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Tools and death what you doing

I've given some thoughts about it, and having no children there is not much I can think about, maybe I'll do something similar to what Larry mentions. On the other hand Rob, there are NGOs that would take them gladly to be sent to those countries where t they teach ww to people.
 
larry merlau said:
not to beat up on chuck ellis, but anyone here that doesnt have a will or trust, is putting a major load on those left afterwards.. you really need to make it a priority and not have the attitude i dont care what happens i wont be here, outlook..
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Not taking it as a "beat up", but you are right, it needs to be a priority that has to be address very very soon. I'm in great health for the most part, but also past 70 and the end is inevitable. We've already decided on what to do with the house, all of my children have their own place and would not need this place, except my step son.... he is a long haul trucker and lives in his truck, but has done a lot to help out around here, so we figure he should get the house.... fortunately (or unfortunately) there isn't much else to worry about except my tools.
 
Breaking news: this is a moot point. For every 1 minute you work out / exercise you gain 14 minutes of extra life. So if you exercise for 103 minutes a day, you will live for ever.
 
I was being sarcastic in my above reply. My guns, specific ones go to each girl and or son in law. Some of the "special" ones already have found their new home past my ownership. I have either given them away or sold them so the party I wanted to have them actually has them. I greatly enjoy them bringing them to the farm and shooting and enjoying that specific gun. We have a will, the farm is left to the girls. We have talked at length about them renting the cropland out and enjoying a little cash bonus from time to time from it. The farm has two homes on it, they can live in them or rent them out and again hopefully enjoy a little profit from them. I am only the steward of this land for when I am here, it is not to be an anchor to my girls, if it is easiest, call in an auctioneer, liquidate and move on with life. My things are only things and the special things I have tried to make sure they end up with special people. Daily our lives change and who knows what is around the corner. Maybe one of the grandkids will have an outstanding penchant for farming or livestock, maybe a trust will be created for that child's development. Who knows. It is an evolving process here. Most importantly to me, it isn't a secret. No surprises in our will, we talk about it and it isn't morbid.
 
I know laws in each are different,in each state, but a "trust fund", at least in our state is a great thing. My wife's parents had one and when my wife's mother passed away (her father had already passed away) it was so much easier dealing with the estate. My wife, as the one in charge, had immediate access to every thing. No probate or anything. She could immediately discharge the will. When my folks passed away it took over a year to go through the process to have access to everything. Our state wants their greedy hands in everything. They say a trust fund is not necessary unless you have a large estate, but even with a small estate, it is much easier with a trust fund. I hope I am using the correct terms here. No, we do not have on because I kept fighting my wide over it, but now I have experienced the difference and we are going to have one for our kids sake.
 
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Paul Douglass said:
I know laws in each are different,in each state, but a "trust fund", at least in our state is a great thing. My wife's parents had one and when my wife's mother passed away (her father had already passed away) it was so much easier dealing with the estate. My wife, as the one in charge, had immediate access to every thing. No probate or anything. She could immediately discharge the will. When my folks passed away it took over a year to go through the process to have access to everything. Our state wants their greedy hands in everything. They say a trust fund is not necessary unless you have a large estate, but even with a small estate, it is much easier with a trust fund. I hope I am using the correct terms here. No, we do not have on because I kept fighting my wide over it, but now I have experienced the difference and we are going to have one for our kids sake.
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Yes, setting up a trust makes the handling of an estate much easier. Several years before my wife's mom passed away, the three of us met with an attorney and had a trust set up. In California the probate process takes a year or more, but with a trust, we completely avoided probate. My MIL had virtually no money, but by spending a few hundred bucks getting the trust set up we still saved money compared to the taxes and court costs we would have seen if she had a standard will.
 
Steve Southwood said:
Breaking news: this is a moot point. For every 1 minute you work out / exercise you gain 14 minutes of extra life. So if you exercise for 103 minutes a day, you will live for ever.
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It certainly feels like forever when your exercising.

Paul Douglass said:
No, we do not have on because I kept fighting my wide over it, but now I have experienced the difference and we are going to have one for our kids sake.
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I guess we will find out what happens to your tools, if she see's the Freudian slip.:eek::rofl:

I have been to a few sales where they were a member of some club (woodworkers, car guys, etc.). Normally the club guys got word from the families, after the families got to choose and before the general public. I hope it will be a combination of that and something like that Torino man movie, where you find someone you can help before you go.
 
That's an easy one as Norma said if I die first none of the tools are getting sold! Period end of discussion!!!!

As for the kids they only get our possessions once both of use are dead and buried just like my parents did. If there is anything we think they might fight over it will be gotten rid of in short order as we already have started that. My parents did that and it made everything go very smoothly.

Other than that I'm not going into detail for the rest of our estate planning as things do change and I rather not have them written somewhere that could be used in the future to dispute something in the will.

Just make sure who ever is the executor of your will that you trust and that they will carry it out as you intended as I recently found out they don't have to follow your will to the letter.
 
My tools will go to my daughters that do wood working an to some great people I know that will use them to encourage others to better themselves in there hobby, this has helped my wife out a lot but as for the wood well that's up to what the daughters do with it an yes there like me Hoarders of fine woods
 
Vaughn McMillan said:
Yes, setting up a trust makes the handling of an estate much easier. Several years before my wife's mom passed away, the three of us met with an attorney and had a trust set up. In California the probate process takes a year or more, but with a trust, we completely avoided probate. My MIL had virtually no money, but by spending a few hundred bucks getting the trust set up we still saved money compared to the taxes and court costs we would have seen if she had a standard will.
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+1 on the trust. Here in MA my wife and I set up something called a "living trust". We have wills that basically say if anything happens to both of us, all assets go into the trust. My sister then has complete authority to use the assets in the care of our daughter. According to the lawyers, this makes it all quick & clean with minimal expenses once we kick it.
 
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