Plans for the future - getting old- worry or otherwise

[3offTheTee]

This will not apply to everybody on here- yet!

Just hit the magic 70 and have made plans for future, wills for both of us, house in 4 names as tenants in undivided shares etc.

However our 3 kids are abroad in Spain Australia and New Zealand and no chance of returning, nether of us have any brothers or sisters although our son in Spain said we can go and live with him.

Main concern is healthcare, going into a home, having to pay with sale of house. House is reasonable size but really not worth downsizing to realise capital. Also uncertainty what Government plans for the future with care homes.

What plans have you made and any thoughts/help would be appreciated.

 

[HomerJSimpson]

None. Nothing planned at all. Really need to get a will sorted. Only me and HID (I have no parents or other brothers and sisters) so everything going to the wife. She has a sister in San Diego and both parents alive so not sure what her intent is. If/when I get to retire I'd love to be able to downsize and move somewhere nice. We've both had a hankering for the Salisbury area but I guess that depends on so many factors.

 

[USER1999]

Wrote wills years ago. No one particularly to leave anything to, so my sisters kids will get anything left. Put money into pension schemes and ISAs but they are not doing much.

 

[Deleted member 16999]

I would politely suggest everyone should have/do a will, regardless of your age.
For your sake and the sake of those left behind.

 

[PJ87]

I would politely suggest everyone should have/do a will, regardless of your age.
For your sake and the sake of those left behind.

Doesn't cost the earth either

I got a free one via my union and they did one for my wife for £100 ISH

Sorts out who looks after our daughter should we die and what she gets from us

 

[Deleted member 21258]

Yeah , definitely make a will, its for your wishes and how you wish to split up any monies left.

Don't leave baggage to the will, front it out before dying, if you wish to not split stuff equally. Been caught up in that and its just so wrong.

Mine will go to wife(she deserves it, for putting up with me and I would wish her to be looked after the most, as she is number 1), and if wife dead, then equally to our two adult children.

Failing that get spending, you cant take it with you when you die and whatever you leave to the benefactors, is a bonus. Treat them well, whilst alive and as you can.

Cant base anything around(in my eyes, plenty will disagree tho), fighting the government{as it is always subject to change) and sometimes you need to ensure you (plus wife) are looked after, as number 1s.

Going to spend mine all on golf memberships.

Good health to you and many more years to come Mr 3offthetee

 

[Deleted member 16999]

Doesn't cost the earth either

I got a free one via my union and they did one for my wife for £100 ISH

Sorts out who looks after our daughter should we die and what she gets from us

You can get them from WH Smith or online or via Solicitors, unfortunately experienced some horror stories when Soldiers died without leaving a will.

 

[patricks148]

I thought the answer was "get Brexit done"??

 

[SwingsitlikeHogan]

Feeling that I'll be able to tell my 90yr old MiL that she needn't worry about having to sell her house to pay for care costs if she needs to have care in the coming years - because the Prime Minister has said that no-one will lose their house to pay for care ... jolly good that the state will pay. Then when she goes my Mrs will have half of it - nice one Mr Johnson

 

[Swinglowandslow]

None. Nothing planned at all. Really need to get a will sorted. Only me and HID (I have no parents or other brothers and sisters) so everything going to the wife. She has a sister in San Diego and both parents alive so not sure what her intent is. If/when I get to retire I'd love to be able to downsize and move somewhere nice. We've both had a hankering for the Salisbury area but I guess that depends on so many factors.

Traffic in Salisbury is murder whenever I've been there?

 

[Fade and Die]

Feeling that I'll be able to tell my 90yr old MiL that she needn't worry about having to sell her house to pay for care costs if she needs to have care in the coming years - because the Prime Minister has said that no-one will lose their house to pay for care ... jolly good that the state will pay. Then when she goes my Mrs will have half of it - nice one Mr Johnson

Blimey what an attitude!......Sounds like you can't wait!

 

[Swinglowandslow]

You can get them from WH Smith or online or via Solicitors, unfortunately experienced some horror stories when Soldiers died without leaving a will.

Beware doing a will yourself - those do it yourself from w.h. Smith types, etc.
What you think you are writing is not necessarily what the law says you wrote.
Knew a lady whose aunt did her own on a w h smith formSaid she left all her personal property to her and three others, to be shared. Aunt thought that included her house. In law, it didn't. So the house went to her NoK, her estranged husband, the last person she intended to get anything..

So, bite the bullet and use a real solicitor, is my advice.

 

[Deleted member 16999]

Beware doing a will yourself - those do it yourself from w.h. Smith types, etc.
What you think you are writing is not necessarily what the law says you wrote.
Knew a lady whose aunt did her own on a w h smith formSaid she left all her personal property to her and three others, to be shared. Aunt thought that included her house. In law, it didn't. So the house went to her NoK, her estranged husband, the last person she intended to get anything..

So, bite the bullet and use a real solicitor, is my advice.

Even ones by solicitors can be challenged if those left behind are inclined.
Point is, regardless of how/why etc, everybody should have a Will, imo.

 

[Crow]

Will already written.

Health okay at he moment but I shan't be going into a home.
I'll do my best to remain active and fit.
If health deteriorates badly enough, I'm already on quite a lot of medication so I like to think I'll just stop taking some of it and peg out quickly, but the will to survive is a strong one so who knows what I'll actually do when that time comes.

Merry Christmas everyone!

 

[USER1999]

Oh, and being an executor is a pita. Cite a solicitor as exec. It might cost a bit, but you are dead, so who cares. The poor bigger who has to do it as familly has a heck of a task on. I am still involved 2 years on, and clearing the house, selling it, the cars, etc was brutal at a time when I wanted to be doing anything but.

 

[Jamesbrown]

Will written. I’ve no intention of going in a home, no intention of suffering or passing the suffering on.

 

[williamalex1]

We had our wills drawn up years ago, even picked the songs for both our funerals. Our thoughts were that who ever survives gets everything. Then probably sell the house and contents , downsize or move in with family or perhaps rent privately. Money in the bank will be divided as stated in our wills, but only when both of us are deceased.
TBH we haven't considered the possibility of one of us having to go into care.
I ask if she would give my clubs to her new partner if she got one, she said no " he's left handed ".
the old ones are the best

 

[USER1999]

The other cheerful thing to consider is lasting power of attorney. I have it for the Mrs, she has it for me.

Merry Christmas all.

 

[Smiffy]

I just hope that when I pop my clogs my Missus doesn't end up selling my fishing gear for what I told her I paid for it.......
Somebody will get a stonking bargain

 

[Hobbit]

Wills were done long ago. Funeral plans long since sorted. Too busy enjoying myself to fit in dying.