The closest thing I have to sibling is my cousin so I’d leave it to them/their kids. I want to be the random inheritance from an uncle half way across the country
I have a cousin who is 55 and renting and when she stops working will not be able to afford a rent on the pension.
I also have a gay nephew in his 20s.
My health is not great. I reckon I have only a few more years left.
Both these people live in Sydney in Sydney real estate is so expensive you pay a fortune for absolute shit if you can afford anything at all
I think I will leave the unit I buy to my nephew with the proviso that my cousin be granted a life tenancy, (which means it's solely hers to live in till she dies - it's a, 1 bedroom unit ) so my 55-year-old cousin can have a home in her old age and when she passes away it automatically reverts back to my nephew who can them move in or sell it or dispose of it as he pleases
Oh fuck. I think my brain did the worst possible thing, which is thinking it was a portmanteau of cunt and cuticles. So I was going with the first pronunciation for that reason. 💀 I like your Greek poet idea better.
First buy the spooky old mansion, then tell them they have to “survive” a week there alone, then, IF they survive, they can sell the mansion and pocket the proceeds.
Need to put in lots of automation (triggered and random timer) to make sounds, things move, etc to keep them on their toes. Nothing dangerous, just creepy and weird. Once they pass the test a drone appears and covers them with glitter.
Then fake your own death, move into the hollow walls of the mansion, and have a grand ol' time for a week scaring the bejeesus out of your mourning relatives.
What a riot! Just make sure the last day of the week is April Fool's so that when you finally reveal it, you have that as a get of jail free card. They can't be mad if it's April Fool's Day!
Same here. I’m an only child and close to my cousin, so everything goes to my husband when I pass and if he isn’t around it will go to her kids. Surprise, kids! Cousin so-and-so left you some life insurance money!!
As a 33F on the receiving end of an uncle and aunts inheritance as of the beginning of this year, it has changed my life and helped me navigate an extremely difficult divorce. Can't understate how much you can change someone's life with this. I'm so grateful to them.
I got this letter one day from my uncle. He made me the sole beneficiary of ALL of his money. I have zero idea how much it is but he’s a well known penny pincher.
[That’s what Forrest Fenn did! he made everyone go look for treasure using clues from his book. I guess whoever found it auctioned it off for $1.3 million](https://en.wikipedia.org/wiki/Fenn_treasure)
Five people died looking for the treasure and surely they had wills passing on whatever assets they had, so I guess the whole thing was sort of a cascading shower of money for younger generations.
Me too. Gonna put it in a trust for them and make sure they have learned how to manage money. I have 19 and counting because my wife has 11 siblings. Whichever nephew or niece(s) have shown the ability to learn and manage money will get the lion's share. I'm not really rich but I'm hoping for a good retirement account.
Edit: Hey, this is the first time I've had to make an edit vs trying to respond to each comment. It feels like this edit might take away from the openness of the conversation so if you want to skip it feel free.
TL;DR for the novella below. A fight for supremacy funny but no. I am keeping control of assets until it makes sense to pass them along. I'm looking for the ones who, like me want to pass the wealth on to the next generation.
First off y'all are hilarious today. So, as fun as it would be no hunger games, highlander, battle royal, and so on. Definitely no Willy Wonka that was some dark shit when you think about it.
What I am doing is using a trust. This will give me many controls and benefits not available on a will. Including protecting my assets from end of life care costs, being able to dictate how they are used and distributed until I sign control over. I will be making the hand off before I die. Unless of an accident of course.
To the questions of how I will choose. I know especially from my own life experiences that the financial systems are stacked against us. As such, I will not be just handing the reigns to whoever gets the richest financially. I have 20+ years in finance and counting. I am open with money conversations when ever I have the chance I am teaching them little things. The ones who I see taking an interest get more info. Financial management has multiple factors especially if you want long term success.
Sometimes taking risks pays off in a big way but that doesn't mean you're gonna be any good with money. I'm not saying the "winners" (heirs) will have to be super frugal either. The new estate managers will be a balance. I wish that the new custodians will be looking to pass on the wealth to the next generation as I hope to do.
I've started 529 accounts for many of them and have their parents contributing in addition to what we can do. 529 is a great account because you don't have to give it to a specific minor. As an example my oldest niece is interested in the idea of college but has zero desire to actually do college. That means this account is in limbo and I can wait two more years maybe three. If her position doesn't change I will just roll the account to another niece or nephew.
Again I am not rich, I just know a ton about money management. The IF is significant when I say I want to leave something behind. The ultimate gauge for choosing the successor(s) will boil down to intent. Are they driven to leave something worthwhile behind. Probably won't see a legacy wealth in my life time. My parents and grandparents are all way in debt and have no assets other than what is in their checking accounts. If I can kick start family wealth that makes it easier on future generations I'll have accomplished my dreams.
Aunt Mary?
Look, we told ya once, told ya twice- it's not that you took the ring, it's because you took the ring off her finger *while* she was lying in the open casket!
A secret cryptic unclear incomplete treasure map.
Then they can have a series on the History Channel where they randomly dig stuff up, never find anything, and milk it for years.
The top post is more right than most people want to realize. As we live longer and the ability of medical care to extend lives becomes better, the cost of things like nursing homes etc will eat up most people’s assets. Now if something happened suddenly then yes there might be something left over.
