Trying to get my mom to do things now while she can.
My mom has a nice little farm that she wants me to have, but I don't want it. Trying to get her to sell now and make investments. I'm thinking she'll need the cash flow for her care in the future. I can't make her understand unless she just drops dead I'll have to sell the farm to pay for her care. Older people can be very hard headed.
Keeping your ducks in a row, for your family.
Discussion in 'Ask An Owner Operator' started by blairandgretchen, Dec 27, 2023.
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Update, I guess -
I went over there yesterday and broached the subject (at Gretchens' behest) of how his finances were, because Marlene handled everything, and was very closed shop - to the point their son, Paul - was in the dark about 90% of it. He was cool with that, so I spent a few hours poring over poorly filed paperwork.
We went through everything, and it's all OK, just a visit to the insurance agent to 'trim down' some things that they "As a good neighbor, like State Farm is" - haven't removed. And the health insurance guy in town, but he actually has a conscience.
Unknown to Paul and his sister - Marlene,(Toms'late wife) had portioned off about $150k from their investments, that Tom has no control over.
When Marlene was in the hospital a few years back, she made Gretchen swear that "Tom better not have some skank living up in the house" if she passed suddenly. Her fear was that Tom would take up with some gal, the funds run dry, house sold, whatever - and the kids would have nothing. So she set this deal up accordingly to her fears. Neither of the kids want to touch it as long as Tom is alive.
I bounce all of this off his son, and Tom. I've learnt quite a bit in the last month or so. I like Paul, we always got along. But Tom always treated the children as just that - whereas , for some reason, I just lay it down and shoot it straight - and he appreciates the help. I stopped treating my parents as adults when I became one - and it was a different relationship. For some reason, some parent/child relationships never move on from . . . just that.
We went down to the SSA, they had already received a copy of the death certificate, we had one. She earned less than him, so benefits end. If it had been the other way round, it's a different calculation.
There's a one time 'death benefit' from the state, a whopping $255, after a scheduled phone call 2 months from now, Sigh.
Just tidying up loose ends. Paul will be back here in May to sweep up the loose clippings.
Had him over for dinner last night. 146lbs. 6'2" tall 84 year old man that used to leap 4 foot fences with a single hand hold, when I met him at 70. Need to find the fattiest burger joint around and drive him there everyday.fordconvert, IH Truck Guy, Opus and 7 others Thank this. -
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Personally, I've never lived my life to provide for my ADULT children. If they get a piece, well good on them. Otherwise, my thoughts were only for my wife.Accidental Trucker, kemosabi49, Big Road Skateboard and 4 others Thank this. -
Regarding wills make sure their is a beneficiary named. Some people tend they leave everything to estate which means estate will go into probate hell for the executor. Always name Beneficiary.
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