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Most retiree's are on fixed incomes, and its during this time we have to give serious consideration to our future, what there is of it. The $11 grand was an inheritance not expected, would Mom really miss it? At this point, isnt paying down the house and taking care of her burial more important than to splurge a little? Like the rest of us, we dont want to leave this earth leaving our kids to pay for our debts, burial, or contend with probate, death taxes, etc., which may diminish any inheritance we wanted to leave them. One way, is to develop a trust in which Mom signs the house over to all surviving children, each is an equal owner, (requires an attorney) with the provision she is able to reside in the home, maintain it, pay the taxes, and bills associated with it, until she passes away. I dont know the name of this trust, but the description Ive added should help when inquiring. Ive many friends do this and its worked very well for all. As for burial insurance, contact your/her insurance agent. He will help Mom make the best choice for her situation. (I went through my private supplemental insurance company for the best price.) My checking account has one of my children as a power of attorney listed, so that person can, upon any unfortunate circumstance, or my death, withdraw needed finances for healthcare, or the remains from that account after death. Mom really needs to talk to an attorney regarding the above mentioned. The object is to get Moms name off as much as possible, yet protect herself, and gaurantee her wishes. The more strings we can tie up now, the less problems in the end. If done right everything will flow smoothly during a very difficult time for the survivors. I would also suggest inquiring about pre-planning your funeral. Recently, I heard one can do this with no money down, but your plans are kept on file for that day. Mom selects everything, knows the costs, plus, the survivors are not affected with that added stress during the time of grieving.
Chris, I am growing tired of you playing Cheerleader for the Federal Reserve. Have savings in Dollars? Not for me. The Federal Reserve as "Federal" as Federal Express will continue to print the "Owe"bama bucks to fill in the gaping hole of the USS Titanic. The ship is sinking and people like Ron Paul and Peter Schiff are telling people to get their savings into gold and silver and out of the dollar. Very few will listen. More will listen to your non-nonsensical propaganda rants. This is unfortunate.
If something is non-nonsensical, wouldn't that mean that it makes sense?
momof4wi: a Living trust.
The living will idea is a sound one. This is especially true if mom ends up in a nursing home. If there is no living will, the nursing home is likely to take the house, i.e. sell the house to pay for her care. Then, there will be no estate to pay for her funeral or reimburse family members as you suggest.
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