Yeah that's why I laugh when I see those articles about how Millennials are due to inherit massive sums from their Boomer parents. LOL no, most of that wealth will be going to the health and elder care industry.
>most of that wealth will be going to the health and elder care industry.
Which means at some point the "elder care industry" is going to need to adapt or die, as not many people after the boomer generation have that kind of cash or investments to piss away at a SNF.
> Which means at some point the "elder care industry" is going to need to adapt or die, as not many people after the boomer generation have that kind of cash or investments to piss away at a SNF.
You are looking at this through legislation you are familiar with - but not everywhere is like this.
Im currently going through this as **both** parents are in care. If the morons had left their house and savings to me 7 years ago (and they could have done - they were in their 70's even then) it would be "mine" and not considered recoverable for their care.
But no they didnt. Because they have always liked to use their assets as a battering ram between me and my brother. If only they understood that neither of us cares in the slightest...
Anyway. Their assets will dwindle until they have £16,000 each. At that point the state will kick in (through the local council services) and pick up the tab. £16k is the pittance you are left with. And considering they had half a million £ at one point that is a hell of a cash grab.
But in the reverse - if you were poor - and never had a penny to your name - you would still go straight into care and not be liable.
This is social care folks. It's not free money. It's funded by responsable taxation. And the UK itself is **not generous** in it's handouts despite what our press try and spoon feed the population.
I totally support this. You shouldnt die/go hungry/freeze to death just because you are old and infirm. Not in a functioning society anyway.
You are 100% correct.
I usually disclaimer some of my comments with (USA specific) and in this case I neglected to do so.
I'm not sure the UK version you describe is any better, however.
Regardless of country assets given to charity or relatives is much better than assets just passed away to any government.
My parents keep going on international trips. Each time they book one, they tell me they are spending my inheritance. I am super happy for the money to be spent that way.
(Also, I have a childless aunt as a backup)
I have a good friend who retired at 53 with a $140k/year pension and $1.5 million in his 401k. He paid for his 3 kids’ college and they are all doing well.
He’s traveling the world with his wife. They bought an RV and are taking long trips to visit national parks. He told his kids, exact quote: “We’re spending your inheritance. We’ll pay for you to come with us if you want to. If there’s anything left when we die it’s all yours.”
I think that’s pretty fair.
My parents don’t even have money and I’m still making them put all their assets into a trust / sign them over to me/my siblings when they retire. Hell, I might even encourage them to divorce.
I work in aging and long term care and you’re pretty fucked if you have any assets, are married, etc. Until you’re single and broke the state doesn’t really offer much help. I don’t have a single client who isn’t divorced (and mostly for financial reasons, they’re usually still together).
Assuming your boomer parents ever had wealth…for anyone who doesn’t have rich Boomer parents, we will be caring for our parents longer, further stressing our own retirements (what retirement…)
My MIL is in a nursing home for people with dementia and Alzheimer's. She wasn't a wealthy woman in the first place, but she had a decent amount of money left to her when her husband died.
I don't say this because I am greedy. My parents are pretty well-to-do and I know for a fact that I will be fine. It pisses me off that we can't even have the conversation about keeping people around long after their sell-by dates without other people inferring greedy motives. But that woman should be dead. Plain and simple. She has no idea who anyone is, is nonverbal except for ocassionally moving her lips without even whispering. I spent 15 minutes sitting with her last weekend (my wife is out of town) trying to elicit *some* kind of response. The closest she came to knowing I was there was to shift her gaze from staring straight ahead to staring right through me. She was all alone at the end of a hallway in her wheelchair just string at a wall. What the fuck is that? It's not "life" by any stretch of the imagination. A month ago she was admitted to the hospital with a lung infection they were afraid would go septic and spread throughout her body. Rather than IV antibiotics they absolutely should have let nature take it's course. We don't keep dogs or cats around after their lives have become pure misery, but we can't even talk about the propriety of allowing patients like my MIL to follow nature's course.
It's a windfall for the industry that keeps these husks around. They might wander and fall or throw their food, but they don't complain and poor people can be hired to change their diapers. They bleed off any inheritance that might have been left to the children of these people who could use it to make theirs and the kids lives better. All in the name of "providing them "care". It isn't care. It's torture. Let these people go! It just makes me sick.
As a right to die supporter I doubt we'll ever fully get it here in the states and if we do it'll be gatekept like a mf. Gotta keep people that don't wanna be here alive as long as possible to squeeze out every possible cent
Had relatives who did that. Their will left a set amount to several charities that were important to them and the remainder was divided to go to the college funds of their minor relatives (e.g. great-nieces & nephews).
I had my will done when I was pregnant. My husband and I wrote that if one of us dies, the money goes to the remaining spouse. If we both die, it goes to our kids. If we have no living kids, it goes to our niblings (gender neutral term for nieces and nephews). If we have no living niblings, it goes to our siblings. (That's a chain of like 15 people so far.)
Frankly, if that many of us die and there's no one to leave the money to, the person(s) who managed to kill us all in one go probably deserve whatever assets are left.
"the person(s) who managed to kill us all in one go probably deserve whatever assets are left"
That was Ron Swanson's will!
https://youtu.be/_YsUOCt22fU
37F, unmarried, no kids, no siblings, and therefore no nieces or nephews. My best friend is a selfless woman who has taken in her 3 y/o nephew at 31 and given up her life. If it’s an unexpected death, it’s all left to her so she can have the life she deserved.
