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Singles face unique challenges in the money game.

Since I'm frugal and working hard at saving I hope to accumulate some wealth (my house is already paid for) so in my case my dilemma is this: who do I leave my money to when I die? Right now, I'm in my mid-40s and don't have a will, not because I don't realize I need one, but because I can't decide what to do with my money.

Because I don't have kids, I guess I have to look to the larger family circle. But man does that get messy. If I had a couple of kids I'd leave them my money equally, no brainer. But because I have a dozen nieces and nephews, does that mean I have to leave them money equally? What if I'm closer to some family members than others, do I reflect that in my will? What about brothers and sisters, or do I just assume they are more settled financially and focus on the younger generation? I tell ya, just thinking about all this gives me a headache.

About the only other plan I can come up with is to leave it to charity (I have at least 2 in mind) but I don't want to do that with ALL my money. But if I leave it to any individual, I would want to leave it someone who is going to use it wisely...it would absolutely make me ill to leave it to a spendthrift and have them go through my life savings in a year, kwim?

So...just wondering...if any other singles are struggling with what to do with their money after they pass away?
 

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I am not single but adding my two cents..... If it can't be split equally between neices and nephews, then I go with leaving it to charity.
 

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My youngest brother is a real tight wad! Nevertheless, I'm thinking of dividing my assets, whatever they may be on my final day, equally among my siblings.
 

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DH and I aren't having kids, so we're not much different from singles in this dilemma.

Our assets will be split among 3 animal welfare organizations.
 

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I'm planning of leaving it -- if there is anything left at all which is doubtful unless I am taken out suddenly in an accident -- to an organization that I have close ties to. I was just thinking the other day that I need to update my will to make sure this happens.
 

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Not single but have no children......

DH-first

Sister-2nd, (she will split that between 2 nephews, 1 neice)

JMHO, I would leave it to whom you want to and not tell anyone it's not there business only your own.

leezza
 

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Singles face unique challenges in the money game.

Since I'm frugal and working hard at saving I hope to accumulate some wealth (my house is already paid for) so in my case my dilemma is this: who do I leave my money to when I die? Right now, I'm in my mid-40s and don't have a will, not because I don't realize I need one, but because I can't decide what to do with my money.

Because I don't have kids, I guess I have to look to the larger family circle. But man does that get messy. If I had a couple of kids I'd leave them my money equally, no brainer. But because I have a dozen nieces and nephews, does that mean I have to leave them money equally? What if I'm closer to some family members than others, do I reflect that in my will? What about brothers and sisters, or do I just assume they are more settled financially and focus on the younger generation? I tell ya, just thinking about all this gives me a headache.

About the only other plan I can come up with is to leave it to charity (I have at least 2 in mind) but I don't want to do that with ALL my money. But if I leave it to any individual, I would want to leave it someone who is going to use it wisely...it would absolutely make me ill to leave it to a spendthrift and have them go through my life savings in a year, kwim?

So...just wondering...if any other singles are struggling with what to do with their money after they pass away?
i think it would be easier for the person who handles your estate to leave it all to one deserving person. that's what i plan to do.
 

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Married, but no children here. We haven't put anything formal in writing yet (probably should) but this is what we have loosely planned. Most of the cash if there is any left will go to charity. An as yet undecided amount will go to the niece or nephew who handles our estate. We are also planning for the care of our pets when we are no longer able to care for them. We do not want them going to the shelter. Money will be provided for their care, but the friend or family member taking them won't get rich.

We don't have a lot of personal posessions. We have some things that will go to museums and the nieces and nephews will get the things that need to stay in the family. But we will probably take care of that before we die -- I like the idea of passing those things down in person along with the story that goes along with the items.

We have a few other things like original artwork, book royalties, etc. that we aren't sure of yet. I'm imagining they will go to charity but not sure.

Even when we do get things put down in writing we realize that circumstances change and a will would need to be updated.
 

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My will currently leaves all my money to my mother and my property and animals to my best friend. I update it about every five years, and obviously will update it if my mother or friend passes before me. My only problem is that all my family and friends are significantly older than me, so the likelihood, barring disease or accident, is that I'll outlive them.

I am considering donating my property (ten acres, hoping to make it twenty when my idiot neighbor moves) to a wildlife refuge or some other sort of nature conservancy. I am on the outskirts of Sacto, and this is one of the few local areas left where you can still see deer and turkey hanging out.
 

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Right now our will (DH and I do not have kids) specifies my parents and 1 animal welfare org.
If my parents pass before DH and I, it will be my sister and her sons and 1 animal welfare org.
If my sister passes before DH and I, it will be my nephews and 1 animal welfare org.
 

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I'm single and have divided my assets between my neices and nephews, brothers and sister. But in no way, did I divide it evenly. I'm leaving more to the neices and nephews who stay in touch with me and are close. Same with siblings.

I also said in my trust that no one gets to know what everyone else got and if anyone raises a fuss, they get nothing. Attorney said that's the best way to do it.

No reason in my mind to have to leave things equally split among everyone. Far as I'm concerned, it's my money, so I can leave it as I choose.
 

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I am leaving it all to charity. :cowwave:
 

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I need to make a will. What I want to do is set up a fund to assist any niece or nephew (or great niece or nephew) who is going to college.Dependng on what is available, they could get a % of a grant (amt is tuition or limit set by fund manager) depending on their grades. 25% for a 1.0 (D's), 50% for a 2.0c's), 75% for a 3.0(B's) and 100% for a 4.0(A's). Living expenses would be on them and their parents. I would like to reward those who are working to better themselves and encourage a few to go to college.
 

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Throwing in my 2 cents - I am firmly in favor of giving things to people before it becomes a bequest. If you would like to help a younger generation (or specific members of it) go to college, then do so. Make sure you reserve a resonable quantity for your own needs in aging, but if you truly have a generous amount, then why not be generous with it while people can express their apreciation to you? I had a great aunt that would occasionally take one or another of us on rather fabulous trips - they are among our best memories of growing up. In retrospect I think it might have been nice if my mom had received an occasional lump sum to help put groceries on the table, but I don't think it ever occurred to Auntie that we might actually be going hungry. It did occur to her that if she took us someplace extremely different than our home environment, she would probably have to equip us to go, so often our "dress-up" clothes came with the territory of being taken to an elegant environment. I don't think bequeathing us funds 20-30 years later would have had the same effect at all.
 

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Not single but have no children......

DH-first

Sister-2nd, (she will split that between 2 nephews, 1 neice)

JMHO, I would leave it to whom you want to and not tell anyone it's not there business only your own.

leezza
i agree, just because they are your family doesn't mean they are entitled to your money. JMHO.

Mine is

Sister
church
and pet organization
 

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They only assets I have that don't have a lien are the furniture and my car. My mother is my beneficiary on my insurance policy. It's very cheap and just enough to bury me. When my house is paid off, my mother will be too old to handle my affairs so I will probably leave everything to my nieces.
 

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I have mine going to my brother. I actually have two brothers, but one moved to Washington and doesn't keep in touch :doh2:
 

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previously everything was going to my sister, but now that I'm adopting, everything will be left to a trust for my child.
 

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Before I got married, everything was going to my parents, who would probably have transferred most of it to my sister. If I remained single, and my parents passed, I would probably just have it given to my sister.
 
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