Fifty Plus (50+) - Do you have a will?

I've been getting ready to update my will, and, like usual, found myself putting it off for a long time. My "estate" isn't even very complicated, but somehow I always find a way to put this project on the back burner. So I'm wondering -- do y'all have a will, and is it up to date? And, while I'm poking my nose where it doesn't belong, what are you going to do with your bike(s)? I mean, you can't just let them go to just anyone, right? :D

My Bianchi and Capo road bikes are a problem, since my sons are too tall for them and my wife is slightly too short for them. I would certainly want them to go to someone who would appreciate what they are.

What little money I have is payable to my wife upon my death, the house
is falling apart, my Chevy is dead in the driveway, the MG is dead in the
garage (and she can't work the clutch anymore), and I'm taking my bikes
with me!

In other words, not yet. Yes, I know it's important but so little is
contestable she's not too worried about it.

Well, as sort of a pre-cursor to making a will, I asked my wife "Honey, if something happened to me do you think that you would find another fella someday?"

She said, "Honey, I don't know. I might."

I said, "Well, if you do, are you going to let him ride my bike?"

She said, "No! It's too short for him."






At age 64, I need to get a will in place.

I do though it could probably be a little more up to date

I've had a will for years but it needs some updating.

I haven't given too much thought to what will happen to the bikes. I'm hoping I live long enough to wear them out. Maybe I'll take the Madone with me:thumb:

As a 12 year old I was stunned to hear my mother say she didn't care what folks did with her or her stuff when she was dead. I thought that was a very cold thing. She went on to explain that what she wanted for her was only important while she was alive. The older I've gotten the more I've come to appreciate her position. I do care if upon my death my loved ones will be financially secure, and have taken steps to that end. In terms of my bikes... Well, once I'm gone they can do whatever they want with them. I'll be riding something better in a better neighborhood anyway.

My wife and I took out life insurance on each other. So, now everything is pretty much of a waiting game.

Seriously, I think a will is important. It's not that expensive, and you'll be doing your loved ones a real service by keeping the probate and legalities to a minimum.

We each have a will but all it says is everything is left to the family trust. Everything we own is in a family trust.

Will? Of course. Doesn't everyone over 50?

But make sure you spend most of your money before you die.

My bikes are being burried with me so that I will have transportation in the afterlife. So are my cats, my servents (bike butler) and most of my treasure......:eek:

We modified our wills 2 years ago in order to protect our now 15 year old grandson. As his father, our son, has serious problems (which he refuses to address or really acknowledge), we feared that if he got everything he'd piss it away within 2 or 3 years and the little guy would end up with zilch.

Best regards

We have one but I think that it definitely needs to be done over.

My long range plan is for the last check out of my account to go to the undertaker and for it to bounce. Bingo! Problem solved.

No will but I have a way! :D

A will is very important if children are involved. Also, a health-care directive with a power of attorney. This is extremely important for singles. As for my "orange crush", I plan to wear it out. I am afraid I will need to get another bike before I go and can't imagine riding anything other than orange crush.

Not only a will, but trusts:

Durable Medical Power of Attorney x's 2
Special Needs Trust for my son with a disability.

Etc.

I tried to will myself up a steep hill, but it was for nill!
But seriously folks, yes, a will and trust also-just in the last few months.

Yeah, the purpose of a will (and a living trust) is to settle stuff now, not dump the responsibility upon someone else.

How about a new thread for "willed bikes"? Can you imagine? All of us will be waiting for Digital Gee to die so that we can get our hands on the goods.

Yeah, the purpose of a will (and a living trust) is to settle stuff now, not dump the responsibility upon someone else.

How about a new thread for "willed bikes"? Can you imagine? All of us will be waiting for Digital Gee to die so that we can get our hands on the goods.


As time goes on, all of us are getting just a bit closer to the grim reaper. Some here have already met him/her.

So, what WILL happen to those bikes?

They most likely will be of no use to your partner - and will probably be sold for next-to-nothing at an estate sale.

So, I think the best thing to do is for me to give you my address, and a guaranteed shipping and packaging payment, and you can simply have the widow or kids ship them to me, and I will gladly handle the problem

As time goes on, all of us are getting just a bit closer to the grim reaper. Some here have already met him/her.

So, what WILL happen to those bikes?

They most likely will be of no use to your partner - and will probably be sold for next-to-nothing at an estate sale.

So, I think the best thing to do is for me to give you my address, and a guaranteed shipping and packaging payment, and you can simply have the widow or kids ship them to me, and I will gladly handle the problem

That said, if shipping is cheaper to San Diego, you could have them sent my way instead. :D

That said, if shipping is cheaper to San Diego, you could have them sent my way instead. :D

Don't know that you'd be interested, Deege. Most of my bicycles are painted black.

My wife and I have wills and we are in the process of udating them. As to my Litespeed, who cares what happens to it when I'm gone. I'm pretty sure upon arriving in heaven a new Litespeed will be waiting on me.

