There’s a financial ‘sweet spot’ for my kids regarding when i pass. Before retirement we’re still adding to savings. After retirement it gets tricky with health and lifestyle.
I’d hope you have more value to your kids than a chunk of money.
Sure money is always helpful, but I’m in no rush for my parents to kick the bucket. I’d rather they run my inheritance down to zero if it meant they got to stick around a bit longer.
Keyword: “Financial”. I would rather inherit nothing than lose my folks before their time. Money is fake anyway, they are not.
One stops by frequently and calls or texts daily (I’m home, Love you guys, cat photos, …). The other hasn’t spoken to us since July. This made me realize that we need to choose an executor that’s outside the family.
Have you spoken about family trusts with your financial advisor?
We did wills and trusts for our moms before they passed (i fucked up my mom’s trust and had to probate) but we haven’t done our own yet. That’s our January plan.