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The Dead Thread 2024

St. Clown said:
My wife works for an estate planning attorney. He strongly suggests creating a family trust and set it as the owner of your home, financial accounts, and other investments. Set you and your spouse are the executors, and primary beneficiaries, and children, or whoever you want, as secondaries. Probate ist sehr teuer.
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Is this similar to what I wrote?
 
Russell Jaslow said:
One thing I will say about this last part is something our lawyer told us. We have the overall estate settlement going to the various beneficiaries (note, we have no kids) set in the will. Therefore, all of our accounts are set as follows:

First beneficiary -- each other.
Second beneficiary -- "our estate" (there's special wording you have to use, which I don't remember right now).

This prevents any contradiction between the will and any individual account. Of course, this means the will has be rock solid in how you want the money distributed. Ours is simple (two large fixed, listed amounts to two different charities, the rest split in half, with one half evenly distributed between our suriviving siblings (and they are listed out by full name) and the other half evenly distributed between our surviving direct (not married into) nieces/nephews (and they are listed out by full name). Simple, but rock solid.

I'm posting this in case it helps anyone.
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It does help, thank you. Dr. Mrs. and I are setting this up right now. Is there a difference in naming "our trust" vs "our estate"?

We have a simple single inheritance tree after being each other's backup so we should avoid probate.

h <--> w, then
if x living 100% else
if y living 100% else
if z living 100% else
fuck it, give it to Médecins Sans Frontières

Especially important for us because x is w's only child, and h is not x's birth parent, and h's siblings are cut out entirely, so we needed to bulletproof it.
 
As someone who didnt get into the dead until a few years ago...that one stings. My dad was a Deadhead...his brother followed them around in college.

I was hoping yo see Dead and Company st The Sphere for a third year in a row :(
 
Forty thousand tie dyed tee shirts everyday

Don't fear the reaper

skeleton-roses-11.-Edmund-J.-Sullivan-crop.jpg
 
With the caveat this is not my area of law and this varies greatly from state to state, so I'm relying on my limited general knowledge from one class in law school and dealing with my parents...

Trusts will generally bypass probate, because they're legally separate entities like a corporation or LLC. An estate is just the legal name for taking care of a person's affairs after they die; it's just the extension of the person until everything is wrapped up.

If everything goes into a trust or specifically named beneficiaries, probate can often be avoided because everything is in the trust's name which is separate from the person. If things go to the estate, then probate has to happen to settle the estate.

Now probate isn't inherently bad, but it normality takes more time and effort. At the least, putting any real property into a trust is generally beneficial because that had the most complications in probate.
 
In MN, probate averages out to have court fees of roughly 16% of the estate’s value. Thats according to my wife’s boss (the aforementioned attorney).
 
unofan said:
With the caveat this is not my area of law and this varies greatly from state to state, so I'm relying on my limited general knowledge from one class in law school and dealing with my parents...

Trusts will generally bypass probate, because they're legally separate entities like a corporation or LLC. An estate is just the legal name for taking care of a person's affairs after they die; it's just the extension of the person until everything is wrapped up.

If everything goes into a trust or specifically named beneficiaries, probate can often be avoided because everything is in the trust's name which is separate from the person. If things go to the estate, then probate has to happen to settle the estate.

Now probate isn't inherently bad, but it normality takes more time and effort. At the least, putting any real property into a trust is generally beneficial because that had the most complications in probate.
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Thank you.
 
I was lucky enough to see the Dead nearly two dozen times between 1989-1991, including all 3 shows at Alpine Valley in 1989 which many consider their best shows ever with Brett Mydland. Even the rain couldn't damper those 3 magical days and nights.
 
Now that we have a kid we opted for the legal plan* at my work so we’re drawing up all of the documents: Will, advanced directive, durable POA, etc.

* As I understand it, these plans generally pay attorneys shit rates HOWEVER, the attorneys who I have read comments from who take these cases say a) it’s works and b) they give the same standard of work to these regardless. That said, don’t expect much extra. If anything it helps the attorneys get contacts for additional work in the area should the person need it.
 
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