Reverse mortgage for escort services

[+ purplekow]

I received a text today from a friend who was recently divorced and has decided to retire to enjoy the single life.

This sounds like a great idea, but the fact is that as hiring escorts is my main manner of obtaining sexual gratification with another person (masturbation still runs at #1 over all) i am not sure I could maintain a satisfactory hiring life if I retired.

This is not a post to get ideas on how to get more free sex, rather, this is a post to see if this idea is too out there.

At this point in my life, I have much more life insurance than I need. My wife has passed. I have no children. i have one or two needy relatives who I like and to whom I would like to leave substantive inheritance, but as to the rest, they may want more but I see no need to give them any. So it will be easy to continue to have two of the policies with those relatives as beneficiaries. I would divide my other worldly goods, such as they are, to friends and charitable organizations and of course, I would leave enough behind for the care for my dogs.

That still leaves me with one paid up life insurance policy for about $500K and really no obvious recipient.

Now my liquid assets should keep me comfortable as long as I die before I get uncomfortable. I could cash the policy and use it for mad money.

Or perhaps, there may be an escort who would offer services against the eventual inheritance of that policy. Now I hate being worth more dead than alive to anyone, as it seems to give someone another reason to want to see me dead, other than the usual ones. But still, this idea holds some attraction for me.

So, does anyone out there think that a well crafted contract with an escort to supply agreed upon services at an agreed upon maximum frequency, which would be paid off at the time of my passing by the insurance policy, is a tenable situation. I know some will dismiss this right off. Some will offer arguments why it is a bad idea for me or for the escort. But, really what I would like to know, if anyone thinks this could work.

No need to preach about changing desires and such.

[rossthebosssf]

I think this is a great idea, but wouldn't you get tired of the same escort over time? As an escort, this could be just a small investment of time. If it's a variable annuity (I believe that's the one), it could have potential for a bigger payout. Problem is, so many what if's could occur over the next several years on both sides.

[LaffingBear]

I like the idea... dont know if it could be crafted.

 

But why limit yourself to escorts? Seeking arrangements? Gaymillionaires.com? Use a yenta?

 

"I never saw a purple cow, but now I might just do it. Because he signed the papers to...ensure I will inherit."

[+ quoththeraven]

Who do you expect to draw up this contract? The kind of lawyer who would happily do that is probably not the type of lawyer you want. There is no valid consideration.

 

Not that the parties would complain about it, but it could be challenged in probate and has gift tax implications if it's structured as such. The escort would be silly to agree.

[KeepItReal]

I received a text today from a friend who was recently divorced and has decided to retire to enjoy the single life.

This sounds like a great idea, but the fact is that as hiring escorts is my main manner of obtaining sexual gratification with another person (masturbation still runs at #1 over all) i am not sure I could maintain a satisfactory hiring life if I retired.

This is not a post to get ideas on how to get more free sex, rather, this is a post to see if this idea is too out there.

At this point in my life, I have much more life insurance than I need. My wife has passed. I have no children. i have one or two needy relatives who I like and to whom I would like to leave substantive inheritance, but as to the rest, they may want more but I see no need to give them any. So it will be easy to continue to have two of the policies with those relatives as beneficiaries. I would divide my other worldly goods, such as they are, to friends and charitable organizations and of course, I would leave enough behind for the care for my dogs.

That still leaves me with one paid up life insurance policy for about $500K and really no obvious recipient.

Now my liquid assets should keep me comfortable as long as I die before I get uncomfortable. I could cash the policy and use it for mad money.

Or perhaps, there may be an escort who would offer services against the eventual inheritance of that policy. Now I hate being worth more dead than alive to anyone, as it seems to give someone another reason to want to see me dead, other than the usual ones. But still, this idea holds some attraction for me.

So, does anyone out there think that a well crafted contract with an escort to supply agreed upon services at an agreed upon maximum frequency, which would be paid off at the time of my passing by the insurance policy, is a tenable situation. I know some will dismiss this right off. Some will offer arguments why it is a bad idea for me or for the escort. But, really what I would like to know, if anyone thinks this could work.

No need to preach about changing desires and such.

I don't know...the idea of being worth more dead than alive bothers me for some reason, especially if you interject a third party. Do you plan to start sleeping with your one eye open? How would you structure the agreement...the escort gets paid only if you die from old age perhaps, but not if you slip in the shower or fall down a flight of stairs where foul play could be involved? If I had the policy paid up, and wanted to utilize some of it today, I would rather consider a life settlement of some sort (assuming the settlement is larger than the cash buyout). Then I would invest the money and just pull cash out as I need it to pay an escort (or three) if and when the need arises. If you do find an escort that stick with you to the end, you can always leave the remaining money to him by assigning him as your beneficiary for the account (payable on death account). Honestly, 'pay as you go' is probably the only way to go.

[+ DERRIK]

Maybe we use Michael Cohen to write up this legal agreement

[+ Avalon]

With that much money you could hire someone for an exclusive relationship.

 

Would an escort consider that?

[Walker1]

So, does anyone out there think that a well crafted contract with an escort to supply agreed upon services at an agreed upon maximum frequency, which would be paid off at the time of my passing by the insurance policy, is a tenable situation

You cannot enforce any contract with an escort? Plus how would he know you won't change the beneficiary from him to your neighbor's poodle?

 

Why not cash the insurance and hire whoever you want?

[instudiocity]

The biggest issue I see is said provider needs not the fortunes in the sweet by and by, but CA$H now.

[Walker1]

Perhaps teach English in Thailand and enjoy the "sights"?

