Tag Archives: Probate

Don’t want to go into the funeral home – try drive-thru viewing

drive thruIt is not a new concept but now Ryan Bernard of Memphis is joining the drive-thru visitation service trend. 

When Bernard bought an old bank building in Memphis to use for a funeral home, he found a unique use for the drive-thru window.  Guests can view the deceased’s body through a bullet-proof window.  If they don’t want to fuss with parking and getting out of the car or are afraid of funeral homes, guests can just drive up and pay their respects.  They can sign an iPad guest book and spend approximately 3 minutes alone with the body.

The drive-thru concept is a free add-on offered to people when they are planning a funeral.

According to Bernard, he’s gotten a mostly positive reaction although some people have said they find it disrespectful.

His facility, R. Bernard Funeral Services, has already added live streaming of funerals and will continue to add innovative concepts.  He said, “The funeral industry is always changing every year. I keep the old traditional funeral stuff and try to add new stuff to it,” Bernard said. “I am 41 years old. I am not out just to market to the grandmas and grandpas, I am trying to get the millennials and the Baby Boomers too.”

Whether you want to add non-traditional elements to a funeral or just plan an “old fashioned” one, for more information go to www.diesmart.com.

What happens to your small business after you die?

imagesVG6IEGM7You may have a will or a trust that covers the disposition of your personal assets after you die.  If you own a small business, those documents are not enough.  There must be a separate plan put in place to  insure that your business will continue when you’re gone.

It’s a good idea to consult an attorney but, before you do, you should ask yourself and those involved in the business with you the following questions:

  • After your death, do you want the business to continue?
  • Who do you want to run the business?
  • Does that person want to run the business or have the skills to do so?
  • If you have children, do you want one running the business with the other(s) sharing in the profits?
  • Do you have partners to consider?
  • What’s the best way to transfer ownership?

If your spouse or children are going to take over the business, transferring your interest to them is fairly simple.  It can be more complicated if you want someone outside of your family  to run the business.  Whoever you decide is the right person to manage your company, you definitely should make plans that will allow the business to continue running while avoiding probate proceedings.

Two common ways to transfer business assets and operations are:

  • Key Man Insurance:  Either the business takes out an insurance policy on each owner’s life or a cross-purchase arrangement occurs in which each partner takes out life insurance for each other, using the proceeds to purchase your share when you die. This ensures the company avoids a drain on the business’s cash and allows for an injection of cash in order to fulfill a buy/sell agreement.
  • Buy/Sell Agreement: This agreement can be automatically triggered upon your death and provide that your interest in the business can be acquired from your estate, leaving your beneficiaries with the proceeds from the sale. This allows your business to continue running smoothly, with the same people in control, except for you.

However you decide to plan for the continuation of your small business, the important thing is to make a plan now, before it’s too late.

For more information about estate and other end of life planning, go to www.diesmart.com.

 

 

 

Do your parents have $260,000 to cover health care expenses in retirement?

Assisting aging parents is something commonly encountered by financial advisors as children are having discussions with them.older-woman-with-doctor_istock_640_02062013

Legal:  At the least, parents should have an up-to-date will, power of attorney and healthcare directive.  It’s equally important that children know where these documents are kept.  The healthcare documents should also be provided to each parent’s physician.

Medical Expenses:  A research study by conducted by Fidelity Investments found that a 65-year old couple who retired in 2016 will need an estimated $260,000 to cover their health care expenditures in retirement.  These figures apply to retirees with traditional Medicare coverage.  It is important to be aware that Medicare does not cover long term care, something there’s a chance nearly 70% of senior citizens will require.

Housing:  Where would your parents like to live if they have to leave their current home?  Has downsizing been discussed?  What if they need more assistance with their day-to-day activities?  It’s important to discuss this topic with them while they are still healthy.  That way, you can have a plan in place so a transition will be easier if required.

Having conversations with your parents about topics like these is very important.  They may not be easy but they will be very helpful for planning and to avoid conflict in the future.

For more information about aging and planning for end of life, check out our website www.diesmart.com.