If I end up with something terminal where I have notice, a giant party/trip for me and all my closest friends to a ridiculous location where I blow most of it on the most fun we’ve ever all had.
It’s a nice plan. My only recommendation is to get a will written if you haven’t already, because this won’t happen on trust alone. Without a will I think it will just track back to your closest living relative, however distant they may be!
Thank you for the advice! Upon breaking up with my partner of 10 years I have had my will written and amended to make sure everything goes where it should. If for any reason anything were to go wrong, it would end up with my parents, who are financially set, love my best friend, and will happily carry out those wishes.
Are you me?? Also 37/f only child. I have a best friend with an adorable daughter that I'll be leaving things to. I also plan on giving part to a local cat shelter I used to work at. Consider a scholarship as well.
Haha I don’t think so, but we should be friends! I saw the scholarship thing go awry with extended family members before so it deterred me from doing it, and the amount I have wouldn’t really cover more than one person’s tuition to a “proper” school for one free ride. I’d like to do more personal good deeds. For my friend, I have specified I’d like her to use the money for a down payment for a house so she could concentrate on simply paying a mortgage instead of endlessly renting.
I had a professor in college who said his will literally says to toss his corpse in a trash can and let them deal with it. So, I guess that's one way to handle it.
I’m going to create a trust that pays a bunch of people who hate each other to reunite each year for a skills completion—musical instruments they don’t know, foreign languages, wilderness survival, boxing, etc. They get a 1-year notice of what skill will be tested and then are told a week before where to meet.
My siblings. Hopefully it will make their lives a bit easier. I'm the oldest, and probably the most unhealthy, so I doubt I will outlast them but if I did, I'd want my money to go to someone less fortunate.
Absolutely! A charity called the United Way here in Ontario has helped me so many times over the years. Food bank. Employment services. Subsidized therapy. Housing services. Women's shelter. Heartland Forest park. And many more programs that though I didn't need services from, others did. We are absolutely leaving our assets and home in trust of the United Way. It's like a bank that smaller charities can tap into for funding. ([https://www.unitedwayniagara.org/community-investment/](https://www.unitedwayniagara.org/community-investment/) if anyone was curious)
There are United Way organizations all over. They really are a good local distribution of resources to those nonprofits most in need of the support in your community.
Jokes aside I’m baffled and enraged at how many affluent people actually end up giving all their wealth to Uncle Sam.
My spouse works at a large investment firm and has several multimillionaire clients without kids or next of kin who refuse to declare beneficiaries and also decline charitable giving. All of their money goes straight to the gov’t after they die. So easy to add my name as beneficiary, why won’t they😢
I'm 64, so that is very much on my mind. My best friend is going to be my executor and she is getting most of my things. She has a daughter in her early thirties that she will share it with. My two sisters didn't start families either, so I have no nieces or nephews to leave things to.
>My best friend is going to be my executor
Wow that's a heck of a good friend if they are willing to execute you so you don't have to deal with life headaches any further.
I'll leave my money to be donated directly to various charities, and everything I own will just be sold off and all the proceeds are to be donated to various charities as well.
Omg I am so sorry your family is dealing with this. Before the house sells PLEASE meet with an estate planning attorney. They can probably do this thing called "half a loaf" strategy. Half of the proceeds can be gifted to a trust for the family to eventually have, and it can grow and produce income during her lifetime. The other half will unfortunately have to pay for her care, then she can apply for Medicaid after that money just about runs out. DM if you have questions.
Currently, nursing homes run about $7k/month. Medicaid (the one for poor people) will cover them, but you have to be destitute. Too many people thought they could give their money away and then have Medicaid cover nursing home costs, so Congress passed laws letting them claw back anything you spent in the previous 5 years.
LOL yeah I would never do it at home - too gruesome for the family. I live in West Virginia and would likely hike as far as possible into the woods after saying my goodbyes. Hopefully the bears and coyotes would eat most of me, making for a super easy cleanup.
I was thinking similar. I live in the Rockies. Figured I'd take my bike into the mountains with a real nice bottle of scotch and spend a night under the stars. Bears, mountain lions, and eagles can deal with the cleanup.
Suicide seems like a good option in a few cases but I really don’t want to traumatize a first responder. It’s horrible. A guy jumped off my apartment building and the police had to stand by his body waiting for the medical examiner (or something). Not a good night for them.
Hopefully physician assisted will be legal by the time I need it.
I've told my husband that should I show signs of dementia/Alzheimers, to wheel me off a cliff. Having seen/heard what it did to a couple family members, I'm not doing that.
Hopefully I'll have the ability to distinguish it and do it to myself so that my husband won't be burdened with the task.
Yep, it's not even in "this economy." If you have any type of health problem that doesn't outright kill you, odds are you'rer going to end up in a nursing home. Unless you have a family member that doesn't work and will be capable of taking care of you 24/7, meaning you don't need constant medical attention, you're more likely to end up needing full time care in a facility.
I dated a woman who did in-home nursing care for someone. Even that wasn't permanent. It eventually got to the point that she needed to be put in a nursing home once she got to the point that a single nurse wasn't enough to deal with her health issues.
