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Financial planning after I'm dead

Discussion in 'Non-Vegas Chat' started by Joe, Aug 26, 2013.

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  1. Joe

    Joe VIP Whale

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    I read an article about what happens when the spouse (me) who handles all the financial decisions suddenly dies.

    So we are that point that my wife has every log in and password for every account. She knows where the cash is and the checkbooks to get immediate cash.

    All our assets are in a trust.

    I have handled the taxes for the 32 years we have been married. How do you go about finding a trusted tax adviser? I've always done them myself.

    We have Wills, DNRs, power of attorney and health care statements.

    What other things should I be considering to get her info on? No kids.

    I am just trying to make sure she has all necessary information if something would happen to me. Don't worry, I plan on at least a couple of decades or more of Vegas visits. The doctor didn't tell me to get my affairs in order.:evillaugh:evillaugh

    I know VMB probably isn't the place to be asking, but what the hell, we run the gamut here from some very wealthy to just working stiffs, so just looking for ideas on things I might have overlooked.
     
    Christmas
    My wife's birthday
  2. VegasBJ

    VegasBJ VIP Whale

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    Joe, I will send you a PM
     
  3. Joe

    Joe VIP Whale

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    Got it BJ, thanks! :thumbsup:
     
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  4. mdee

    mdee VIP Whale

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    Do you have a link to that article? My friends parents are in their 70's and not in the greatest of health.
    She's been pushing them to get their affairs in order. If there's a link out there I'd appreciate it.
     
  5. Joe

    Joe VIP Whale

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    It's from Vanguard and of course they are saying they can help with the transition, but it still motivated me to provide my wife with a few details I missed when I sent her all the info the first time around.

    https://personal.vanguard.com/us/insights/article/spouse-manage-portfolio-082013?opentranscript=true
     
    Christmas
    My wife's birthday
  6. shifter

    shifter Degenerate Gambler

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    yeah, I haven't done a good job of this. I handle everything and my wife knows almost nothing about where anything is or what to do if something happened to me. I have thought about it, but just haven't put anything in place. it's likely it won't be an issue for a long time, but I really should get things together just in case.
     
  7. Joe

    Joe VIP Whale

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    It took me years to get my wife to finally go and have Wills and the Trust drawn up. She just doesn't want to deal with these kind of things.

    To force myself to get her all the info she would need, I keep telling myself, what if I died suddenly tomorrow. She may not like it, but at least the info is on her hard drive for reference. And man, there sure is a lot of stuff to consider.

    It's a weekly routine for me just to check accounts, credit card charges, auto-pays etc, but for someone who has no interest in dealing with any of this, it could be a disaster w/o the info to at least begin to know where to start.
     
    Christmas
    My wife's birthday
  8. Sonya

    Sonya Queen of VMB

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    I'm going through this with my parents right now. She's 70, he's 77 and she hasn't done the banking for about 50 yrs. I'm trying to teach her to manage their money now that dad's health is failing.

    Good for you for taking care of it before it's too late.
     
  9. HoyaHeel

    HoyaHeel Grammar Police & Admin

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    We sort of know the basics for each other (though every week my husband calls to me from the other room "honey, what's my banking password" :evillaugh) He has gone through the wills & trusts & family corporations with his parents and we talk about doing our own, just to get started with something basic. It's crucial. Thanks for bringing up the topic!
     
  10. Joe

    Joe VIP Whale

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    Our joke is, you never know when you might get hit by a bus. :poke:
     
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  11. LucyR.

    LucyR. VIP Whale

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    Hello Joe

    I recently had a dream that I got hit by a big long-haul MACK TRUCK!

    I always joke that my adult son and his wife and my adult grand-kids threw me
    under the bus and the bus had snow tires. The reason I say that is because they
    never return my calls or e-mails. They never visit me and that has been going on
    for years now. My daughter-in-law doesn't like me. She doesn't like her own mother. I recently decided to make a will with my two favorite nieces are on my inheritance
    list. My favorite niece will make sure that I am well taken care of in my future.
    I don't plan to leave my adult son nothing since he has chosen to be mean like his wife towards me. All he has to do is to come back into my life and I will include him
    on my WILL. "I will then ask him "who are you"? lol.

    I have been feeling a lot better since I made my WILL.
     
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