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I'm going to do it. #8411636 10/09/21 04:03 PM
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John2 Online Content OP
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After browsing in my bank I suddenly realized if something happened to me and the wife the state or somebody would get everything in there.I was shocked to say the least !.We don't have a will or anything so I decided to put our daughter in our checking and savings accounts so if anything should happen she can draw everything out without a penalty and close all accounts.I also need to add her on our savings at another place.Both vehicles are paid for so no problem there and she can do whatever with the house.We are old but still in fairly good health but a accident can change everything and I don't want the state or gov to get a damm penny !!.
What would ya"ll do and no I don't want/need a will.


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Re: I'm going to do it. [Re: John2] #8411645 10/09/21 04:08 PM
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I read you don’t need a will. Why not? You can make up a simple will.

Anyone you add to the account better be highly trusted.


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Re: I'm going to do it. [Re: John2] #8411647 10/09/21 04:11 PM
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Get a will. No sane reason not to.


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Re: I'm going to do it. [Re: TurkeyHunter] #8411654 10/09/21 04:18 PM
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Originally Posted by TurkeyHunter
I read you don’t need a will. Why not? You can make up a simple will.

Anyone you add to the account better be highly trusted.

Our daughter is 60 and is very successful,doesn't smoke don't do drugs and usually limits alcohol to dinner and a few on weekends.If I didn't trust her I wouldn't put her on the accounts.


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Re: I'm going to do it. [Re: bigbob_ftw] #8411655 10/09/21 04:19 PM
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Originally Posted by bigbob_ftw
Get a will. No sane reason not to.


Yep. Even a simple "Ma & Pa" will printed off of Legal Zoom or some other free site is much much better than dying without anything.

Guy that lives behind me died without a will and his property (40 acres) is in it's 9th year of probate and has 52 distant relatives fighting over it. Lawyers are the only people that make money in that case. Why line a lawyers pockets with your estate dollars??


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Re: I'm going to do it. [Re: John2] #8411656 10/09/21 04:23 PM
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You can't over-ride community property.


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Re: I'm going to do it. [Re: John2] #8411668 10/09/21 04:33 PM
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On a will,can't somebody contest it if they get left out ?.


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Re: I'm going to do it. [Re: John2] #8411670 10/09/21 04:37 PM
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My wife made a codicil to our will leaving all her share of community property to my daughter. My daughter and I worked it out where I still controlled the savings which has doubled since my wife died.


Quail hunting is like walking into, and out of a beautiful painting all day long. Gene Hill


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Re: I'm going to do it. [Re: John2] #8411687 10/09/21 05:01 PM
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You must really be sore with your daughter. Has nothing to do with trust. Do you have any idea what she will have to through to close your estate in the state of Texas.....without a will? Educate yourself before you put your daughter in such a position. For Gawd sake man take care of your responsibilities.

Re: I'm going to do it. [Re: John2] #8411703 10/09/21 05:19 PM
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My wife passed long time ago. I remarried did not probate the property deed, she had 3 children I wanted my new wife on the deed. Holy sh!ts, tho do this $2000 for layers to get things settled.
Do the WILL, better safe than sorry.
Just my opinion.

Re: I'm going to do it. [Re: John2] #8411705 10/09/21 05:19 PM
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Originally Posted by John2
On a will,can't somebody contest it if they get left out ?.

If you’re worried about contestants, then a will can only help. Provide details to a lawyer you trust and go from there.

Re: I'm going to do it. [Re: Dalee7892] #8411707 10/09/21 05:21 PM
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Originally Posted by Dalee7892
My wife passed long time ago. I remarried did not probate the property deed, she had 3 children I wanted my new wife on the deed. Holy sh!ts, tho do this $2000 for layers to get things settled.
Do the WILL, better safe than sorry.
Just my opinion.

Yeah, if a will isn’t probated, it opens a whole different can of worms regardless of what the will says.

Re: I'm going to do it. [Re: bill oxner] #8411710 10/09/21 05:24 PM
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Originally Posted by bill oxner
You can't over-ride community property.


PreNup or PostNup Over rides

Re: I'm going to do it. [Re: John2] #8411711 10/09/21 05:25 PM
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My dad has several low end properties. I don't even know where all of them are. He's single and also is a tool and equipment hoarder. I've begged him to get a will. Even offered to pay for it. Told him to even leave everything to my sister, i didn't care, just don't put me in the nightmare situation it is going to be when he croaks. I'm dreading having to figure all that out. My wife and I have had a will since my first child was born and I was 28. I don't understand how folks work their whole life to let the state decide what to do with their estate!

