well now, but glad I drew up the will, not to make sure anyone inherited per my wishes, but to make sure someone would NOT inherit against my wishes.

Actually, I'm leaving it all the the cat.

 

[bubbasdad]

I had my will drawn up some years ago when advised to do so after contracting cancer. I am well now, but glad I drew up the will, not to make sure anyone inherited per my wishes, but to make sure someone would NOT inherit against my wishes.

Actually, I'm leaving it all the the cat.

If you need a trustee, let me know, we have 3 stray cats living with us. Just in case, ya know?

 

[Seasoned Oak]

I wont be leaving a huge real estate empire behind,most of the real estate is on long term contracts that will be paid off eventually and go to the occupants/buyers, and rightfully so. I did this mainly to liquidate slowly while maintaining income and get away from all the repairs,. problems ect associated with real estate. Should last well into my 70s or longer. Whats left will be some commercial RE and my own home and accounts.

 

[Ashful]

I wont be leaving a huge real estate empire behind,most of the real estate is on long term contracts that will be paid off eventually and go to the occupants/buyers, and rightfully so. I did this mainly to liquidate slowly while maintaining income and get away from all the repairs,. problems ect associated with real estate.

Interesting model. Are these mostly single homes?

 

[Seasoned Oak]

Interesting model. Are these mostly single homes?

Yes

 

[Bobbin]

Estate planning and wills are important! If you don't "spell it out" and "put it in writing" chaos will ensue. I've watched it unfold time and again. I'm stunned by the number of friends I have (who have kids) who don't have a WILL! They have NO clue about how the court system works and what "in testate" means to those who could inherit immediately IF a will had been drawn up.

I've done the caregiving thing (4 yrs. in my home). I've cleaned up the "mess" a rudimentary will left in its wake. I know from whence I speak, you guys. Smarten up, dummies! Everyone loves to hate lawyers... NOT ME! I think lawyers are fabulous. You have to know what you want your lawyer to do for you... and you have to be able to provide the information your lawyer requires. If you can't provide it, you will have to pay your lawyer to find it! Do you see where this is going? someone has to do the "detective work"... can you do it? or is it easier to pay your lawyer to do it?