Before You Die, Do Your Homework

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Posted

I assume it is similar in most other 1st world countries, that what is set out in the will, is contestable. Shunned sons have indicated the fight is on!   There is little doubt they will be fairly treated in the court irregardless of what my friend put in his will, that is just what happens, but the ones that win are the lawyers. So my point is gentlemen, make sure all the i's are dotted and t's crossed, to avoid feeding the legal pelicans.

 

Ahhhhhh! there lies the start of the problem, Assuming, problem being that the last country he lived in will be the Country that will stake the claim. Living in a Third world Country is where we can all make mistakes when this happens. For me I have never left anything in the UK that is not meant to be here, My Former Family have been looked after this way, Anything that is meant for my Family here is here for them and them alone. OH! yes it is easy to say in Hindsight. We have spoken about this times before but of course your Friend has passed away and only now things come to Light.

 Unfortunately I can only wish his Wife and Family good Luck on this as without a Will for here all may well be Administered from Aus and More Problems

 

Your Topic opener is indeed a jog for us to get our Act Together.

 Jack :unsure:

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Posted

 

So my point is gentlemen, make sure all the i's are dotted and t's crossed, to avoid feeding the legal pelicans.

Hello Mogo,

 

Outstanding topic and a timely reminder for all of us to take heed of this.  If I passed away tomorrow, Judy would not be prepared at all. Important documents, numbers to VA to report veteran death, etc, etc have yet to be discussed, as well as getting myself a term life insurance to at least pay for my funeral and party.  Yeah, Judy would be totally lost.

 

In a foreign country where family law could be foreign to us, would a copy of your will written in the local dialect, help matters?  Or like anything else there, jungle rules may apply here -- one judge will make a decision based on the highest bidder?

 

Thank you for the reminder Mogo, the first pitcher of MoJo is on me my friend.  Respectfully -- Jake  

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I worry about this from both ends. If I die now while living in the US, I fear that my ex will try to go after the money somehow (for the sake of the kids, of course). I thought that Janet would be in over her head, even though most of my assets are either in both our names, or have her listed as the beneficiary (401k and IRA). So what I have done for now is make my sister, who I trust completely, the executor of the will. She is tough as nails and hates my ex.

 

However, after we move to the Philippines, things will change. Some of the assets will be in the Philippines and in Janet's name (such as a house we might ultimately buy), but I will still have the retirement funds in an American company (with Janet as beneficiary). I suppose a visit to a lawyer will be in order.

 

There's a couple things that strike me as odd here. While I can't say this for sure, I am pretty confident that few if any of us on this forum are genuinely rich; I sure as hell am not. We have some money in retirement funds or maybe we have a piece of property or two or the money we made when we sold that property. But Donald Trump we ain't. All I want to do is make sure my wife is taken care of after I am gone. The amount I have can do that; but in the US the amount I have is chump change. I couldn't retire on it. And yet I know many families that have fought to the death over less.

 

I also don't get this leave the kids all your money attitude. When my mother died all her assets (probably not much) went to my father, as it should be. When he dies, I do not expect to see anything. If he has anything (and probably doesn't at his age) it should go to his partner. But kids now assume they should get it (and the ex assumes they should get it) and as the OP says can take it to court to try to get a bigger piece. My son will graduate and become an electrical engineer. He will make far more than I ever did. I intend to leave him some mementos and a small amount of cash. My wife should and will get most of it. Again, it's obvious that eventually I will have to pay a bunch to a lawyer for my piece of mind. And BTW, for those who say don't buy property in the Philippines, since she will own it, this might actually a good reason to have property - when you die she will own it.

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On the EX

 

A pretty Good Barrister (Trial Lawyer) told me once and I have found it to be True.

"Marriage, Changes Everything, Divorce Changes Nothing" Unless a Judge says Different.

Best of Luck to All with and EX waiting for the Pickings, 

We should have all made sure things were Finished before we Remarried. To me that's only fair for the New Wife and Family if you are Lucky to get Kids.

 

Maybe I am one of the Lucky Ones or maybe a Heard Hearted B.....d but I made very sure there can be no claims on Anything here.

 

Just Saying  :rolleyes:

 

Jack :thumbsup:

Morning All. :morning1:

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