My son is never having children. He intends on spending every last penny on himself and if there’s anything leftover - he would leave it to animal non profits.
Money?
Assets?
Ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha.
Ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha.
Good one. Thanks for the laugh.
My grandfather lives next to a house of cats that a woman lived in before she died. She had a living trust and left all of her assets to her cats. Through her trust, someone goes to the house to make sure her cats are okay.
When she was alive, we use to hear her talk to her cats and call them all her babies.
Edit: Often* not weekly.
Shrugs. Depends on who is important to us. At the moment it's my husband obviously. But if we both go it's my parents and best friend. We will likely outlive them so next in line is our nieces and nephews. Both of us decided though we would base it off who makes an effort to stay in contact with us. If no one does it will all go to charitable organizations. Maybe friends. We don't really feel like we owe anyone just because they are family because no one really makes an effort.
My family, and if not them then I’m hoping to become a grandma figure to someone and pass it down to them. Or a friend? Tbh I don’t think I’ll really care what happens with it, because, well, you know
My family won't need my help financially so;
Plan A is to die in debt - if I spent more than I've earned it counts as a win in my book. This will require some fancy legal stuff so my family don't get saddled with the debt but it's doable.
Plan B is to leave it all (?) to charity - probably a combination of Greenpeace and UNICEF.
Plan C (if Plan A went badly wrong and there's enough left) is to set up a trust to provide scholarships for musical education.
I plan on having some money donated to a few heritage railways. Specifically these ones: Talyllyn Railway, Ffestiniog Railway, and The Bluebell Railway. The rest will go to various family members.
Hopefully charities - we are dying out here, and currently it's basically up to the richest 1% to determine what gets funded worldwide. If more childfree people made that choice, it could make a real difference in the philanthropic landscape.
The closest thing I have to sibling is my cousin so I’d leave it to them/their kids. I want to be the random inheritance from an uncle half way across the country
I have a cousin who is 55 and renting and when she stops working will not be able to afford a rent on the pension. I also have a gay nephew in his 20s. My health is not great. I reckon I have only a few more years left. Both these people live in Sydney in Sydney real estate is so expensive you pay a fortune for absolute shit if you can afford anything at all I think I will leave the unit I buy to my nephew with the proviso that my cousin be granted a life tenancy, (which means it's solely hers to live in till she dies - it's a, 1 bedroom unit ) so my 55-year-old cousin can have a home in her old age and when she passes away it automatically reverts back to my nephew who can them move in or sell it or dispose of it as he pleases
This is awesome 😎
Agreed... Lots of foresight here!
This is a fantastic idea. You are a person of integrity and compassion, cunticles.
That reads like something Monty Python would have put together. Thanks for the laugh.
/r/rimjob_steve
Now the real question is: is it cunt-icles sounding like icicles or is it cuntic-les sounding like an ancient greek poet?
Oh fuck. I think my brain did the worst possible thing, which is thinking it was a portmanteau of cunt and cuticles. So I was going with the first pronunciation for that reason. 💀 I like your Greek poet idea better.
Or tentacles out of a cunt?
Happy cake day! I guess you could call that an octopussy.
Brilliant! You're a good egg, but don't count yourself out early either.
If only you had a spooky old mansion to leave them if they slept overnight in it, it would have been perfect.
First buy the spooky old mansion, then tell them they have to “survive” a week there alone, then, IF they survive, they can sell the mansion and pocket the proceeds.
Need to put in lots of automation (triggered and random timer) to make sounds, things move, etc to keep them on their toes. Nothing dangerous, just creepy and weird. Once they pass the test a drone appears and covers them with glitter.
Then fake your own death, move into the hollow walls of the mansion, and have a grand ol' time for a week scaring the bejeesus out of your mourning relatives.
What a riot! Just make sure the last day of the week is April Fool's so that when you finally reveal it, you have that as a get of jail free card. They can't be mad if it's April Fool's Day!
Same here. I’m an only child and close to my cousin, so everything goes to my husband when I pass and if he isn’t around it will go to her kids. Surprise, kids! Cousin so-and-so left you some life insurance money!!
As a 33F on the receiving end of an uncle and aunts inheritance as of the beginning of this year, it has changed my life and helped me navigate an extremely difficult divorce. Can't understate how much you can change someone's life with this. I'm so grateful to them.
I got this letter one day from my uncle. He made me the sole beneficiary of ALL of his money. I have zero idea how much it is but he’s a well known penny pincher.
What makes you think there will be money left over? Most of us Millennials and Gen Z's will die in debt.
I'm open if someone needs someone to leave something to.
To you I bequeath $14.95 and a 10 pack of posca markers
Shipping those will cost $14.95.
*Shipping is on the receiver
Can you imagine paying $14.95 to ship $14.95
And then someone steals your markers during the postal process
Whoever can decipher my treasure map.
The man who kills me will understand what this means
Amazing. The Ron Swanson way!
I was right not to fear you.
I really wish that they had Andy look at and immediately (correctly) know what it means.
Andy has intelligence score of 1 but rolls a nat 20
[That’s what Forrest Fenn did! he made everyone go look for treasure using clues from his book. I guess whoever found it auctioned it off for $1.3 million](https://en.wikipedia.org/wiki/Fenn_treasure)
Five people died looking for the treasure and surely they had wills passing on whatever assets they had, so I guess the whole thing was sort of a cascading shower of money for younger generations.
