Sorry, It's Your Problem Now because I'm Dead

[+ purplekow]

This is the title of a work book a friend sent me after I had a recent medical event.  The book is designed to help you get your affairs together for end of life care and estate planning.  It is basically a preparatory document which you can use to discuss your estate planning with a professional.  I am not particularly recommending this book, but it did cause me to consider speeding up the process which I had already started to get my affairs in order.  

I believe I am late to this as I have already retired and I have only recently started to work on this material.

My question is:   If you have started or reached a steady state with your estate planning, at what age did you first look to do so?  

If you have not, at what age do you expect to start tending to this matter?

[jeezifonly]

Worth looking into!!!

Most of us don't think of what we'll be leaving behind as An Estate,

but if we've reached the age of awareness of the elders in our extended family dying, or facing end-of-life care, it is time to establish on paper our intentions for our own progress into that stage of life. 

Of course, in addition to POA, DNA, and real property designation, a proper workbook would include specific bequests of silicone toys, cast albums, and leather gear... 😜

[+ PhileasFogg]

First, I hope you’re on a path to full recovery Dr PK!

I redid everything at the beginning of COVID when notaries witnessed signatures by video.  I was late 50’s.  I had previous wills and planning that became irrelevant as my kids launched and grandkids entered the picture. 

[maninsoma]

I started the process in my mid to late fifties.  

[+ Pensant]

I set up my first Trust in my late 30’s. I’ve updated it regularly and need to do it again. My sister and I have even discussed buying our stones in our large family plot in Upper Bucks County.

[+ Charlie]

My plans for the hereafter have usually been in response to the death of someone close to me. I made my first will when I was in my 40s, as a result of dealing with my father's death.  When friends my own age started dying during the AIDS epidemic, I started thinking about what would happen if I were to go relatively unexpectedly, and began to revise the will to deal with things like the distribution of personal papers. I was happily married for many years, but the death of my partner a couple of years ago made me realize the necessity of major changes to the existing will, of which he was to be the executor and primary beneficiary.  With no children or close family members, and with most close friends as likely to die before as after me, I had to find someone I could trust to understand and carry out my wishes. I settled on my partner's youngest brother, with whom I have been friendly for many years, and his brother's daughter--a very responsible lawyer--as co-executors, because they would understand the situation and would be willing and capable of carrying out my wishes. Their family members will also be beneficiaries, so it is in their own interest to take care of things.  

But I am also thinking now about getting rid of lots of things before I die, so no one else will have to deal with them when my time comes.

[+ Vegas_Millennial]

13 hours ago, purplekow said:

My question is:   If you have started or reached a steady state with your estate planning, at what age did you first look to do so?  

I started looking into beneficiaries at age 21 when I had to choose a survivor beneficiary for my pension.  I mentioned the need to create a trust to a friend of mine at around age 25, and he offered to help because he was an estate planning attorney.  However, when we began the process it felt very rushed and not thought-through so I stopped.  Finally, at age 33, I met with a different attorney and created a will, trust, power of attorney, healthcare directives, etc.

So, I've had everything in order since age 33.  I figured Jesus didn't live past 33, so what makes me think I could? 

[+ purplekow]

I think simplifying is a good idea.  When I moved from NJ to PS, i did get rid of a lot of stuff but not nearly enough.  Now that I am settling in here, there are items that I have not unpacked and clothes which I have not worn.  The next time my regular guy comes by for a three day stay, one of the things we will be doing, besides each other, is unloading a lot of this stuff.  It is not really an escort experience, but it is a boyfriend experience of a very real kind.  

[samhexum]

With my luck I'll just keep going on and on for far too long and will have had to sell everything I own by the time I die, so unless my niece and nephew want the refrigerator box I'll be living in I don't feel the need for estate planning.