I'm single, 2 kids (12 &23) in college. Yes, a will is a good idea. All goes to my kids evenly.As for bikes....into the estate sale they go and I'm hoping they don't end up in a trailer park with the handlebars upended--- a handbuilt lovely in the hands of a mullet-head methie will trouble me for an eternity.

Having 2 daughters, as you do, a will becomes a necessity. Not to mention medical power of attorney, etc. Worth the bucks.

Curious...any of you use an on-line website to do your will? Seems like if it were a simple affair, that might be a low cost solution. But...is it a false savings?

My wife and I have wills and we are in the process of udating them. As to my Litespeed, who cares what happens to it when I'm gone. I'm pretty sure upon arriving in heaven a new Litespeed will be waiting on me.


Here you are - not a litespeed, but otherwise, pretty classy!

http://imgsrv.kluc.com/image/kluc2/UserFiles/Image/jesus_bicycle.jpg

My wife and I had been putting this off for years, but when I got the cancer diagnosis this June, we finally took care of it, along with the health care directive and power of attorney.

I made reference to a list to distribute certain properties like my bikes. I have not figured out what to do about my main bike, Ribby. My older son is too tall for her, as will be my younger son in a few years. I'd hate to see her sold to someone who wouldn't appreciate her, but I'll leave that up to the boys to work out.

We had ours done by a lawyer and I appreciated having his help to understand some of the terms and where there were potential problems to consider. He charged $300 for the whole package for both of us. The full bill was covered by my legal insurance policy (part of my benefits package from my job).

What little money I have is payable to my wife upon my death...
My wife doesn't know how good she has it - not only does she get my dosh, but she actually fits my Atala. The Stan Pike is a cm larger, so that's a problem. I won't have to worry about that though, 'cause I'll probably die riding it!

Curious...any of you use an on-line website to do your will? Seems like if it were a simple affair, that might be a low cost solution. But...is it a false savings?

In a practical sense, don't know why a simple will isn't self-doable. An experienced attorney, however, might be able to point out pitfalls, inconsistencies, conflicts or incompleteness in your plans. Cost me about $300 attorney fees a few years ago to get mine made.

On a light-hearted note, I heard a minister once remark he wanted only two palm-bearers...one for each of the trash-can handles. ;)

On the more serious side, however, I can attest how much easier a will makes it for the folks left behind. My younger brother passed away earlier this year without a will (i.e., intestate). As a result, it's going to take nearly two months to get the court to appoint me as the administrator so I can take care of things like getting his permanent address changed, close bank accounts, etc., etc., etc. Yes, it can be done faster, but only if you want to pay some insurance company 1% of the value of the estate to ensure I don't skip off with the money (yeah, right). I can't imagine this if a wife/children were involved...it could get very, very messy while they waited until his accounts got untangled.

So do yourself a favor and set up a will (& name an executor). And yes, I'm currently updating my will (& health care power of attorney & durable power of attorney) and strongly recommending it to my remaining brothers/sister.

After thinking about it for a few years, finally went in about three months ago and had a lawyer make up a will for me, with the trusts and instructions about whether to unplug me or not and all that stuff. Received the copy to look over and haven't done that yet, though I did pay the bill. One of these days, I need to go over that and get it finalized. Til then, I'd better not croak.

We had been meaning to do wills, medical directives, power of attorney, and the whole thing for years, but never got around to it until I got diagnosed with lung cancer. It just took the right incentive; it's all up to date now.

We got an attorney to do it. She's a customer of my wife's (my wife is a hair stylist), and did a very thorough job at a nice price.

Curious...any of you use an on-line website to do your will? Seems like if it were a simple affair, that might be a low cost solution. But...is it a false savings?

There are several companies that sell software that takes individuals through a step-by-step process to construct a will (Nolo Press is one example). Simple & cheap. If memory serves me correctly, however, they're not valid in all 50 states (Louisiana is one, I believe). And as you pointed out, if you want to include subtleties like multiple guardians, living trusts, ex-spouses, etc., it's probably better to consult an attorney.

We have a living trust that's slightly outdated and needs updating.

On a very serious note -- How many of you have final directives? If you fall off your bike and smash your head on the pavement and can't speak for yourself, do you have a loved one who knows your final wishes -- without any doubt? That scenario may seem very unlikely, but just ask anyone who's lost a loved one from a traumatic accident and had to make that awful decision while filled with anguish, confusion, and numbness. That piece of paper can prevent additional anguish and lingering, haunting doubt.

We have a living trust that's slightly outdated and needs updating.

On a very serious note -- How many of you have final directives? If you fall off your bike and smash your head on the pavement and can't speak for yourself, do you have a loved one who knows your final wishes -- without any doubt? That scenario may seem very unlikely, but just ask anyone who's lost a loved one from a traumatic accident and had to make that awful decision while filled with anguish, confusion, and numbness. That piece of paper can prevent additional anguish and lingering, haunting doubt.


Better is a Medical Power of Attorney.

Just having someone know your final wishes doesn't hack it in the medical world legally. Without the proper written language, they could be sued, and won't do whatever your loved one may request.

A Medical POA actually assigns the person(s) who can make decisions about you, and gives written guidelines about that decision.

