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Posted on 6/6/26 at 10:47 pm to lsu xman
$2.5MM with wife as primary bene.
Posted on 6/6/26 at 11:18 pm to zippyputt
Of course it does. If a beneficiary has already passed, the probate court will rework the entire distribution scheme if necessary.
Similarly, if a prior spouse, now divorced, was listed as the beneficiary of a bequest and a subsequently revised will says otherwise, the divorced spouse is cut out. Same with pretermitted heirs and so on.
Similarly, if a prior spouse, now divorced, was listed as the beneficiary of a bequest and a subsequently revised will says otherwise, the divorced spouse is cut out. Same with pretermitted heirs and so on.
Posted on 6/6/26 at 11:34 pm to Hondo Blacksheep
Laddered policy on me over 20-30 years. Policy on my wife as well. I have a policy through work as well but it’s not part of the decision criteria.
Goal is my dependents get to live life without financial stress if I were to pass.
Goal is my dependents get to live life without financial stress if I were to pass.
Posted on 6/6/26 at 11:42 pm to Hondo Blacksheep
quote:
Keep in mind your trust and will papers will trump the beneficiary designations in your insurance contracts.
Wow
How can you make such an ignorant statement
Life insurance contracts and the proceeds completely bypass probate and pass directly to the named beneficiary.
This post was edited on 6/6/26 at 11:45 pm
Posted on 6/6/26 at 11:43 pm to lsu xman
quote:yes
Do you have life insurance?
quote:SuperSaint
Who is the beneficiary?
Posted on 6/7/26 at 12:40 am to lynxcat
That is an admirable goal, which I fully respect and understand.
You really need to go see a legitimate trust and wills attorney and explain everything and update your T & W.
It will paper over existing holes in your estate and inform your senior-years insurance options (not trying to sound grim or anything, but all of us producers are worth more dead than alive).
You will rest easier, and unless your situation is unusually complicated you should be able to get everything squared away for a few thousand dollars.
When the good Lord calls you home, you will close your eyes knowing you settled the books and left everyone set up as best you could; in my mind it is a fitting conclusion to a hard-working life well spent.
You really need to go see a legitimate trust and wills attorney and explain everything and update your T & W.
It will paper over existing holes in your estate and inform your senior-years insurance options (not trying to sound grim or anything, but all of us producers are worth more dead than alive).
You will rest easier, and unless your situation is unusually complicated you should be able to get everything squared away for a few thousand dollars.
When the good Lord calls you home, you will close your eyes knowing you settled the books and left everyone set up as best you could; in my mind it is a fitting conclusion to a hard-working life well spent.
Posted on 6/7/26 at 2:00 am to Disco Ball
If the will is contested, a prior beneficiary is deceased or a divorcee, you are headed to probate. That's all I'm saying. Clean up your affairs so everything is how you want it to go.
In an even nominal estate of $1-2 million people will lose their fricking minds trying to get their piece of the pie.
In an even nominal estate of $1-2 million people will lose their fricking minds trying to get their piece of the pie.
Posted on 6/7/26 at 2:18 am to lsu xman
40. Single . No kids
frick life insurance
frick life insurance
Posted on 6/7/26 at 8:15 am to Hondo Blacksheep
quote:
Of course it does. If a beneficiary has already passed, the probate court will rework the entire distribution scheme if necessary.
Similarly, if a prior spouse, now divorced, was listed as the beneficiary of a bequest and a subsequently revised will says otherwise, the divorced spouse is cut out. Same with pretermitted heirs and so on.
If a lawyer told you this, they malpracticed. If you're a lawyer, then that is really scary. Your understanding of how this works is literally the opposite of how it actually works.
Posted on 6/7/26 at 8:19 am to lsu xman
Do you have life insurance? Who is the beneficiary?
—You’re crazy if you think I’m telling you this info, Mr. Chinese Bot
—You’re crazy if you think I’m telling you this info, Mr. Chinese Bot
Posted on 6/7/26 at 8:30 am to lsu xman
I had employer paid policy and a 20-year level term that expired 2 years after I retired. Have none today, but wife and kids will split our assets. I have never been a fan of high amounts of insurance, and focused on building wealth.
I would have no insurance if I didn't have beneficiaries.
I would have no insurance if I didn't have beneficiaries.
Posted on 6/7/26 at 8:41 am to lsu xman
If you are single with no kids, it's a waste of $ beyond what it costs to put you in the ground.
If you have nieces/nephews you like, you could get one for them.
If you have nieces/nephews you like, you could get one for them.
Posted on 6/7/26 at 8:48 am to Hondo Blacksheep
quote:
Keep in mind your trust and will papers will trump the beneficiary designations in your insurance contracts.
Not accurate. The beneficiaries on the policy dictate who gets the money.
Posted on 6/7/26 at 9:32 am to lsu xman
Married with one adult kid who is out of the house and self sufficient with our grandkid. I let two of the term policies expire. Mid 50s. Wait until you reprice those babies to renew after 50. You'll think twice
Posted on 6/7/26 at 9:39 am to GreenRockTiger
quote:
SuperSaint
Good answer.
If gave it to me, Id spend it on fast cars, whiskey, and wives.
The rest Id just waste.
Posted on 6/7/26 at 9:43 am to lsu xman
I wouldn’t buy life insurance in your case
Posted on 6/7/26 at 11:01 am to lsu xman
The wife (no pics) will get it. If something happens to both of us at the same time, like a car accident, it goes into a trust administered by my sister (no pics) for my kids. She’ll use it for any educational expenses, etc. and then as each graduates from college they would get their third.
However, my oldest has graduated, my middle is halfway through, and youngest is starting college in August so I’ll be amending it within a few years to bypass the trust and go to them direct if wifey and I go out together in a blaze of glory.
However, my oldest has graduated, my middle is halfway through, and youngest is starting college in August so I’ll be amending it within a few years to bypass the trust and go to them direct if wifey and I go out together in a blaze of glory.
Posted on 6/7/26 at 11:12 am to lsu xman
$1,000,000 policy that costs me $1,350/yr.
I keep changing it depending on my mood, but I think the wife gets around 2/3 and the rest goes to my kids.
ETA: Also have $100k policy on the wife. My reasoning was that it would be easier to replace her if I’m driving a Porsche. Though the price of a 911 has increased considerably since I took out that policy.
I keep changing it depending on my mood, but I think the wife gets around 2/3 and the rest goes to my kids.
ETA: Also have $100k policy on the wife. My reasoning was that it would be easier to replace her if I’m driving a Porsche. Though the price of a 911 has increased considerably since I took out that policy.
This post was edited on 6/7/26 at 11:18 am
Posted on 6/8/26 at 5:33 pm to Hondo Blacksheep
quote:
You really need to go see a legitimate trust and wills attorney and explain everything and update your T & W.
Already done
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