Does anybody want your parents’ stuff?

thN5NI330OWhen my father died (my mother had predeceased him), I was charged with cleaning out his condo.  There were all sorts of things stuffed in drawers and closets that I’m sure had value…but I didn’t want.  Ditto for my brother.  There was also a lot of antique furniture – probably worth some money but definitely not fitted to our life styles.  Dad never asked if we wanted him to save all of those “heirlooms” for us.  He just did.  It took weeks before I was able to dispose of everything.

I read a blog by Richard Eisenberg – Next Avenue Blogger - a few days ago that really hit home and wished I had read it before dad died.  It could have saved me a lot of difficulty and anguish.  I’m reprinting it here in its entirety in the hope that it may help someone else.

“Sometimes, if you’re a lucky journalist, something you write strikes a chord. I’m grateful to say that just happened with my Next Avenue blog post, “Sorry, Nobody Wants Your Parents’ Stuff,” about challenges boomers and Gen X’ers are facing finding homes for their late parents’ heirlooms (as I experienced after my father died last fall).

This post about a heartbreaking, pervasive problem struck a minor chord in a major way: It was the most viewed article in Next Avenue’s history, garnering more than 1.5 million views, 32,000 Facebook shares and 5,500 comments, and was printed over 3,100 times.

I want to share some of the poignant, funny, helpful and angry comments Next Avenue received (shortened for brevity in some instances), as well as a few suggestions readers offered for selling, donating or passing on parents’ possessions.

The Facebook comments mostly fell into one of five camps: “I so relate,” “This is so sad and difficult,” “I feel guilty about what I had to do,” “I won’t let this happen to my kids” and “You’re wrong! People want  these possessions.” A few plaintively seemed to ask if anyone wanted the particular items they needed to unload. For instance, Nina Mizrahi posted: Does anyone know of folks who collect old crystal set “radios?” Model Steam engines? Colleen Ferguson queried: Anyone want a 1980s soft-sided waterbed?

We will not leave a mountain of stuff for our daughter to deal with. Period.

— Deborah Laister Wagge

I So Relate

Many people said things like “This is spot on!” and “Living it.” Others, like these, got personal:

Merilee Campbell Bridgeman: My children have already told me they don’t want any of our antiques because they don’t care for ‘brown furniture.’ Drives me crazy that they prefer cheap furniture made of pressed sawdust and glue, but what’s a mom to do?

Julie Cranford: That’s why my mother’s beautiful and very valuable antique furniture is still in storage. Unfortunately, I brought home my mother’s, grandmother’s and even great grandmother’s silver, china and glassware. With three boys, I’m sure it will all end up in a dump somewhere.

Annice Laws: My mother… amassed an unbelievable amount of stuff over her lifetime and always preached to me the “value” of this or that…. Well, I’ve learned that nothing is worth anything if no one wants it. My siblings and I kept the select items we were personally interested in, and for the rest of it I’ve held yard sales, put things on consignment, gone to pawn shops, posted on Craigslist and eBay, so on and so forth, but have never made more than a few dollars. I couldn’t even find buyers for her genuine gold and gem stone jewelry and had to liquidate it for pennies at one of those “we buy gold” places. I still have a storage unit full of stuff 20 years after her death because in her memory I can’t bring myself to just give it away.

This Is So Sad and Difficult

Connie Guerrera Maida: Purging my parent’s home of all their possessions was the most daunting task I ever had to do!!

Amy Kelley Warth: It is so overwhelming. Piles and piles of boxes in our basement that are completely random/disorganized… But 95 percent of it is “junk” — nobody wants it. So frustrating and stressful…Just when we got our house settled and had a minimalist lifestyle we were comfortable with, we inherited all this STUFF!

Ellen Schrader Stutts: Just went through this with my 91-year-old mother’s things. Gorgeous refinished furniture that went for fire sale prices at an estate sale… We ended up donating truckloads of stuff to the local shelter and thrift store. Heartbreaking.

Craig Unruh:. I know of three old men who were liquidating their collections and were sadly disappointed in the lack of interest. They collected French Art Posters, Royal Doulton Jugs, and rare Lladros. All their lives they saw the value of these things go up and up, and figured they were building an inflation-proof collection. So did a lot of other collectors of this stuff, but they all need to sell around the same time and not nearly as many buyers as there used to be.

