Debts, Belongings

[helloitsme]

Are people on here thinking about what they willl leave behind financially and physically if they CTB. Are you selling all of your stuff? What about credit card debt? Who will be left to pay things off?

Are you writing a will?

 

[BeefNBrandy]

I will take on a big credit and get the most of my last day

 

[StevieNixs]

Your debt usually dies with you.

 

[Worndown]

We have a lot if stuff. A will is helpful if you have an opinion on what goes where. If not...you will be beyond all these worldly possessions. Someone will make it all go away.

 

[helloitsme]

I have an apartment with a mortgage I also have student loans and a little credit card debt. The apartment is worth about twice what is left on the mortgage. I would like to leave it to my family, but then they will have to deal with the mortgage and other debts since I am leaving them an asset, right? I also own a car which is paid off.

 

[StevieNixs]

Are people on here thinking about what they willl leave behind financially and physically if they CTB. Are you selling all of your stuff? What about credit card debt? Who will be left to pay things off?

Are you writing a will?

Started to donate much of my stuff in July. Trying to clear my house but the process is starting to get me down because I thought it could be done in a couple of days. I have too much useless rubbish. I am also taking a lot of the stuff to the tip and surreptitiously giving other stuff away under the guise of Autumn cleaning.
Finally, I became so depressed by my house being cluttered up with boxes and trying to clear it all that I googled "Free house clearance" and came across lots of charities who will do this if your stuff is worth taking. I booked in an assessment which should take place within the next five days. They will come out take photos, etc. then book a date to take the stuff I will not be leaving for my family. This is a relief. I never knew such a service existed.
Financially I am not leaving much aside from the very little in my bank account and my nearly new car. But at least my family will not have to pay to cremate me as I have a pre-paid funeral plan.

 

[everydayiloveyou]

I have life insurance. I couldn't get that much because I'm still low-income and don't have any assets so that sucks. But it should be enough to cover my funeral expenses if my family wants it, plus financial support for a few years.

I won't leave any debt because I think it can interfere with life insurance payouts and other financial aspects of your estate. I don't want my family to be in a bad situation just because I wanted to have some fun before I go. The debt I do have is fully forgiveable upon death or total disability if I survive the attempt.

If I live long enough to get a good job and make lots of money, I will leave as much as I can in savings. My goal is to leave enough to pay off the house and help my family survive without working for many years.

otherwise I own nothing else of value. I have some collectible things related to an interest of mine, so if my family wants to they can sell the stuff for a tiny profit. I won't sell it myself since it makes me happy to have it.

 

[Apricity]

Your debt usually dies with you.

Only if you don't have an estate. Best way to get around that is to sell any real property before, i.e. cars, homes, boats, etc.

 

[StevieNixs]

I have life insurance. I couldn't get that much because I'm still low-income and don't have any assets so that sucks. But it should be enough to cover my funeral expenses if my family wants it, plus financial support for a few years.

I won't leave any debt because I think it can interfere with life insurance payouts and other financial aspects of your estate. I don't want my family to be in a bad situation just because I wanted to have some fun before I go. The debt I do have is fully forgiveable upon death or total disability if I survive the attempt.

If I live long enough to get a good job and make lots of money, I will leave as much as I can in savings. My goal is to leave enough to pay off the house and help my family survive without working for many years.

otherwise I own nothing else of value. I have some collectible things related to an interest of mine, so if my family wants to they can sell the stuff for a tiny profit. I won't sell it myself since it makes me happy to have it.

Does life insurance cover you for suicide in your country? Never knew that? I looked for this a few years ago but they had all sorts of exclusions including this one which sucked.

 

[Apricity]

Does life insurance cover you for suicide in your country? Never knew that? I looked for this a few years ago but they had all sorts of exclusions including this one which sucked.

I always thought the same thing, but another user pointed out that some policies still pay if you ctb but it has to be at least two years after you start the policy. The premiums are probably way higher too.

 

[articledon]

All I know is before my mother and sister passed away they made sure their money in their bank accounts were put in a payable on death account so it would not be subject to probate court so that whoever was listed on the account would be able to receive the money once they passed away

 

[helloitsme]

Started to donate much of my stuff in July. Trying to clear my house but the process is starting to get me down because I thought it could be done in a couple of days. I have too much useless rubbish. I am also taking a lot of the stuff to the tip and surreptitiously giving other stuff away under the guise of Autumn cleaning.
Finally, I became so depressed by my house being cluttered up with boxes and trying to clear it all that I googled "Free house clearance" and came across lots of charities who will do this if your stuff is worth taking. I booked in an assessment which should take place within the next five days. They will come out take photos, etc. then book a date to take the stuff I will not be leaving for my family. This is a relief. I never knew such a service existed.
Financially I am not leaving much aside from the very little in my bank account and my nearly new car. But at least my family will not have to pay to cremate me as I have a pre-paid funeral plan.

are you selling your house?

 

[StevieNixs]

are you selling your house?

I rent - so no house to sell thank God.

 

[everydayiloveyou]

Does life insurance cover you for suicide in your country? Never knew that? I looked for this a few years ago but they had all sorts of exclusions including this one which sucked.

It depends on your policy. Mine will pay out only if the suicide happens at least 2 years after the policy goes into force. I'm in the USA.

If you have previous attempts, aren't in treatment, or have other warning signs that you may commit suicide soon, it's possible they can refuse you as well.