[Beancounter]

At first I was going to offer up my expertise on your proposal but then decided against it. When it comes to money the only advice I pass out anymore is.....You earned it and you’re entitled to do with it what you want. Buy pistachio nuts if you want.

[+ sync]

I can't get enthusiastic about this concept. Just too many ifs for me.

However, if you find someone desirable and compatible, let the good times roll.

[+ PapaTony]

Other options?:

 

https://www.masonfinance.com/sell-my-life-insurance/?gclid=EAIaIQobChMI4LLNgOya2wIVi7xkCh3pDwijEAAYAiAAEgILwfD_BwE

 

https://www.sellyoursurvivorshiplifepolicy.com/?gclid=EAIaIQobChMI4LLNgOya2wIVi7xkCh3pDwijEAAYASAAEgK_cPD_BwE

 

https://www.aarp.org/caregiving/financial-legal/info-2017/insurance-life-settlements.html

 

https://www.nerdwallet.com/blog/insurance/considerations-when-selling-life-insurance-policy/

[Kevin Slater]

I doubt there's any way to construct a contract that would protect both your and the competing escort's interests. I'd want it to somehow be irrevocable, but then how could you enforce performance?

 

Kevin Slater

[Kevin Slater]

Plus how would he know you won't change the beneficiary from him to your neighbor's poodle?

 

What's this poodle have that I ain't got?

 

Kevin Slater

[+ bashful]

I've always thought of life insurance as something to protect those currently in your life who are financially dependent upon your income. If your wife was the only reason for insurance, you no longer need it. Stop paying the premiums. I was in the same position, and stopped paying premiums when I retired.

 

If policies are paid up, then it's yours to do with to make your life happy.

 

A big reason for my dumping life insurance, is that I didn't like the idea of me continuing to pay premiums just so others, not financially dependent upon me, could "win the lottery" when I died. I thought about charities, but thought it be easier to spend the premium money directly on the charity.

[+ tassojunior]

I would cash out in your case but I'm not in the same situation so I am doing what you want to.

 

I opened this because it mentioned reverse mortgages. Most of my assets (1.6mil) are tied up in my house but it's also got 3 rentals earning me an easy $8000/mo plus my place free so I'm sort of in golden handcuffs. My cousin just put her beach house in the Keys up for sale for $700K and it's tempting but yep......golden handcuffs. I did take a small (200K) reverse mortgage but that was silly and I wouldn't necessarily advise one.

 

One of my partners for 2 years is a 35 yr old single dad of two and I've assumed I'd leave it so he gets everything. He knows this but lately he's become a born-again-heterosexual with a rich gf. I've got a 25 yr old visa-problem immigrant too now so things may change. Wills in your own handwriting with two witnesses are fairly easy to work up and change as circumstances change. And one constant you can depend on in life is change.

[+ quoththeraven]

Wills in your own handwriting with two witnesses are fairly easy to work up and change as circumstances change.

Seems to me that it would be even easier to produce and change on a computer. A handwritten will can't be edited; you would have to rewrite the whole thing anew.

 

If you're only changing the beneficiary, a codicil might be used, in which case there's not much difference between computer-generated and handwritten, but after the first, codicils become confusing.

[maninsoma]

I'm confused by the title of this thread compared with the content of the first post. Based on the title, I thought it might make sense for someone who owns his home to get a reverse mortgage in order to have more money to have fun while still alive. If you don't care about passing any assets on upon your death, why not spend more during your life?

 

But the suggestion in the OP is not to actually obtain cash to pay for fun now. It's to basically write a promissory note to an escort that he will be paid at some point down the road, that point being the OP's death. What escort is going to agree to that? Even if the escort trusts that you won't change your will at the last minute to name a different beneficiary it would require the escort to work for no payment for the foreseeable future and could easily be challenged in court after your death by any remaining relatives. Is an escort going to want to engage in proceedings challenging the will when that involves him revealing what sort of services he provided in order to be named as a beneficiary?

[LoveNDino]

Why not get married to the escort with a pre-nup?

[+ ArVaGuy]

I wouldn’t enter into an agreement with anyone involving such a payout from insurance or other investments. But I watch too much of Investigation Discovery.

 

I would advise discussing options with your financial planner. Perhaps you can borrow against the policy value and set up a stipend or something for yourself. Then use that to travel and hire all the guys you desire.

[+ Pensant]

I’m amazed that some contributors volunteer so much personal financial information. I’m very close-mouthed about my financial situation. Perhaps I’ve always been too cautious.

[+ tassojunior]

Seems to me that it would be even easier to produce and change on a computer. A handwritten will can't be edited; you would have to rewrite the whole thing anew.

 

If you're only changing the beneficiary, a codicil might be used, in which case there's not much difference between computer-generated and handwritten, but after the first, codicils become confusing.

 

"Holographic" wills are given much more weight because proving who wrote one is the major issue. In some states they don't even need witnesses at all and 2 witnesses is just added. Every state is different on holographic wills. Of course someone must execute the will so that takes fees while joint ownership is simple.

[+ tassojunior]

Why not get married to the escort with a pre-nup?

 

Be wary of pre-nupts ! Many courts don't like to enforce them. There's an assumption the marriage would not have gone ahead without one which many courts consider coercion. Both sides have to have their own lawyers drawing them up, etc. Almost married with one then found out how troublesome and iffy they are.

[+ quoththeraven]

"Holographic" wills are given much more weight because proving who wrote one is the major issue. In some states they don't even need witnesses at all and 2 witnesses is just added. Every state is different on holographic wills. Of course someone must execute the will so that takes fees while joint ownership is simple.

So basically it's a matter of having a more extensive writing sample and in some cases not needing a witness. Someone who signs later isn't a witness; I can't tell what you mean by "just added."