Amy Stoopack Zipkin: In my experience, good luck involving a parent while they are still alive. Perhaps more productive to confer with sibling(s) to begin to establish realistic expectations for the inheritance.

Sofia Dakos: I am afraid we will destroy MANY items that will be sought after in future years and we will be moaning “why did I ever get rid of …”

Nancy Shire: What do you do with the hundreds of pictures of the grandkids taken when they were babies, of which there are probably dozens of duplicates? Who wants my Santa Claus collection? What about all the books? What about my daughter’s Girl Scout awards and sash — how can I throw them away? I guess they’ll all have the joy of plowing through everything when the time comes.

Soosi Day: In the future there will be no personal history … only ‘in the moment’ … no graves, no personal letters, no hard copies of long-lasting photographs, no heirlooms …. no footprints in the sand.

Marie Stout Newlin: It’s a good thing our deceased loved ones can’t see what’s happening to their prized possessions. Many of them struggled through financial woes and “made do” during hard times. To see their things pitched and tossed would be heartbreaking for them.

I Feel Guilty About What I Had to Do

Darlene Davies: My mother made me promise to never get rid of certain items so now they sit in the basement because I would feel guilty selling or giving them away.

Donna Reis: My mother was a serious collector of imported English Victorian antique furniture and spent her weekends throughout my life polishing it to an inch of its life … I cried when her table and chairs were loaded onto a trailer- I hated them but I loved them as well!

I Won’t Let This Happen to My Kids

Cindy Farnsworth Munoz: After having to get rid of my parents “stuff” twice when I lived in another state, I am more determined than ever not to leave that job for my daughter. I live minimally and continually purge. Something new comes in the house, something old goes out … Then when it’s me, her job won’t be insurmountable.

Michelle Rafter: We’ve been through this twice in five years, first when my in-laws moved into assisted living and last spring when my parents downsized … The process made me more diligent about cleaning out cupboards and drawers of my own house so my kids don’t have to.

James Massey: Just went through this for a lifelong friend. It was an ordeal to say the least… The experience impressed me enough to go through my own mess and rid the house of all the needless junk, and donate all (or most) of the items I hadn’t used for a year or more … Though, I couldn’t part with more than 10 or so of my books. Sorry kids… you’ll have to disperse them amongst yourselves after I’m gone. Or better yet, read some of them…

Deborah Laister Wagge: My husband and I recently moved to a new city to be close to grandchildren. I purged like crazy before the move. We will not leave a mountain of stuff for our daughter to deal with. Period.

You’re Wrong! People Want These Possessions

Jan Snodgrass: Not true. There is a big market for antiques!

Arlene Toolas-Villeneuve: I have to say, this has not been my experience at all. Ever had a garage sale? It all gets bought up.

Marcia Vande Vusse: The crochet hook my midwife, Irish immigrant great grandmother brought with her from her Irish home … went to my granddaughter age 15 who loves to crochet … count the generations … six and it is cherished again.

Tracy Fennell Sault: I’ve been working in a secondhand store the last two years. I’ve seen Millennials come in searching for retro or vintage furniture. Last fall I had a couple from Ohio come in looking for a sled like the one in Citizen Kane (Rosebud). Generations are looking for ways to reconnect.

Patricia Kane Bahr: I’m part of a vintage group on FB [Facebook] and lots of people love old furniture. They usually paint it and the results are gorgeous and trendy right now.

Bj Shelby: I believe it is the responsibility of the living to “proudly” dispose of their family members’ accrued stuff … Articles like this one are tagging The Parents’ stuff as a problem. SHAME!!

Brigette Cook Jones: I guess I must be the “Nobody” — I love antiques, old books and other older pieces. Most of these things are made better, and will hold up longer, than any of the IKEA crap that a young Millennial may be buying. If I can get it inexpensive, you will bet that I would buy a nice antique over some particleboard piece!