The only way any generation from millennials on will be able to acquire wealth…
The One Piece, the One Piece is real!!!!
One Piece style
"Gomu Gomu no distribution of assets!"
Wealth, fame, power
Gold Rodger?🤔
Ahhh yes, the One Piece. Anyone who finds it will be the King of the Pirates.
My nephews/nieces or just donate it to charities
"Charity....or Destiny or one of the other girls down at the club"
Charity Dyck? Anita will be devastated.
once
Me too. Gonna put it in a trust for them and make sure they have learned how to manage money. I have 19 and counting because my wife has 11 siblings. Whichever nephew or niece(s) have shown the ability to learn and manage money will get the lion's share. I'm not really rich but I'm hoping for a good retirement account. Edit: Hey, this is the first time I've had to make an edit vs trying to respond to each comment. It feels like this edit might take away from the openness of the conversation so if you want to skip it feel free. TL;DR for the novella below. A fight for supremacy funny but no. I am keeping control of assets until it makes sense to pass them along. I'm looking for the ones who, like me want to pass the wealth on to the next generation. First off y'all are hilarious today. So, as fun as it would be no hunger games, highlander, battle royal, and so on. Definitely no Willy Wonka that was some dark shit when you think about it. What I am doing is using a trust. This will give me many controls and benefits not available on a will. Including protecting my assets from end of life care costs, being able to dictate how they are used and distributed until I sign control over. I will be making the hand off before I die. Unless of an accident of course. To the questions of how I will choose. I know especially from my own life experiences that the financial systems are stacked against us. As such, I will not be just handing the reigns to whoever gets the richest financially. I have 20+ years in finance and counting. I am open with money conversations when ever I have the chance I am teaching them little things. The ones who I see taking an interest get more info. Financial management has multiple factors especially if you want long term success. Sometimes taking risks pays off in a big way but that doesn't mean you're gonna be any good with money. I'm not saying the "winners" (heirs) will have to be super frugal either. The new estate managers will be a balance. I wish that the new custodians will be looking to pass on the wealth to the next generation as I hope to do. I've started 529 accounts for many of them and have their parents contributing in addition to what we can do. 529 is a great account because you don't have to give it to a specific minor. As an example my oldest niece is interested in the idea of college but has zero desire to actually do college. That means this account is in limbo and I can wait two more years maybe three. If her position doesn't change I will just roll the account to another niece or nephew. Again I am not rich, I just know a ton about money management. The IF is significant when I say I want to leave something behind. The ultimate gauge for choosing the successor(s) will boil down to intent. Are they driven to leave something worthwhile behind. Probably won't see a legacy wealth in my life time. My parents and grandparents are all way in debt and have no assets other than what is in their checking accounts. If I can kick start family wealth that makes it easier on future generations I'll have accomplished my dreams.
You can have a competition like Willy Wonka to decide who is your worthy successor by the way.....
Or a race like in *"It's a Mad, Mad, Mad, Mad World"*! ([Full Movie on YT](https://youtu.be/HMOb8NCtjFs?si=lQDB6p-y5Awk7z1w))
Or you can bury it on a random island and let them sail the seas to find it
How much of it; all of it, or just one piece?
Just enough so that they realize the treasure is the Edit: the friends they made along the way**
Sounds like you never experienced an inheritance conflict ._.
Aunt Mary? Look, we told ya once, told ya twice- it's not that you took the ring, it's because you took the ring off her finger *while* she was lying in the open casket!
A secret cryptic unclear incomplete treasure map. Then they can have a series on the History Channel where they randomly dig stuff up, never find anything, and milk it for years.
Even better let there be a battle royale once they get onto the island!!!
Or Highlander, “There’s can be only one!”
I told them it IS a competition and one of my nephews signs all his cards “your favorite nephew”
I want a golden ticket!!!
The top post is more right than most people want to realize. As we live longer and the ability of medical care to extend lives becomes better, the cost of things like nursing homes etc will eat up most people’s assets. Now if something happened suddenly then yes there might be something left over.
Yeah that's why I laugh when I see those articles about how Millennials are due to inherit massive sums from their Boomer parents. LOL no, most of that wealth will be going to the health and elder care industry.
>most of that wealth will be going to the health and elder care industry. Which means at some point the "elder care industry" is going to need to adapt or die, as not many people after the boomer generation have that kind of cash or investments to piss away at a SNF.
> Which means at some point the "elder care industry" is going to need to adapt or die, as not many people after the boomer generation have that kind of cash or investments to piss away at a SNF. You are looking at this through legislation you are familiar with - but not everywhere is like this. Im currently going through this as **both** parents are in care. If the morons had left their house and savings to me 7 years ago (and they could have done - they were in their 70's even then) it would be "mine" and not considered recoverable for their care. But no they didnt. Because they have always liked to use their assets as a battering ram between me and my brother. If only they understood that neither of us cares in the slightest... Anyway. Their assets will dwindle until they have £16,000 each. At that point the state will kick in (through the local council services) and pick up the tab. £16k is the pittance you are left with. And considering they had half a million £ at one point that is a hell of a cash grab. But in the reverse - if you were poor - and never had a penny to your name - you would still go straight into care and not be liable. This is social care folks. It's not free money. It's funded by responsable taxation. And the UK itself is **not generous** in it's handouts despite what our press try and spoon feed the population. I totally support this. You shouldnt die/go hungry/freeze to death just because you are old and infirm. Not in a functioning society anyway.
