Christine Dabney wrote:
>
> Heya folks,
>
> I am in orientation all this week..and today we had several speakers.
> One was a chaplain, who asked us if we had Living Trusts and wills.
>
> This got me thinking...and thinking about my kitchenware and
> cookbooks, among other things. The slightly morbid part is wondering
> how to give those to people that enjoy food and cooking, and to whom
> they should go to, after I am gone.
>
> I put this question to the cookbook collectors first of all.. Are you
> planning to leave your cookbooks to family? Or do something else with
> them?
>
> For me, (not that I plan to kick off anytime soon) I am wondering who
> I would give all my stuff to. I have no family that would want them.
> Occasionally, I know we have joked here and in chat, that various
> folks here might want the stuff...but that was probably just joking.
>
> I suppose I could leave the cookbooks to some used bookstore, or to a
> library, but I would prefer to leave them to someone that would get
> immense pleasure from them... Same with the kitchenwa I suppose I
> could leave all that to some worthy recipient, but who?
>
> I have idly thought about this over the years, but only today did I
> think about it more seriously. I realized I should probably designate
> some beneficiary someday...and should probably have a will written
> up...
>
> My mother, when she died, left everything to me and my 3 sisters. She
> designated some things to be given to each of us...and my middle
> sister and I split the good china, and I took the silverware.
>
> Anyway, I am putting this out to you all...to see if you have ideas.
> Mind you, I want to live as long as I can...hopefully into my mid 80s
> or longer... The people that I know would love these things, either
> have a ton of cookbooks themselves, or are about my age...and it
> probably wouldn't do them much good for me to leave them this stuff.
>
> As I said, slightly morbid, I know.

I don't think such forethought is morbid - it's actually considerate for
the folks left behind ! Recently, my stepmom had a dear friend of hers
who suddenly died. Stepmom is the Executrix. Thankfully, the Deceased
left specific instructions (whew!). The wise (try to) plan. More
important I think, is the 'means' to accommodate the Deceased's wishes
should be included, too (?). Alas, that's not always the situation, I
think? Makes it much more difficult to follow those wishes and Last
Declarations.

Sky

--
Ultra Ultimate Kitchen Rule - Use the Timer!
Ultimate Kitchen Rule -- Cook's Choice!!

Christine Dabney wrote:
>
> On Wed, 23 Jun 2010 21:23:28 -0500, Sky >
> wrote:
>
> >I don't think such forethought is morbid - it's actually considerate for
> >the folks left behind ! Recently, my stepmom had a dear friend of hers
> >who suddenly died. Stepmom is the Executrix. Thankfully, the Deceased
> >left specific instructions (whew!). The wise (try to) plan. More
> >important I think, is the 'means' to accommodate the Deceased's wishes
> >should be included, too (?). Alas, that's not always the situation, I
> >think? Makes it much more difficult to follow those wishes and Last
> >Declarations.
>
> Yeah..but how should I go about finding those enthusiastic folks that
> might want my "treasures"? If I keep on collecting all these years,
> and I expect that I will...I will probably have over 2000 or so
> cookbooks. Maybe more, if I can afford them..LOL.
>
> Naturally, my first thoughts go to my food friends.... I don't have
> relatives that would want them: none of them are food fiends like I
> am. And who of my food friends are most likely to outlive me by quite
> a few years, and might get a lot of use out of the cookware, and
> cookbooks? And who of those friends, would want this stuff?
>
> My cookware will outlive me quite well. Most of it is All-Clad and Le
> Crueset, and some other great stuff. Should I bury it with me? Or
> have it cremated with me?
>
> The chaplain said that in CA, if you don't have a living trust, the
> state will take a good portion of it. Don't know what other states
> do.


Well, going towards the morbid side, I don't tend to presume to ask
(folks or otherwise!) to have anything bequeathed to me - now that's
really morbid (?). Hopefully, they'd offer or think of something
treasured for sentimental reasons (???)? But, it'd be so hard to know
otherwise unless someone's said somethint, too, eh? Such a quandry. OK
then, can I have/get first dibs on that 'pot tree' of yours, Chris???!!!
<VVBG>

Sky

--
Ultra Ultimate Kitchen Rule - Use the Timer!
Ultimate Kitchen Rule -- Cook's Choice!!

> Christine Dabney wrote:

>> The chaplain said that in CA, if you don't have a living trust, the
>> state will take a good portion of it. Don't know what other states
>> do.


I strongly suggest that you consider the chaplain to be correct in
matters other than estates and trusts. Not having a Living Trust, does
not escheat a "good portion" of your estate to the state of California.

The only time a state takes a decedent's assets is if the beneficiaries
can't be found and there is no will or the will has no provisions for
such a situation. The only time I have seen this happen when someone had
a will was when it was not professionally prepared.

A living trust avoids probate. Probate is *not* a tax or duty, it is a
process. A will goes through the probate process and some states require
high fees. If the estate is large enough, the state might require the
executor to do an accounting and this can be costly. Appraisals would
also be costly.

A living trust bypasses the probate process by distributing your
property outside of the jurisdiction of the state. Unless the property
placed in the trust is put there irrevocably, that means you can never
take it back once you fund the trust, it does not avoid taxation.

