It’s not a fun topic, but one I’ve thought about many times. There’s no legality in this post, but since I don’t actually have one yet, this might be a good start. No real names disclosed here, but if you know me, you can probably guess what they mean.
- 40% The H’s, mainly for the use of school for the 2 girls.
- 30% The V’s – I hope they can use that to fund their downpayment for their own place (10%) and for C’s college (20%).
- 10% for Brownie’s care.
- 10% for my Alma Mater.
- 10% for my family, since they really have enough money already, I don’t think they need it.
Eventually I’ll work on solid numbers, but for now that’s a good starting point I guess.
Zee
June 9, 2010 at 8:49 am
1. In some states you can’t leave money to pets; you might have to create a trust, which is usually not worth the expense if below $100ks.
2. Remember you have to pay off the debts first.
3. Include how you want to be buried.
4. Include guardian for kids in case spouse (or whomever) dies before you.
Good luck – glad you’re doing this; so many don’t!