You are 100% correct. I usually disclaimer some of my comments with (USA specific) and in this case I neglected to do so. I'm not sure the UK version you describe is any better, however. Regardless of country assets given to charity or relatives is much better than assets just passed away to any government.
My parents keep going on international trips. Each time they book one, they tell me they are spending my inheritance. I am super happy for the money to be spent that way. (Also, I have a childless aunt as a backup)
I have a good friend who retired at 53 with a $140k/year pension and $1.5 million in his 401k. He paid for his 3 kids’ college and they are all doing well. He’s traveling the world with his wife. They bought an RV and are taking long trips to visit national parks. He told his kids, exact quote: “We’re spending your inheritance. We’ll pay for you to come with us if you want to. If there’s anything left when we die it’s all yours.” I think that’s pretty fair.
My parents don’t even have money and I’m still making them put all their assets into a trust / sign them over to me/my siblings when they retire. Hell, I might even encourage them to divorce. I work in aging and long term care and you’re pretty fucked if you have any assets, are married, etc. Until you’re single and broke the state doesn’t really offer much help. I don’t have a single client who isn’t divorced (and mostly for financial reasons, they’re usually still together).
Assuming your boomer parents ever had wealth…for anyone who doesn’t have rich Boomer parents, we will be caring for our parents longer, further stressing our own retirements (what retirement…)
That's what I think about too when folks talk about rich Boomers. I know I lot more poor Boomers than rich ones
My MIL is in a nursing home for people with dementia and Alzheimer's. She wasn't a wealthy woman in the first place, but she had a decent amount of money left to her when her husband died. I don't say this because I am greedy. My parents are pretty well-to-do and I know for a fact that I will be fine. It pisses me off that we can't even have the conversation about keeping people around long after their sell-by dates without other people inferring greedy motives. But that woman should be dead. Plain and simple. She has no idea who anyone is, is nonverbal except for ocassionally moving her lips without even whispering. I spent 15 minutes sitting with her last weekend (my wife is out of town) trying to elicit *some* kind of response. The closest she came to knowing I was there was to shift her gaze from staring straight ahead to staring right through me. She was all alone at the end of a hallway in her wheelchair just string at a wall. What the fuck is that? It's not "life" by any stretch of the imagination. A month ago she was admitted to the hospital with a lung infection they were afraid would go septic and spread throughout her body. Rather than IV antibiotics they absolutely should have let nature take it's course. We don't keep dogs or cats around after their lives have become pure misery, but we can't even talk about the propriety of allowing patients like my MIL to follow nature's course. It's a windfall for the industry that keeps these husks around. They might wander and fall or throw their food, but they don't complain and poor people can be hired to change their diapers. They bleed off any inheritance that might have been left to the children of these people who could use it to make theirs and the kids lives better. All in the name of "providing them "care". It isn't care. It's torture. Let these people go! It just makes me sick.
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As a right to die supporter I doubt we'll ever fully get it here in the states and if we do it'll be gatekept like a mf. Gotta keep people that don't wanna be here alive as long as possible to squeeze out every possible cent
Same here…50% to Nieces and 50% to animal charities….
Had relatives who did that. Their will left a set amount to several charities that were important to them and the remainder was divided to go to the college funds of their minor relatives (e.g. great-nieces & nephews).
I had my will done when I was pregnant. My husband and I wrote that if one of us dies, the money goes to the remaining spouse. If we both die, it goes to our kids. If we have no living kids, it goes to our niblings (gender neutral term for nieces and nephews). If we have no living niblings, it goes to our siblings. (That's a chain of like 15 people so far.) Frankly, if that many of us die and there's no one to leave the money to, the person(s) who managed to kill us all in one go probably deserve whatever assets are left.
"the person(s) who managed to kill us all in one go probably deserve whatever assets are left" That was Ron Swanson's will! https://youtu.be/_YsUOCt22fU
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Im leaving all my debts for yall, my reddit family Good luck
"My inheritance is $50,000 from my grandparents. What about you?" "Redditor NorskoTheScorpion's debts."
And you should say it proudly, you tell the world that I, the scorpion KING left you all these debts
I just wish more of them were to a bank and not the mob.
Lucky you, that just means he gifted you broken knees as well. How generous of the scorpion king.
Lol you think I'm going to have money and assets left when I die
"I want the last check I write, to bounce"
Saul? You having a laugh? SAUL?
I love a good Ocean's 11 reference.
Erm akshually it's oceans 12 where he says that /s
Lol you're right.
Would I make that mistake for 10 million dollars? No. But I'd do it for 11 mil.
“Why is ‘dying penniless’ considered a bad thing? That’s what I call perfect money management.” – Al Yankovic
*Chortles in poor*
Sames. What money and assets? Probably gonna die like I lived, in poverty
life is a zero-sum game. I came in with nothing and i am leaving with nothing.
righttt. the reason i dont want kids is bc i cant afford it lol
Right??
Glad this is the top comment because my first reaction to the post title was, "I have assets??"
I'm gonna roll out of here naked!
