Make up your Wills, Power Of Attorney (money and medical) and for goodness sakes...

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It's weird, because she said 495 for the will, 75 each poa and after taxes and fees it was 895 (I rounded up). I don't forsee it being too difficult. The kids get everything 50/50. One will get one car, the other gets the other. Only exception would be my younger boy would get my bike (the older one doesn't want it). I'll look at the government forms. Thanks.

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crankcall said:
A grand sounds a bit spendy unless its a pretty complicated package with lots of layers on the onion. Mine ( a rewrite) was done two years ago and we paid $395.00 for a couple, POA you can download off the Gov't website and fill out at home for free.

Mine is pretty simple in that it goes equal split to two kids, they are both listed as executors.

Also make it easy for your executors, have a box (and tell them where the hell it is) with your will, deeds, account numbers, RRSP,LIRA, and whatever various wacky stuff you have title to, in one place, with relevant contact info.

Sending your kids on a scavenger hunt really blows.
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All my paperwork is in the inside pocket of the suit they're going to cremate me in.

Also check into estate planning. Auntie Kathy slipped in some inheritance tax changes a year ago IIRC. There was so much other crap going through no one noticed the fart.
 
Joe Bass said:
It's weird, because she said 495 for the will, 75 each poa and after taxes and fees it was 895 (I rounded up). I don't forsee it being too difficult. The kids get everything 50/50. One will get one car, the other gets the other. Only exception would be my younger boy would get my bike (the older one doesn't want it). I'll look at the government forms. Thanks.

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Get it done and have a heart to heart with your kids so that they know what you want. Now my Mother is in ailing health and my Dad is not getting any younger. They have given me a house key for the inevitable time I will have to gain entry to their house. I also know where their legal documents are and where the key is. As sad as it is to think about at least I will go in with a gameplan and knowledge of where everything is which is a complete contrast from the crapshow that my in-law's passing was. My parents have also been very open about discussing their wishes after their passing with regards to cremation etc. I still wish they would just go ahead and make their arrangements now with one of the funeral homes close to them but that is their choice.

With 4 deaths in my family last year and my wife becoming quite ill now (thank goodness for the benefits at my job) I think my wife and I need to get our arrangements done sooner than later. In the good news front we finally have P.O.A. for my Autistic Brother-In-Law who we have been looking after since my Mother-In-Law's very sudden passing 5 years ago.

Life can change in an instant. As crappy as wills, estates, P.O.A., final planning are setting these up is a real gift for your loved ones who get left behind.
 
A friend was the executor of his aunt and uncles estate. He and his wife were cleaning out the house to put it up for sale and got rid of bags of old newspapers in the garbage. A few days later they were cleaning out more and for laughs he opened one of the bundles to see the date and found that the bundles of newspaper had money wrapped inside.

My mother advised us that her book collection was worth a lot of money. It wasn't the books, they were stuffed with cash.

Have heart to heart talks with people of concern regarding little stashes. Also recognize that frail minds can be erratic, don't trust banks etc.
 
My grandparents were superstitious, Gran was a hoarder and had about 45 purses, thought it was bad karma to have a purse with no cash in it, it was peanuts but every bag had money in it, Gramps left cash in the pockets of every suit.

Then comes the really awkward stuff when you figure out Granny was also addicted to vintage German girl/girl SMBD spanking photos. Where the heck you even start to collect that stuff on a farm with no electricity? Tidy up your porn stash before you go folks.
 
Also don't limit these things to the old folks. Mom and dad could get wiped out coming back from a night on the town leaving the tykes in the care of a babysitter. Who takes over and what assets are there to do it?
 
Got my will and POA done last week for my wife and I. All of $200. Cash. Because, y'know, 'da bridge.

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Have to do mine over. Lawyer died (R.I.P.), and it's out of date anyways.
 
Make sure you read up on inherited tax law or have a good tax lawyer to consult before getting your will done.

My kids wont have any of my estates as they will belong to my trust that my kids will have control of. You would not believe how much money i save from tax.

So dont skimp, start learning tax law or pay money for professional help. It gets more complicated if you got other form of investments. And remember, money/cash is tax free.
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