Buddy Posted November 5, 2009 Posted November 5, 2009 (edited) Recently on another forum that I have a few friends on besides this one, one member just passed away and seems to have left his wife in a mess. He was in the middle of building a home for them and he ran out of money before he completed it, and while he seemed to have been quite generous with her and her family while he was alive, it now seems he did not set up his wife with access to his accounts or leave her any money to upkeep the home or property. While I do not wish in anyway to damage the memory or image of this fine gentleman, I do wish to use what he possibly did or did not do as a learning experience for other members to hopefully not make the same mistake as it appears he may have made. While I have posted something like this before, I want to expand on it now for the reasons stated.So all, how have you prepared for your family to survive once you are gone? No one likes to think about dying but anyone can die and at any age, so why not be prepared. No one has to list anything personal but maybe make some suggestions for others. I sure hope no one does to their lady and children what it appears this fellow may have ended up doing to his, and with no money and a home in a partial state, she may end up having to sell it for peanuts or worse, just lose it. Very sad. Here is what I did. My wife is on all my accounts, I trust her 100%, some accounts in the Philippines are actually in her name only and I have no say over them but I can bleed them dry with an ATM card should something God forbid happen to her before me, our condos are in both names and I have done my best to make sure that we have some money set aside in the Philippines if God forbid something were to happen to me while there or if either of us should God forbid get very sick while we are there. I also made sure that I am on the main accounts so I have access in case she were to God forbid get sick and need hospitalizing. While I am not rich, I try my best not to spend every penny of my pensions each month and have done that ever since I started getting them and I hope to be able to continue to do this until life becomes so expensive that I can no longer do so. Since my wife has 19 more years to go to get Social Security widows benefits, if they even have SS by then, I am going to make sure to live at least that long. Edited November 5, 2009 by Mr. Lee added content 1 Link to comment Share on other sites More sharing options...
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