In my case, I have my wife and then my son, etc. No way do I have an MD making a decision about my life. Too many value considerations (and perhaps financial) in that picture, and they really don't want to do it either.

Yes I have a will. And my wife has a will. Eather way my son gets the bikes when I am gone.

Nope.

My bikes are being burried with me so that I will have transportation in the afterlife. So are my cats, my servents (bike butler) and most of my treasure......:eek:

Putting this in writing seems to have brought an end to the cat's conspiracy to do away with me and take over my workshop. Perhaps I should add my wife...:rolleyes:

Putting this in writing seems to have brought an end to the cat's conspiracy to do away with me and take over my workshop. Perhaps I should add my wife...:rolleyes:

You know you've gone over the edge when you start replying to your own posts.

You know you've gone over the edge when you start replying to your own posts.

Says who?

^ :)

If you're in California, you need more than a will. You need a living trust so that title to property is transferred now (to the living trust) before you die. If you have kids from a first marriage, then that's important too.

There are attorneys and then there are attorneys. Some attorneys dabble in several things and some specialize just in estate matters. Not all specialist will charge you an arm and a leg.

Sometimes the difficulties are not in the size of the estate but in family matters due to divorce and remarriage, adult children will disabilities or special needs. The specialist will know how to handle these cases because he or she will do more of them. Its like picking the doctor who does bypass surgeries, a few a year or hundreds with a team and track record.

If you find euthanasia to be morally wrong, then that durable power of attorney needs to be written with the proper language. If you don't even know why euthanasia is morally wrong, then that's a whole different thing.

I don't have a will, though I should have one, as I don't want the state to divvy up what little I have.

I have it on my to do list.

what timing i went to senior center today for the every other month free lawyer day
to discuss if i needed to update my Ohio Will now that i live in Colorado

bottom line was probably should ... but i don't really have to as a colorado
judge would assign someone in Ohio to interpert the Ohio statues referenced ...

Sounded like a pay me now or pay someone later (when i'm not around to worry about it) answer

Better is a Medical Power of Attorney.

Just having someone know your final wishes doesn't hack it in the medical world legally. Without the proper written language, they could be sued, and won't do whatever your loved one may request.

A Medical POA actually assigns the person(s) who can make decisions about you, and gives written guidelines about that decision.

In my case, I have my wife and then my son, etc. No way do I have an MD making a decision about my life. Too many value considerations (and perhaps financial) in that picture, and they really don't want to do it either.

Wills for both of us-yes
Living Wills-yes
Durable Power of Attorney-yes
Medical Power of Attorney (health care proxy)-yes.

All of these are state dependent.....what is often very helpful is once you have done all of this is to sit down with the executer of the Will, and your health care proxy and share your thoughts about end of life care and your philosophies of life so that person can make decisions which are consonant with your wishes iff you cannot make the decisions..............we have actually shared our thoughts with our children so they know...........

For many of us it is helpful to have these discussion with our parents...............

Here in America we never utter the "d" word: DEATH. We say passed away-why? One cannot really live until s/he has come to accept her/his own mortality.............

And as an aside, the other unutterable for healthcare is the "r" word: "rationing."

I'm not an attorney, but I do play one. The couple attorneys I did deal with were a great disappointment. Keep in mind your biggest asset is probably a IRA or 401k, and/or life insurance. They should and probably do have a beneficiary, and as a result that money will past to the beneficiary outside your will. Heck even the CD's I occasionally buy have a beneficiary. We usually own our houses with joint ownership, so at least the first one down, doesn't need a will to pass on the house. The will covers disposition of your personal property, like your bikes, car, cameras, cloths, cash under mattress, etc. There are differences between states. Some states do not permit self written wills. It is however a sure bet the state does have a will for you, should you pass without. If you like California's terms, then no will required. If Calif. permits self written wills, AND you are only directing who is to get your stuff, AND it's not your cat; then by all means go online, download a form and fill it in. If you want to setup trusts, or cut somebody out who would normally expect something, I'd meet with an attorney. Name a responsible person or two as executors, NOT the attorney or a bank. Your executor could always consult an attorney if they must. Here in PA, the only thing that really seems to be an issue, is the State wants it's Estate Tax within 9 months of passing. At least they permit you to deduct the pie and other food served at the wake.

If you find euthanasia to be morally wrong, then that durable power of attorney needs to be written with the proper language. If you don't even know why euthanasia is morally wrong, then that's a whole different thing.

As a gentle correction: euthanasia is not LEGAL in the US. Oregon has a death with dignity -Physician assisted suicide which is different from euthanasia. Palliative sedation, good end of life care,etc is NOT euthanasia.......often misuderstood in our society. Holland has euthanasia.........

A good estate planning attorney can save you a lot more than you pay, even an expensive one. If matters are not simple, it pays to have a good professional help you navigate the waters of confusion. My mom hired an excellent one with whom we met for the first time yesterday. After just one visit her mind is completely at rest, knowing he'll walk with her every step of the way.

What does youth in Asia have to do with a Power of Attorney?