If you died today would you die... INTESTATE?

[CDSmith]

INTESTATE -- From the Greek, literal translation is "Sans Testes" meaning without balls.

If you died suddenly, would you die without balls? The end of a useless meaningless existance... and ball-less?


:D



Okay enough GFY funny business. Really, what I'm asking you is... DO YOU HAVE A WILL?

Next to not having enough insurance (house/car/life/fire-theft-vandalism/flood/health etc), not having a will is one of the most foolish things people do. Suddenly dying and having no will all but invalidates your existance. Those of you of the "I'd be dead so I won't care anyway" mindset are probably either too young to be able to realize just how foolish having no will is, or you simply have nothing of value to leave to anyone. Those of us who have made money in this business and have aquired assets, houses, cars, boats, etc. know the imporance of not letting it all go to the government.

These days having a will done costs next to nothing. Doing it yourself via the latest software costs even less. So what's the excuse? Those of you who don't have one, how can you justify not having a living will?

I got mine done about 5 years ago, but am rather regretful that I waited until so late in my life to do it. (I was 42 at the time) These days I recommend anyone over the age of 18 should have one, and update it every so often. Those of you who have them, have you updated yours lately?

[seeandsee]

i think to make one

[cwd]

so many horror stories out there of people dying without one...I gotta get on that.

[L-Pink]

I plan on dying interstate.


.

[CurrentlySober]

Not necessarily the case if you live in the UK... But good advice none the less

[CaptainHowdy]

I don't own anything except myself...

[theking]

Hmm...CD...why are you concerned about my/others testes?

[CDSmith]

Originally Posted by L-Pink

I plan on dying interstate.


.

As in roadkill?

[CDSmith]

Originally Posted by CurrentlySober

Not necessarily the case if you live in the UK... But good advice none the less

Having a will is a good idea in any country, even the UK. It's not just about the gov't taking your estate in it's entirety, it's also about the allotment of your assets to those you care about who survive you, in accordance to your wishes. Having no will in the UK leaves the door wide open for causing family arguments, greed, in-fighting, etc. That's assuming of course one has anything worth fighting over. Hell, in some cases even having a will doesn't stop such arguments, but it's your best bet regardless.

Personally I would rather have people I actually care about get an inheritance from me than those in the family who don't deserve it, and every family has such undeserving members.

It's something tons of people keep putting off and putting off, some, unfortunately, until it's too late.

The time to get one is now.

[BigDeanEvans]

i think you actually have to own shit to have a will which pretty much eliminates most here.

[VGeorgie]

Originally Posted by CDSmith

INTESTATE -- From the Greek, literal translation is "Sans Testes" meaning without balls.

Well, no, it's from Latin, and is the same as the root word for testament, to stand witness.

That doesn't mean you shouldn't have a will if you have any value in your estate, but I just wanted to point out there are no balls involved.

Simple wills you can do online for about $100. We paid $750 for ours 20 years ago from an attorney. If you have lots of money you might consider a trust for your heirs. Passing them down gobs of money all at once is a sure-fire way to get them hooked on drugs and rock-and-roll. Make your trust payable starting at age 16 or 18 (or use a trustee to administer if they are younger), and extend to at least 25. Talk to an attorney before passing a house to your heirs. A trust is a good method, especially in California.

[Calico Jack]

I have a will...have had for many years, as does my wife.

[epitome]

Ugh, you just brought back horrible memories from the classes to get my real estate license.

We spent so much time covering property ownership, what happens when someone dies under different types of ownership, etc. and all I remember is that damn word!

[TrainWreckContent]

it really is a good idea to have one many people dont me included

[CurrentlySober]

Originally Posted by CDSmith

Having a will is a good idea in any country, even the UK. It's not just about the gov't taking your estate in it's entirety, it's also about the allotment of your assets to those you care about who survive you, in accordance to your wishes. Having no will in the UK leaves the door wide open for causing family arguments, greed, in-fighting, etc. That's assuming of course one has anything worth fighting over. Hell, in some cases even having a will doesn't stop such arguments, but it's your best bet regardless.

Personally I would rather have people I actually care about get an inheritance from me than those in the family who don't deserve it, and every family has such undeserving members.

It's something tons of people keep putting off and putting off, some, unfortunately, until it's too late.

The time to get one is now.

Well, I went in to see about making sure that everything goes to my son. My only flesh and blood relative. I have ZERO other family.

Under UK law, should I die without a will, everything goes to him, (automatically) as next of kin. Exactly what I want to happen.

Ergo, under UK law, in my position, I dont need a will.

[$5 submissions]

Not to worry, there's state INTESTACY LAWS that will split your shit up.

My advice: draft a will. Even a holographic one. You don't want the asshole relative you've been avoiding like HPV to get your shit, right?

[LoveSandra]

Originally Posted by CaptainHowdy

I don't own anything except myself...

[quiet]

i've had some form of a will for the past decade. i actually just updated it a month ago.

[Ross]

I have a will, I have life insurances, I have policies to cover my mortgages etc etc. My girlfriend and mum get it all. Then my mum gives my younger brother and some family a bit of what is left

[CDSmith]

Originally Posted by VGeorgie

Well, no, it's from Latin, and is the same as the root word for testament, to stand witness.

That doesn't mean you shouldn't have a will if you have any value in your estate, but I just wanted to point out there are no balls involved.

I'm sending out a search party to look for your lost sense of humor, but thanks for the clarification.

Originally Posted by VGeorgie

Simple wills you can do online for about $100. We paid $750 for ours 20 years ago from an attorney. If you have lots of money you might consider a trust for your heirs. Passing them down gobs of money all at once is a sure-fire way to get them hooked on drugs and rock-and-roll. Make your trust payable starting at age 16 or 18 (or use a trustee to administer if they are younger), and extend to at least 25. Talk to an attorney before passing a house to your heirs. A trust is a good method, especially in California.

All of that looks fine to me, and sound advice. Thanks for that as well.

[CDSmith]

Originally Posted by CurrentlySober

Well, I went in to see about making sure that everything goes to my son. My only flesh and blood relative. I have ZERO other family.

Under UK law, should I die without a will, everything goes to him, (automatically) as next of kin. Exactly what I want to happen.

Ergo, under UK law, in my position, I dont need a will.

Key part of your post: "In my position".

Your situation is special. A lot of other people have either a lot of family members or none at all, and have all sorts of business and personal relationships that may require consideration.

So for your own situation, yes, you're right. But it's not correct to say having a will isn't really a concern in the UK, because for a lot of people it very much is.

[fatfoo]

Intestate would apply to every woman.

Speaking of wills, I think that a person should actually spend more money in his/her life time than he/she made in lifetime and the person should actually die with $100,000s of liabilities instead of assets and absolutely no money left to anybody, but only taxes and fees for his relatives.

[will76]

If you want to take it a step further (which you should) if you have any amount of assets/kids etc.. you need to get with an estate planner. There are tons of things you can do to help protect your heirs. Unless you don't mind doing nothing and letting the IRS (US citizens) potentially take a huge chunk away before your kids / beneficiaries get the money you worked hard for, paid taxes on already, and wanted someone to have (NOT THE GOVT!)

[CDSmith]

Originally Posted by will76

If you want to take it a step further (which you should) if you have any amount of assets/kids etc.. you need to get with an estate planner. There are tons of things you can do to help protect your heirs. Unless you don't mind doing nothing and letting the IRS (US citizens) potentially take a huge chunk away before your kids / beneficiaries get the money you worked hard for, paid taxes on already, and wanted someone to have (NOT THE GOVT!)

Quoted for truth.