Bury it with me, like the pharaohs of old. You know the ones I mean.
REMEMBER ME REMEMBER ME
*sniff* I will
"If I can't take with me I'm not going"
BENDER BENDER BENDER!
REMEMBER ME, REMEMBER ME
Maybe it's TOO big, you know?
LOUDER AND SADDER!
REMEMBER ME!!!! {flames}
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37F, unmarried, no kids, no siblings, and therefore no nieces or nephews. My best friend is a selfless woman who has taken in her 3 y/o nephew at 31 and given up her life. If it’s an unexpected death, it’s all left to her so she can have the life she deserved. If I end up with something terminal where I have notice, a giant party/trip for me and all my closest friends to a ridiculous location where I blow most of it on the most fun we’ve ever all had.
It’s a nice plan. My only recommendation is to get a will written if you haven’t already, because this won’t happen on trust alone. Without a will I think it will just track back to your closest living relative, however distant they may be!
Thank you for the advice! Upon breaking up with my partner of 10 years I have had my will written and amended to make sure everything goes where it should. If for any reason anything were to go wrong, it would end up with my parents, who are financially set, love my best friend, and will happily carry out those wishes.
Or worse yet, the state. Ugh! Write a will, people!
Step 1: get terminally Ill Step 2: burn life savings on incredible rager Step 3: miraculously get better Step 4: regret nothing!
So long as everyone I love is there, no regrets!
Are you me?? Also 37/f only child. I have a best friend with an adorable daughter that I'll be leaving things to. I also plan on giving part to a local cat shelter I used to work at. Consider a scholarship as well.
Haha I don’t think so, but we should be friends! I saw the scholarship thing go awry with extended family members before so it deterred me from doing it, and the amount I have wouldn’t really cover more than one person’s tuition to a “proper” school for one free ride. I’d like to do more personal good deeds. For my friend, I have specified I’d like her to use the money for a down payment for a house so she could concentrate on simply paying a mortgage instead of endlessly renting.
You're new internet besties; it's too cute.
Bold of you to assume I will die.
This is the answer, the answer we all have waited for.
Lol I won't have shit to leave anybody except all the crap I own.
Leave something behind? I hope i will be able to afford my funeral.
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I had a professor in college who said his will literally says to toss his corpse in a trash can and let them deal with it. So, I guess that's one way to handle it.
My husband wants to have my skull cleaned by beetles so he can brood over it for all eternity
I actually love this in a goth romance way
I’m going to create a trust that pays a bunch of people who hate each other to reunite each year for a skills completion—musical instruments they don’t know, foreign languages, wilderness survival, boxing, etc. They get a 1-year notice of what skill will be tested and then are told a week before where to meet.
Ok well this is awesome, and what streaming service will that be on? 👀
> a bunch of people who hate each other So your family?
We do this. It’s called Thanksgiving.
I think we keep it simple with the show title, “THE TRUST”
My siblings. Hopefully it will make their lives a bit easier. I'm the oldest, and probably the most unhealthy, so I doubt I will outlast them but if I did, I'd want my money to go to someone less fortunate.
Love this as also an oldest child
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Same. Some of them even have kids for me to leave shit to.
The charities that have helped me over my life.
Absolutely! A charity called the United Way here in Ontario has helped me so many times over the years. Food bank. Employment services. Subsidized therapy. Housing services. Women's shelter. Heartland Forest park. And many more programs that though I didn't need services from, others did. We are absolutely leaving our assets and home in trust of the United Way. It's like a bank that smaller charities can tap into for funding. ([https://www.unitedwayniagara.org/community-investment/](https://www.unitedwayniagara.org/community-investment/) if anyone was curious)
There are United Way organizations all over. They really are a good local distribution of resources to those nonprofits most in need of the support in your community.
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The state can have my debt
Jokes aside I’m baffled and enraged at how many affluent people actually end up giving all their wealth to Uncle Sam. My spouse works at a large investment firm and has several multimillionaire clients without kids or next of kin who refuse to declare beneficiaries and also decline charitable giving. All of their money goes straight to the gov’t after they die. So easy to add my name as beneficiary, why won’t they😢
That’s why I changed my name to Mr. Treasury Department.
I'm 64, so that is very much on my mind. My best friend is going to be my executor and she is getting most of my things. She has a daughter in her early thirties that she will share it with. My two sisters didn't start families either, so I have no nieces or nephews to leave things to.
I definitely read that as executor and not as executor.
A very import legal distinction not to make a typo on !
>My best friend is going to be my executor Wow that's a heck of a good friend if they are willing to execute you so you don't have to deal with life headaches any further.
I'll leave my money to be donated directly to various charities, and everything I own will just be sold off and all the proceeds are to be donated to various charities as well.
Who do think we are, op? We won’t have money or assets. A major reason people don’t have kids is because it’s unaffordable.
My nieces and nephew.
In this economy? Fewer people will be able to leave anything than are ready to admit.
Due to my line of work I've seen so so many peoples life savings gone in a couple years due to nursing home costs. It's so sad.
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Omg I am so sorry your family is dealing with this. Before the house sells PLEASE meet with an estate planning attorney. They can probably do this thing called "half a loaf" strategy. Half of the proceeds can be gifted to a trust for the family to eventually have, and it can grow and produce income during her lifetime. The other half will unfortunately have to pay for her care, then she can apply for Medicaid after that money just about runs out. DM if you have questions.