Re: I'm going to do it. [Re: John2] #8411728 10/09/21 05:38 PM
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Couple of things here:

If you and your wife die intestate (without a will), the state does not automatically seize your assets. Whom ever ends up with them after the tedious process will have to pay estate taxes. The government gets their pound of flesh no matter how we try to avoid it.

If you die intestate, your assets will go to your closest next of kin (in this case, your daughter) unless you have another child, in which they would be divided evenly. She would have to go through a process to close your estate, and depending on the complexity of the estate, the county in which you and your assets reside, and the ever present “out of the woods claimants”, even the simplest of estates can take months to close.

Get a will. Even the simplest of living will simplifies the process of closing your estate and will save your loved ones hours of time and anguish.

I’ve dealt with hundreds of families with parents or grandparents who died intestate and we needed to lease the minerals. So many times, someone says, “well, grandpa said all the minerals were supposed to go to me, and here’s a hand written note to that effect”. Those are worthless. If it’s not a written and witnessed will (need 2 witnesses), any and all assets go through the process of going to the next closest of kin.

I’ve only ever encountered one person with an estate that went to the State. She was the only child of parents who were only children. She married an only child who’s parents were only children. Her and her husband died in Washington, and her minerals (in a really good spot) went to the State unclaimed royalty account.

Re: I'm going to do it. [Re: John2] #8411754 10/09/21 06:09 PM
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Originally Posted by John2
On a will,can't somebody contest it if they get left out ?.


You can specifically exclude people from inheriting and they won't be able to contest it.

You should contact Uncle Zeek on the TFF...

Re: I'm going to do it. [Re: John2] #8411771 10/09/21 06:21 PM
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Well,I guess I need a will.


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Re: I'm going to do it. [Re: John2] #8411777 10/09/21 06:35 PM
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Originally Posted by John2
Well,I guess I need a will.



Make sure you have two witnesses

Re: I'm going to do it. [Re: Catperch] #8411930 10/09/21 08:43 PM
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Originally Posted by Catperch
My dad has several low end properties. I don't even know where all of them are. He's single and also is a tool and equipment hoarder. I've begged him to get a will. Even offered to pay for it. Told him to even leave everything to my sister, i didn't care, just don't put me in the nightmare situation it is going to be when he croaks. I'm dreading having to figure all that out. My wife and I have had a will since my first child was born and I was 28. I don't understand how folks work their whole life to let the state decide what to do with their estate!


I spent a good chunk of my adult life figuring out and simplifying the mess left by my grandfather, and to a lesser extent, my dad. And they both had wills.

Be as firm with your dad as you can and tell him to not leave you a mess. My kids won't even realize it, but I'm leaving them a huge gift in the form of simplicity.


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Re: I'm going to do it. [Re: John2] #8411934 10/09/21 08:51 PM
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I have my daughter as a signature on my checking account in case or emergencies. She has never used it but could if I were unable.


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Re: I'm going to do it. [Re: John2] #8411980 10/09/21 09:40 PM
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I put my daughter on all accounts. I sold my house and two others to her years ago I don't own anything when I pass nothing will change it will be like I was never here..


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Re: I'm going to do it. [Re: John2] #8411982 10/09/21 09:43 PM
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Get a will….like everyone is advising you to do.


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Re: I'm going to do it. [Re: NORML as can be] #8411983 10/09/21 09:43 PM
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Originally Posted by NORML as can be
I put my daughter on all accounts. I sold my house and two others to her years ago I don't own anything when I pass nothing will change it will be like I was never here..



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Re: I'm going to do it. [Re: The Dude Abides] #8412010 10/09/21 10:03 PM
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Originally Posted by TXGUNNER308
Get a will….like everyone is advising you to do.

up

Re: I'm going to do it. [Re: John2] #8412012 10/09/21 10:08 PM
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Still need to see s lawyer. Pay a consulting fee if just are not ready to pull the trigger. Learn enough to make smart decisions.

Pay on death options are not probate, items, at least with my lastest experiences. You can set your bank account with a person as an authorized siganature or as a co-owner. A co-owner is a pay on death transfer. No lawyer no court.

Again get informed.


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