Anonymous
07/29/2023 02:39
Subject: MIL died with will; FIL has none
Anonymous wrote:Anonymous wrote:Anonymous wrote:Your FIL needs a trust. Even if he has little money other than the house.
Unless the FIL has over $12.9 million (or $25 million if he elects to “port” the MIL’s exemption — which he should, btw — get advice from a good tax accountant asap) in assets, he does not need a trust. It’s just more paperwork. If he wants to leave $$ in a trust, he can do so via his will. He does need a will.
Wrong. He needs a trust to shelter from medicaid.
Why would someone with money want to be on Medicaid? I would never want a parent of mine on Medicaid just so they can leave me a little more $$. That’s horrible.
Anonymous
07/28/2023 16:43
Subject: MIL died with will; FIL has none
If it were me and my parent I would say,
“Dad, the loss of mom really got me thinking about my state of affairs. I’m making an appointment with an estate lawyer next month. Can I get you to come with me and we can both get one? It’d bring me a lot of peace.”
“Dad, the loss of mom really got me thinking about my state of affairs. I’m making an appointment with an estate lawyer next month. Can I get you to come with me and we can both get one? It’d bring me a lot of peace.”
Anonymous
07/28/2023 16:33
Subject: MIL died with will; FIL has none
Anonymous wrote:Anonymous wrote:Anonymous wrote:Your FIL needs a trust. Even if he has little money other than the house.
Unless the FIL has over $12.9 million (or $25 million if he elects to “port” the MIL’s exemption — which he should, btw — get advice from a good tax accountant asap) in assets, he does not need a trust. It’s just more paperwork. If he wants to leave $$ in a trust, he can do so via his will. He does need a will.
Wrong. He needs a trust to shelter from medicaid.
Medicaid trusts are tricky but if you want to go down this road, start ASAP because of the look back period.
Anonymous
07/28/2023 10:17
Subject: MIL died with will; FIL has none
Yes, men remarrying, not matter how old they are, is a huge issue. Because they are dependent on women.
I'd encourage him (through your DH) to set up a trust for his estate that will be distributed at his death. He can spell out what goes to his kids. If he remarries, he can alter it so that his new wife gets something from the trust, but if he defaults to doing nothing, I'd start making your peace that your DH will get nothing.
I'd encourage him (through your DH) to set up a trust for his estate that will be distributed at his death. He can spell out what goes to his kids. If he remarries, he can alter it so that his new wife gets something from the trust, but if he defaults to doing nothing, I'd start making your peace that your DH will get nothing.
Anonymous
07/28/2023 10:16
Subject: MIL died with will; FIL has none
Anonymous wrote:My condolences, OP. I hope your husband is coping.
I would let FIL grieve for a while, then have his children bring him to an attorney so a new will can be drawn up. I don't know any elderly men who remarried after their wives passed away, but it's just a hassle when someone dies without a will. Please impress this on him.
Agree. We got my FIL to sign one by telling him that otherwise the Big Bad Government was going to take it all on taxes. (Kinda true, and very motivating to men of his generation and political persuasion.).