The WILL ... prevent the Ugly Shit ?

Fun .. Fun.... N O T !

Will .. something I've rarely thought about.  I did one back before I deployed to a war zone decades ago.  Never updated it. Never really needed to ...  I thought.  Probably still don't.  I'm in a simple situation.  If I don't wake up tomorrow, all goes to the wife.   If we both fail to wake up tomorrow, goes to my only child.  Simple as that.  Now, nothing is ever simple of course.  The 'system' kicks in and shit goes to Probate where things may delay a lil' bit and the state decides the obvious.  This can be important in some scenarios where there is a lot of debt that has to be paid before folks line up for what they believe is now 'theirs'.  But in my situation, not an issue.  However, there is one situation that could really put a spin on things.  What if ALL three of us are on a plane or in a vehicle and ... we all three .. fail to wake up?  Hmmmm... I'd never thought of that one until today.  And that scenario is going to force me to change up my will.  Siblings and Nephews and Nieces suddenly pop into the picture.  Even a parent potentially pops into the picture.  I'd never considered this one.  Always figured 'who cares' at that point.. but... I do care. We care.  And a standard Will isn't the only option or even the better option. This is where a Living Trust enters the picture.

What Is a Living Trust?  Well, a quick search explains it:  "A living trust is a legal entity that allows you to transfer your assets to a trustee, who thereafter manages those assets for the benefit of your beneficiaries. A living trust avoids probate and is easy to manage after you pass away. A way to protect assets, “transfer” assets, and distribute assets. Essentially, it does this by taking assets out of your name during life and putting them into the trustee’s name. Then, when you die, the person(s) you have appointed to be a trustee(s) take over control of those assets according to your wishes as stated in the trust document. There are two types of trusts: revocable or irrevocable. A revocable living trust is one that you can change or cancel at any time. An irrevocable living trust cannot be changed or canceled without the permission of the beneficiaries."  So, a revocable Living Trust is on my horizon.  One could argue it doesn't matter, but if my ass goes tomorrow, I don't want the state in my business; no probate for us.

What brings all this up?  Well we all have most likely seen family squabbles over 'who gets what?' when there is no Will in place.  I've heard of stories on my wife's side where rifts were created that were NEVER recovered from.   Heard of some stories on my own side from years ago that created huge rifts.  Sometimes even a Will doesn't address things and it falls upon the shoulders of the Executor of the Will, and what if they don't do 'the right thing?'   The law addresses this situation, but shit still happens.  I can't imagine some of what most go on in the world out there.  Hell every year more stories are printed about it all. More movies are made about it all.  Different scenario; what happens if that Will was never filed with the county and someone modifies it (illegal of course) ....  but Shit Happens!   Then .. how do you prove it?  How much do you spend to 'win?' And what are you actually 'winning' when the dust settles??  Was it worth the overall cost financially and mentally?

As of late, I've become aware of a situation that sort of makes my head and .... my heart ... hurt.  Emotions are in the mix on both sides.  Lies have been told.  Lawyer (a single one, on one of the sides) is in the mix.  I'm not sure that Lawyer is on the up and up; something just feels wrong with all I've seen and heard.  And in the big picture, not sure fighting things are worth it monetarily.   Sadly, I've said more than once on this one, the person whom passed could've / should've done this differently.   Had they filed the Will with the county, problems avoided.  Had they shared a copy of their will to heirs, problems solved.  Had they had a sit down with all potential heirs and explained their wishes, problems solved.   But, that's not what happened.  Now, you have children that are legally entitled to certain things by law, emotionally spun up.  Widow of deceased, whom has been married less than ten years, spun up and emotional.  A few assets out there that are questionable as to owner via will and the law.  All in all, not a good situation.   There is no positive outcome here in my own mind.  Well there is sort of one.   As I write this certain concessions have been made and it looks like all parties are moving forward.  Something still doesn't feel right to me, but some things aren't worth fighting.   Sadly, it didn't have to happen this way.

So, back to me. That above scenario got my brain cells moving along on the subject. Specifically, what happens if something happened to myself, wife AND daughter simultaneously?   I jokingly said " I don't care then " .. but ... I should .. and I actually do.  What about my sibling?  What about my wife's two siblings?  What about all our nephews and nieces?  Who would the Executor be?  Well..  I think I have that solution in mind.  Now, time to make it ... all legal.   I won't be out sharing copies of my will with a dozen folks... but I will have it all filed correctly and legally and will notify the Sibling that we are going to name as the Executor of the Estate. Besides, it'll be never be an issue.  My daughter is going to outlive my ass by decades and decades .. and .. DECADES!  Hopefully she'll follow this advice and ensure her future estate is thought out with proper Estate Planning as well.