Community Chat

[Kalli]

I know of situations where money/assets left behind cause permanent problems within a family group.  I would never want that to happen between my two grown children.  They have a nice relationship and I never want to be the cause of that to derail.

We need to update our will.  However, the old one already states they each get half of what we leave behind.  That works for us. 

With regard to our pets, I have a separate savings account specifically set aside for this purpose.  My dogs and cat will be taken by 2 trusted friends.  They'll each get some money.  But the largest amount will be given to my other friend who lives on a farm and has agreed to keep my horse there if I die.  This will ensure he doesn't wind up at auction and go for slaughter. 

[VaBelle35]

My favorite family dispute was over the amount left to the already deceased and then that share is then split between the siblings who are still living.

Just a very confusion math problem and such a convoluted paragraph for the executor to execute because everyone had a different understanding of the paragraph and several, who understood the original intent, ended up having to go to court to decide.

[VaBelle35]

My grandparents left each grandchild and great grandchild a nominal flat amount.  And it was worded for all grandchildren, now and in the future, so they didn't have to update it every time a child was born.

My mother did the same thing in her will for each of her grandchildren and great grandchildren, now and in the future.

I don't have children, so I have everything split between my siblings equally.  I didn't leave anything to my nieces and nephews, my brother and sister can decide what to do.  All my assets have to be liquidated.  I really don't want them to be arguing over who needs my house or my car at the time.  Liduidate and buy your own stuff with the money.

[Lipstickdiva]

I work for a law firm and a huge amount of our business is probate and estate planning.

The majority of clients leave their assets to their children.  If one or more of their children predecease them, the share is left to that child's children (decedent's grandchildren).  If the predeased child has no children, his/her share drops out and increases the share of the other adult children.

In very few instances is money left grandchildren, unless the will maker's child is already deceased.    

[Sooner]

Don't worry.  It usually goes to care for the elderly and some of yours usually goes along with it.  Be happy.  Don't worry.