RubyPearl
OOA Interest
Smile at me first....
Posts: 39
|
Post by RubyPearl on Mar 31, 2011 22:18:02 GMT -5
If you or your spouse/Significant Other died, will you have the money to bury them and sustain your family and household?
If not why? Do you think you are too young to worry about this issue? Well you are not.
If you have children, will they be taken care of if something happens to you?
If divorce, did you change your beneficiary?
-No I do not sell insurance/
|
|
|
|
Post by T-Rex91 on Apr 1, 2011 8:01:18 GMT -5
Yes, I have adequate life insurance.
If you are single, you should have enough to cover your debts and burial.
If you are married and the family finances depend on your income, you should increase the amount to leave the spouse whatever amount you two decide is appropriate.
If you have children, experts recommend you increase the coverage amount enough to cover day to day living expenses until they are 18 and then fund college for them.
If I were divorced and the ex would get custody of my children in the event of my death , I'd create a trust to be managed by a third party to administer funds for the children.
|
|
|
|
Post by LejaOMG on Apr 1, 2011 8:23:15 GMT -5
I'm worth so much more dead than alive, it's fairly depressing...
My issue right now, is that I don't really have any "heirs" so my "estate" (if u wanna call it that) passes on to whoever claims it first under the inheritance statute of MD. My mother is no more entitled than my half-brother, my stepfather or my stepsiblings.
|
|
|
|
Post by Kyng of JDs on Apr 1, 2011 8:25:29 GMT -5
Yes, I have adequate life insurance. If I were divorced and the ex would get custody of my children in the event of my death , I'd create a trust to be managed by a third party to administer funds for the children. I think this is my favorite post of yours. EXALT Shout out to folks knowing how to properly use a trust. |
|
|
|
Post by LejaOMG on Apr 1, 2011 8:26:14 GMT -5
Kyng's job is to live longer than me so he can administer my ish when I die.
|
|
|
|
Post by Kyng of JDs on Apr 1, 2011 8:26:58 GMT -5
I'm worth so much more dead than alive, it's fairly depressing... My issue right now, is that I don't really have any "heirs" so my "estate" (if u wanna call it that) passes on to whoever claims it first under the inheritance statute of MD. My mother is no more entitled than my half-brother, my stepfather or my stepsiblings. How are you going to have insurance without a will. C'mon L. You KNOW better  |
|
|
|
Post by T-Rex91 on Apr 1, 2011 8:28:03 GMT -5
I'm worth so much more dead than alive, it's fairly depressing... My issue right now, is that I don't really have any "heirs" so my "estate" (if u wanna call it that) passes on to whoever claims it first under the inheritance statute of MD. My mother is no more entitled than my half-brother, my stepfather or my stepsiblings. so no will Leja? No charities or scholarships you'd want to endow? |
|
|
|
Post by T-Rex91 on Apr 1, 2011 8:29:32 GMT -5
I'm worth so much more dead than alive, it's fairly depressing... My issue right now, is that I don't really have any "heirs" so my "estate" (if u wanna call it that) passes on to whoever claims it first under the inheritance statute of MD. My mother is no more entitled than my half-brother, my stepfather or my stepsiblings. How are you going to have insurance without a will. C'mon L. You KNOW better Sounds like a cobbler's children have no shoes situation..... |
|
|
|
Post by LejaOMG on Apr 1, 2011 8:44:58 GMT -5
Shrugs. My property is squared away. For my government life insurance, I had to manually specify how my death benefit would be dispersed (on accounta the reason I mentioned above). I'll get a will...eventually. If I should die before that happens...well, that's what Kyng is here for. #suchislife
|
|
|
|
Post by LejaOMG on Apr 1, 2011 8:45:47 GMT -5
I'm worth so much more dead than alive, it's fairly depressing... My issue right now, is that I don't really have any "heirs" so my "estate" (if u wanna call it that) passes on to whoever claims it first under the inheritance statute of MD. My mother is no more entitled than my half-brother, my stepfather or my stepsiblings. How are you going to have insurance without a will. C'mon L. You KNOW better That's EXACTLY why. The insurance documents lay out who gets what, so I haven't felt called to have a separate testament. |
|
|
|
Post by Rare_Commodity on Apr 1, 2011 11:13:46 GMT -5
^^ I was wondering too if yo had a will.
I have insurance through my employer and then I also have a separate life insurance policy and I am 28. I dont own much per se but I have a Will and my mom is the beneficiary. Good thing is I don't have a whole lot of liabilities to pay off so that is a plus. When I get married and have children I will re-write it to incorporate them.
|
|
|
|
Post by Sapphire on Apr 1, 2011 13:57:35 GMT -5
Good advice 91!
|
|
|
|
Post by T-Rex91 on Apr 20, 2011 8:19:44 GMT -5
Yes, I have adequate life insurance. If I were divorced and the ex would get custody of my children in the event of my death , I'd create a trust to be managed by a third party to administer funds for the children. I think this is my favorite post of yours. EXALT Shout out to folks knowing how to properly use a trust. After all this time Kyng? After I masterfully set you up in the hotel room in games? THIS is what I get props for?  LMAO!!!! But I'll take it |
|
|
|
Post by Kyng of JDs on Apr 21, 2011 14:06:20 GMT -5
I started to say that this was second to the beating/rape set up in games. But, this is real; I have the hardest time educating my clients on the use and benefit of a trust.
So, yeah. That post needs toilet paper. It's the ish.
|
|
