What have done or planned

[nooneufo]

I am wondering what, if any preparations you have done with regard to insuring your SO is taken care of in case of serious illness or death of yourself. I know some people expect that their SO might go back to China, and I would expect that to be a possibility. However, I am thinking more long term, for example ten or twenty years from now, perhaps they may not think that going back is really an option for them.

 

Mostly I am wanting to know peoples thoughts, and actions they have taken to take care of their loved ones in case of bad things. If you are older than your SO, say ten or more years, have you discussed the possibility of you dying and how she can take care of herself when you have gone?

 

For example, do you put your SO on your deed to the house, or do you set up a trust? Have you educated your SO on what financials to take care of? I know these are things we always hear anyone should be doing for their family, but I am wondering how you have educated your SO on the methods used in America. My SO is always asking the why of things when it comes to American government paperwork, and I always have to answer that asking why when it comes to such paperwork is a bad idea, because sense often can not be made of it. But I do want to prepare her for things in case the worst should happen.

 

I appretiate hearing about what you have done, or are thinking of doing. Any pointers, or how-to's as well.

[LeeFisher3]

Once we are married I intend for us to setup a living will to avoid the pitfalls of the legalized rape of the remaining spouse in the event of an unfortunate occurance.

 

Once this is done we will have all investments and property changed over to the trust and avoid needing to change names on legal documents twice and most of this will be handled by the lawyers office. Just lazy I guess.

[BuffaloPaul]

Plan on changing my will, name her as beneficiary for my pension, SS and insurance. Also put her name on the house.

[frank1538]

Make sure you have all your papers (will, insurance, retirement and bank accounts, stock certificates, deeds, SS, medical, etc.) in a safe place and make sure she knows what each of them means. I added a "description of contents" page as well. Since Jingwen's command of the English language is not great, I figured someone else, probably one of my brothers or Jingwen's kids would be helping, so I thought a summary would be helpful.

 

As far as setting up a trust or something like that, I thought it would be like the pot calling the kettle black. Jingwen's fiscal discipline would surely put mine to shame.

[Trigg]

Die??? Ya mean I gotta die someday??? BUMMER!!!!! Wifey will do ok. I have a little life insurance but better than that both of my income sources provide for my wife should I die. She is guaranteed 70% of my current income for life-plus college for the stepdaughter etc. plus wahtever SSI comes up with plus she will get whatever I've managed to buy back from my ex--house 'n such.

 

She won't be wealthy but she'll be a very eligible lady for one of you pervs who can take a mop slappin like a man to court.

[Guest ShaQuaNew]

I am wondering what, if any preparations you have done with regard to insuring your SO is taken care of in case of serious illness or death of yourself.

154678[/snapback]

....I aked her today to please make sure my underwear is clean....

[Steve and Qingqing]

I was told by my SO that I cannot Die before her so problem solved.

[Dan R]

I was told by my SO that I cannot Die before her so problem solved.

154985[/snapback]

I was ordered, I mean told the same

[Trigg]

I was told by my SO that I cannot Die before her so problem solved.

154985[/snapback]

I was ordered, I mean told the same

154989[/snapback]

Hmmmmm, wonder why Mop Ling never gave me that order-er suggestion??

[HanLi]

I have already set in process the allocation of resources upon my departing this world as I have 2 children that will inherit 1/2 of my estate. This includes the house and stock portfolio, never belived in death insurance, perhaps I will consider a term life plan.... of course she will be entitiled to SS benefits also.... maybe I should contact a estate planning lawyer to be sure everything is in order....

Edited September 18, 2005 by HanLi (see edit history)

[skibum]

My wife's name is on the house deed and car. She is beneficiary on my insurance policy as well as my investment accounts. I have no will so there will be no problem with probate.

Hoever, we had her get a will.

[Jim - Portland, USA]

In my opinion, one of the greatest forms of security she can have, should I die, is a good command of the english language. With that, she wouldn't have any problems being self-sufficent, so much so that she could probably create a pretty good standard of living for herself.

 

In addition to that, she's the sole benficiary on my life insurance, I'll soon put her name on the deed of the house (just bought it a month ago), she's already on the bank accounts, and she's starting to develop a credit history in her name, I think that's important too.

[Mengxin]

Knowing Mandarin and English, she'll be able to speak to 1/2 the worlds population.

 

As for advice on wills, I would recommend a "Living Trust".

Avoids probate and changes are easily made on the fly. Talk to a lawyer about it. (...I hate lawyers)