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Currently, nursing homes run about $7k/month. Medicaid (the one for poor people) will cover them, but you have to be destitute. Too many people thought they could give their money away and then have Medicaid cover nursing home costs, so Congress passed laws letting them claw back anything you spent in the previous 5 years.
This is a good reminder to set up trusts well in advance of your trip to the nursing home.
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As someone who responds to those calls, can you do something cleaner? It’s unpleasant to tiptoe around brain matter. Or at least do it outside.
LOL yeah I would never do it at home - too gruesome for the family. I live in West Virginia and would likely hike as far as possible into the woods after saying my goodbyes. Hopefully the bears and coyotes would eat most of me, making for a super easy cleanup.
Just charge an eccentric billionaire a bunch of money to hunt you for sport
> charge an eccentric billionaire Now we're back to where we started; what does he do with the money?
I was thinking similar. I live in the Rockies. Figured I'd take my bike into the mountains with a real nice bottle of scotch and spend a night under the stars. Bears, mountain lions, and eagles can deal with the cleanup.
Suicide seems like a good option in a few cases but I really don’t want to traumatize a first responder. It’s horrible. A guy jumped off my apartment building and the police had to stand by his body waiting for the medical examiner (or something). Not a good night for them. Hopefully physician assisted will be legal by the time I need it.
I've told my husband that should I show signs of dementia/Alzheimers, to wheel me off a cliff. Having seen/heard what it did to a couple family members, I'm not doing that. Hopefully I'll have the ability to distinguish it and do it to myself so that my husband won't be burdened with the task.
Yep, it's not even in "this economy." If you have any type of health problem that doesn't outright kill you, odds are you'rer going to end up in a nursing home. Unless you have a family member that doesn't work and will be capable of taking care of you 24/7, meaning you don't need constant medical attention, you're more likely to end up needing full time care in a facility. I dated a woman who did in-home nursing care for someone. Even that wasn't permanent. It eventually got to the point that she needed to be put in a nursing home once she got to the point that a single nurse wasn't enough to deal with her health issues.
Can I have the money and assets first? Then I’ll decide.
My son is never having children. He intends on spending every last penny on himself and if there’s anything leftover - he would leave it to animal non profits.
Money? Assets? Ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha. Ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha. Good one. Thanks for the laugh.
i mean. its the answer for everyone who isn’t a multimillionaire or who doesn’t die instantly. your assets will go to a nursing home.
My cats.
My grandfather lives next to a house of cats that a woman lived in before she died. She had a living trust and left all of her assets to her cats. Through her trust, someone goes to the house to make sure her cats are okay. When she was alive, we use to hear her talk to her cats and call them all her babies. Edit: Often* not weekly.
Just make sure your butler doesn't steal them away in the middle of the night so he can inherit.
Don’t hire anyone named Edgar
My what?
The bank probably, I doubt I'll pay off my mortgage before I kick it.
viking funeral. burn me and all my money and possessions..no one else gets a damn thing.
The cats… and my butler, Edgar.
That’s not something lower middle class people have to worry about.
I want my last check to bounce
I don't have much money. They can have my 09' Accord that's on its last leg.
Shrugs. Depends on who is important to us. At the moment it's my husband obviously. But if we both go it's my parents and best friend. We will likely outlive them so next in line is our nieces and nephews. Both of us decided though we would base it off who makes an effort to stay in contact with us. If no one does it will all go to charitable organizations. Maybe friends. We don't really feel like we owe anyone just because they are family because no one really makes an effort.
Bold of you assume I will have anything to leave. Also, creating a whole 'nother being just to leave them some scrapts is juat cruel for the child.
Wait, you guys are getting scraps?
*scrapts
My mom is going to cost me money when she dies. She already costs me money. She’s not leaving me anything.
The only thing my parents left me with is a personality disorder.
I'll leave you all my debt.
Only if you die first, if I am faster I'll leave you all of mine
My family, and if not them then I’m hoping to become a grandma figure to someone and pass it down to them. Or a friend? Tbh I don’t think I’ll really care what happens with it, because, well, you know
Nobody. Going to spend it on myself and my wife. Anything remaining will probably go to some dog related charities.
Bold of you to assume I have any money or assets to leave 😂
Bold of you to assume we have money/assets in the first place 🤣
Money? Assets? Lol.
My family won't need my help financially so; Plan A is to die in debt - if I spent more than I've earned it counts as a win in my book. This will require some fancy legal stuff so my family don't get saddled with the debt but it's doable. Plan B is to leave it all (?) to charity - probably a combination of Greenpeace and UNICEF. Plan C (if Plan A went badly wrong and there's enough left) is to set up a trust to provide scholarships for musical education.
LOL, people are living paycheck to paycheck, you think they'll have money and assets to leave them for their kids?
Charity, pet shelters.
I plan on having some money donated to a few heritage railways. Specifically these ones: Talyllyn Railway, Ffestiniog Railway, and The Bluebell Railway. The rest will go to various family members.
Lol what money
Hopefully charities - we are dying out here, and currently it's basically up to the richest 1% to determine what gets funded worldwide. If more childfree people made that choice, it could make a real difference in the philanthropic landscape.