That's a comforting thing. I know that I am leaving enough behind for my loved ones to be just fine. I've set it up so that the next few generations should do fine, all the way around. I've also left it so that it can last far longer than a few generations if they're smart about it.
The only thing I have to leave my kids are my worldly possessions. That includes our home that does not have any mortgage or liens on it. I actually was thinking about putting the home in their names and not mine so they won't have any issues maintaining ownership when I do go. It's not a fortune but it still will help them somewhat as they go through their lives
Yeah, I have a lot to leave my kids - including having ensured they knew how to be productive, happy, and healthy adults. So, I was able to make sure of that. There's the material wealth, but that's only going to last a few generations unless their kids are smart about it. If they're smart about it, it'll be at least a leg-up for generations to come - things like paying for any heir's college while giving them a stipend during school.
And, yes... DEFINITELY add (don't take your name off) their names to the deed ASAP. Otherwise, it requires going through probate and all that shit/expense. If their names are already on the deed, it doesn't matter that you kick the bucket. They each get an equal share of the estate.
Do it today. Well, do it tomorrow. Do it as soon as you possibly can.
Otherwise, it's gotta go through probate - even if everyone is in agreement. That can be a bit pricey, depending on where you live. It's usually just a few hundred bucks. But, it also gives people the chance to argue - right or wrong - that they should have a piece of the action.
Giving them free and clear property is awesome, by the way.
Don't put yourself down - not even in the slightest. Leaving lien-free property is fucking awesome. If nothing else, assuming they're not stupid, they'll always have a roof over their head.
I wasn't putting myself down. I will look into what I need to do to get their names on the deed tomorrow. I want things to be easy as possible for them when the fateful day does come.
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