In states that have inheritance taxes on non-relatives or degrees of
relatives, the executor will have to file a tax document (some places
call them a return other places call them an "affidavit")and the
property in the living trust, unless it is irrevocable, will be subject
to taxation or duty. If the property is subject to tax or duty, the
taxing authority will require the appraisals, so it's not going to save
anything.

If your estate is very large and you live in a state that had a
difficult and expensive probate process, like Florida, you should
consider a Living Trust. It does not supersede having a Last Will and
Testament. Generally both documents work in conjunction with each other.

Please don't do anything until you have consulted an attorney who
specializes in such matters. It would be worth the consultation fee to
learn that you could be 1) throwing your money away getting all of these
documents drafted and executed and 2)having the consequences of the
documents (will and trust) not be what you want for those whom you want
to get your possessions.

You don't go to the dentist for brain surgery, do you?

(off the soap box for now :-))
--
Janet Wilder
Way-the-heck-south Texas
Spelling doesn't count. Cooking does.

On Thu, 24 Jun 2010 13:25:44 -0500, Janet Wilder
> wrote:

>
>> Christine Dabney wrote:
>
>>> The chaplain said that in CA, if you don't have a living trust, the
>>> state will take a good portion of it. Don't know what other states
>>> do.
>
>
>I strongly suggest that you consider the chaplain to be correct in
>matters other than estates and trusts. Not having a Living Trust, does
>not escheat a "good portion" of your estate to the state of California.
>
>The only time a state takes a decedent's assets is if the beneficiaries
>can't be found and there is no will or the will has no provisions for
>such a situation. The only time I have seen this happen when someone had
>a will was when it was not professionally prepared.
>
>A living trust avoids probate. Probate is *not* a tax or duty, it is a
>process. A will goes through the probate process and some states require
>high fees. If the estate is large enough, the state might require the
>executor to do an accounting and this can be costly. Appraisals would
>also be costly.
>
>A living trust bypasses the probate process by distributing your
>property outside of the jurisdiction of the state. Unless the property
>placed in the trust is put there irrevocably, that means you can never
>take it back once you fund the trust, it does not avoid taxation.
>
>In states that have inheritance taxes on non-relatives or degrees of
>relatives, the executor will have to file a tax document (some places
>call them a return other places call them an "affidavit")and the
>property in the living trust, unless it is irrevocable, will be subject
>to taxation or duty. If the property is subject to tax or duty, the
>taxing authority will require the appraisals, so it's not going to save
>anything.
>
>If your estate is very large and you live in a state that had a
>difficult and expensive probate process, like Florida, you should
>consider a Living Trust. It does not supersede having a Last Will and
>Testament. Generally both documents work in conjunction with each other.
>
>Please don't do anything until you have consulted an attorney who
>specializes in such matters. It would be worth the consultation fee to
>learn that you could be 1) throwing your money away getting all of these
>documents drafted and executed and 2)having the consequences of the
>documents (will and trust) not be what you want for those whom you want
>to get your possessions.
>
>You don't go to the dentist for brain surgery, do you?

Well obviously your dentist removed all your wisdom teeth.

On Thu, 24 Jun 2010 14:46:22 -0400, brooklyn1 wrote:

> On Thu, 24 Jun 2010 13:25:44 -0500, Janet Wilder
> > wrote:
>
>>
>>> Christine Dabney wrote:
>>
>>>> The chaplain said that in CA, if you don't have a living trust, the
>>>> state will take a good portion of it. Don't know what other states
>>>> do.
>>
>>
>>I strongly suggest that you consider the chaplain to be correct in
>>matters other than estates and trusts. Not having a Living Trust, does
>>not escheat a "good portion" of your estate to the state of California.
>>
>>The only time a state takes a decedent's assets is if the beneficiaries
>>can't be found and there is no will or the will has no provisions for
>>such a situation. The only time I have seen this happen when someone had
>>a will was when it was not professionally prepared.
>>
>>A living trust avoids probate. Probate is *not* a tax or duty, it is a
>>process. A will goes through the probate process and some states require
>>high fees. If the estate is large enough, the state might require the
>>executor to do an accounting and this can be costly. Appraisals would
>>also be costly.
>>
>>A living trust bypasses the probate process by distributing your
>>property outside of the jurisdiction of the state. Unless the property
>>placed in the trust is put there irrevocably, that means you can never
>>take it back once you fund the trust, it does not avoid taxation.
>>
>>In states that have inheritance taxes on non-relatives or degrees of
>>relatives, the executor will have to file a tax document (some places
>>call them a return other places call them an "affidavit")and the
>>property in the living trust, unless it is irrevocable, will be subject
>>to taxation or duty. If the property is subject to tax or duty, the
>>taxing authority will require the appraisals, so it's not going to save
>>anything.
>>
>>If your estate is very large and you live in a state that had a
>>difficult and expensive probate process, like Florida, you should
>>consider a Living Trust. It does not supersede having a Last Will and
>>Testament. Generally both documents work in conjunction with each other.
>>
>>Please don't do anything until you have consulted an attorney who
>>specializes in such matters. It would be worth the consultation fee to
>>learn that you could be 1) throwing your money away getting all of these
>>documents drafted and executed and 2)having the consequences of the
>>documents (will and trust) not be what you want for those whom you want
>>to get your possessions.
>>
>>You don't go to the dentist for brain surgery, do you?
>
> Well obviously your dentist removed all your wisdom teeth.

what did your dentist remove?

blake