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Old 04-28-2023, 06:59 AM   #25937
Hondaracer
I have named my kids VIC and VLS
 
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In regards to not hurting your dieing parents feelings in discussing finances while they are on their way out. Let’s look at a conservative estimate

Say they own a 2 million dollar home, whether it’s full of egg cartons or not, we’ll say it’s worth 2 million. They don’t want a will because even though they are 85 and chronically ill, they don’t want to discuss their mortality.

By having no will you are subject to a $200,000 loss financially in fees, administration, and poorly handled asset transfer taxes etc.

$200,000 without even compounding your gains, at a modest 7% return more than doubles in a 20 year span, you’re looking at turning that $200,000 into 600,000 in 20 years.

So I’d say yea.. given the state of the world and given how hard it is to get a leg up, and how much harder your children’s lives are going to be, broaching those subjects with a dieing parent IS worth upsetting them in their dieing days in order to create a hugely beneficial scenario for your own family moving forward.

Tbh kind of to westophers point before, these are the type of people who don’t deserve what they ultimately ended up receiving for no reason other than luck.
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