Can anyone give information on what to do after mothers death?

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  • Indy317

    Master
    Rating - 100%
    1   0   0
    Nov 27, 2008
    2,495
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    All I ask is that everyone make a list of their banks, accounts, monthly bills, etc so that if you aren't able, it is 10,000 times easier for someone to step in and do it.

    To take that one step further, if you know you are terminally ill or up there in years, get your childrens names added to your bank accounts, lock box and any bills you may have. That will allow them to do stuff without a power of attorney. My wife's name is on all of my accounts, be it checking, savings, cd's or whatever.

    In addition to the above, you need to make very, very specific instructions on the dispersion of property. My family had the last elderly relative pass away a while back. The problem is that some family members will just start offering certain furnishings (pots, pans, food, bedroom sets, etc.) to others. My relative had a very good will and such and the executor made sure things didn't get out of hand. They ended up putting prices on everything in the home. If the kids didn't want it, then it was offered to all the grand kids at that price. If two or more people wanted something, there would be an auction so to speak.

    If you really, really want to prevent _any_ possible fighting (which can get really, really ugly), you need to specifically list all the property, the min. value that the estate should receive for it (don't be greedy, say you have an AR 15 that was $800 when you purchased it. Even if the same rifle would go for $1,000 today, list it for $600 and be done with it). If no one wants the stuff, or there is a disagreement on who should own it, then write in the will the person who offers the most, say in $25 increments, gets it. While it seems petty, good families have been torn apart from stuff like that. If your kids fight over petty stuff already, I would say screw them all and leave nothing for them specifically. State that all items are to go to an auction and if one or more of the kids wants something, they need to bid on it along with the general public.
     
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