Who gets what?

Discussion in 'Teacher Time Out' started by Hoot Owl, Nov 12, 2009.

  1. Hoot Owl

    Hoot Owl Aficionado

    Joined:
    Jan 15, 2008
    Messages:
    3,888
    Likes Received:
    0

    Nov 12, 2009

    I'm the executor of my parent's estate, which I'm not looking forward to. I'm one of six kids so it will be complicated. They have the families estate in a co-op which may make things difficult. Recently my mother gave me her mother's ring, wedding band, which I regard as the most valuable gift in the world. Her mother died when she was only 7 years old and she was one of five children. I really feel blessed that she chose me to have her mother's wedding bend.

    My DH and I went to a lawyer several years ago and established a trust for our two kids which is separate from their spouses. It protects their inheritance from bankrupts.

    Have you done anything to prepare for your final days and who gets what when your parents pass away?
     
  2.  
  3. Tasha

    Tasha Phenom

    Joined:
    Feb 28, 2007
    Messages:
    4,391
    Likes Received:
    5

    Nov 12, 2009

    My brother is rather immature (26) so my parents have asked for things to be split evenly but for his portion to be put into a trust that I will oversee. However, my grandparents estate will likely be a big mess. They are just not very close to their son and older daughter and their families (due to some extreme circumstances) as they are to my mom and our family. They see or talk to their other children rarely and we talk to them several times a week and see them all the time. They also asked me to execute their estates and I am not sure how my mom will feel about that.
     
  4. bonneb

    bonneb Fanatic

    Joined:
    Aug 26, 2006
    Messages:
    2,518
    Likes Received:
    9

    Nov 12, 2009

    Our parents' estate was divided equally between the 3 living siblings, 2 grandchildren of the deceased siblings, and an aunt. Everything was divided exactly equally - we couldn't even have a pair of earrings as a memento, it all had to be sold (we could have bought it) and divided.
     
  5. Blue

    Blue Aficionado

    Joined:
    Nov 16, 2005
    Messages:
    3,591
    Likes Received:
    3

    Nov 12, 2009

    I am an only child. And, I have POA right now. We consulted an attorney, so it should go smoothly.
     
  6. mrachelle87

    mrachelle87 Fanatic

    Joined:
    Aug 30, 2006
    Messages:
    2,813
    Likes Received:
    52

    Nov 12, 2009

    My grandma's estate was divided between all the brothers and sisters. The day of my Grandmother's funeral, my aunts got together and went and got the quilt that my great grandmother made. They brought it out after the funeral and gave it to me. At the last family reunion my Grandmother had said that she wanted me to have it. My aunts took it out of the house before my uncle's b**** wife got her hands on it. A family friend was in charge of my grandmother's estate. He told my mother's oldest sister he was going on a walk and that I looked cold. To get me a blanket. Since that was what I wanted, I didn't ask for anything else from my Grandmother's home.
     
  7. Jem

    Jem Aficionado

    Joined:
    May 7, 2008
    Messages:
    3,544
    Likes Received:
    0

    Nov 12, 2009

    My grandparents' estate went really smoothly-there were five kids including my mother, and they did a round robin thing when splitting up the house. We all went up one weekend, and each child drew a number. My uncle R got #1, so he got to pick something he wanted first. Then whoever got #2 went, etc. Then when everyone had their first choice, Uncle R started again. This went on until everyone had taken everything they wanted. I remember being really sad that Uncle R picked the apple dishes, but now that I've moved 3 times, I thank my lucky stars my mom didn't grab them for me!! ;)

    My parents just have my brother and I. The only thing I want is my great-aunt Dora's engagement ring, which is in the safe. I'm sure the bro will let me have it-he can have anything else he wants. We'll just sell everything else and split the money. My family tends to be pack rats, but we don't have a particular attachment to the stuff-my mom has a HUGE house full of antiques she's collected, but that's not my style at all, so off to auction they go.
     
  8. Hoot Owl

    Hoot Owl Aficionado

    Joined:
    Jan 15, 2008
    Messages:
    3,888
    Likes Received:
    0

    Nov 13, 2009

    I like the round robin idea. My sister suggested a couple of years ago that we "buy" what we wanted out of the house and then split the kitty among us all. Well, duh, she's & DH are loaded and can buy everything.

    I'm just dreading the day they're both gone. There's nothing in any house that could replace either of them.
     
  9. Dzenna

    Dzenna Groupie

    Joined:
    Jul 15, 2006
    Messages:
    1,210
    Likes Received:
    0

    Nov 13, 2009

    Oh, I dread this day and its coming soon. MIL is 91. DH is the executor and 2 of his brothers are very selfish. I've heard of families that have EVERYTHING appraised and everyone gets an equal amount. At this point, all we want is to get out of the situation with minimal fighting. When FIL was alive he gave us some photos which are invaluable. The other stuff doesn't matter much.
     
  10. Kindergarten31

    Kindergarten31 Cohort

    Joined:
    Jul 31, 2007
    Messages:
    500
    Likes Received:
    0

    Nov 13, 2009

    I have heard so many horror stories about greed and bitterness--makes me glad I am an only child!
     
  11. bros

    bros Phenom

    Joined:
    Aug 5, 2009
    Messages:
    4,105
    Likes Received:
    68

    Nov 13, 2009

    My aunt has her twin brother as the executor of her estate. Her husband is probably going to go first (he's 15 years older than her) so my aunt will get all of his money, and in her will, her houses are to be sold and then the money gained from the sales of stocks/houses + money in the banks are to be distributed evenly through her siblings/her nieces (Except her twin, who gets 15% of the estate, I believe, so 4 of them) and nephews (8 nieces and nephews)
     
  12. Ms. I

    Ms. I Maven

    Joined:
    May 13, 2004
    Messages:
    5,823
    Likes Received:
    139

    Nov 14, 2009

    I'm an only child & my parents have a living trust in order where I'm the sole beneficiary.
     

Share This Page

Members Online Now

  1. stephenpe,
  2. MrsC
Total: 427 (members: 4, guests: 408, robots: 15)
test