Danielle Hatfield: We DO want these items (Gen X here) but all too often the (boomer) family members in charge of taking care of our elders toss treasured items to the curb because *they* don’t want them or want to be bothered with distribution.

Pat Kohlenberger Ingham: So not true. I loved going through my parents stuff and my grandparents stuff! Found $600+ in silver coins in a suitcase, letters, diaries, pictures, memories, vintage clothes, etc. Sure there were rubber band collections, a lot of 1-inch long pencils, etc. But man, the memories!

Advice for Others With Their Parents’ Stuff

In addition to the tips below from Facebook posters, I heard from three professionals in fields related to this subject.

Ian Hammond, a Portland, Maine assistant manager at Habitat for Humanity’s ReStore, a nonprofit store and donation center, noted that ReStores accept donations of furniture and many other home furnishings and many offer pickup, usually at no cost.

Barry Gordon, founder of an online auction platform called MaxSold, told me his company comes to a person’s home, photographs and catalogs what’s available to sell and offers everything online through an auction, marketed to local prospects. “Ninety-eight percent of everything we offer is bought, picked up and taken away,” said MaxSold CEO Sushee Perumal. The company charges $10 per lot with a maximum 30 percent commission and a minimum fee of $1,000 ($300 minimum if you do the photography and cataloging). “We’re not the best option for someone with one or three things, but if you have 35 to hundreds of items, we’re a very good fit,” said Gordon.

Pam Pacelli Cooper, president of Verissima Productions, which creates video biographies to “preserve emotional memories for future generations,” recommends asking your parents to tell you about the personal significance of their possessions. “It is always a surprise — the worthless old rubber bathing cap elicits a vibrant story about visits to the local beach as a teenager and the lifelong friendships that were formed there.” Cooper adds: “Even subjects in the early and middle stages of dementia can remember long-forgotten stories, brought into focus by holding an object or looking at a photograph.”

And some advice from readers:

Beth Shanna Carpenter: My grandparents resell china and crystal professionally. Always check with Replacements, Ltd. — they adjust their rates based on what people are looking for.

Cynthia Broze: My family had large Christmas gatherings every year at my grandparents house. My grandmother used her china, that she saved hard for, at these gatherings. When she died she left it to me and I kept it for 30 years … I emailed to all nieces, her great grandkids, cousins, etc., saying … Hey remember that china? I split it up between many who were happy to take a plate, cup or setting.

Susan Millikin Gorman: We need to teach our children when they are small, what good furniture is. What will last. I took my daughter to a Cherry furniture factory at age 10. She was shown what to look for when buying furniture.

Julie Popovic: Please call your locally owned antique shops or vintage stores first. Small businesses like these often will come in and buy many things you think are worthless.

Diane DiVittorio Strauss: When my mom moved out of her large house into an apartment, I made a quick FREE sign with a board, a pole and stick-on letters. I posted it outside near the road and every day I put a small pile of things that normally would have been discarded. It was so much fun to stand by the window and watch neighbors and passersby “go shopping” in our free pile! Young families took our scrap lumber, guys in pickup trucks took the ladders and handcarts, all the gardening supplies were scooped up, etc, etc. This was much better than hauling it all to the dump.

Marleen Allen Varner: In some communities there are organizations which can use some furniture when setting up homes for formerly homeless folks.

Teresa Rogers: If your family has war letters in its possession, you should consider donating them to the Center for American War Letters at Chapman University, rather than tossing them out.

Does Our Stuff Really Matter?

And I’d like to finish with two comments I especially enjoyed:

Barb Ebert: It doesn’t bother me that my girls are not interested in our stuff. It’s just stuff, really.

Veronica Villano: Personally when I die if someone enjoys something of mine great but it’s not me!! Do whatever you want with my stuff after I die but keep a good memory of me in your heart!!”

For more information about end of life planning, check out our website http://www.diesmart.com.

Do you think this is a brutal obituary?

cemeteryWe read this article on CNN and decided to share it with you exactly as written.   Did you ever have a relative you absolutely detested and yet you wrote a flowery obituary?  Not the person in this story by AJ Willingham

Story highlights

“(CNN)This is not one of those funny-yet-terse obituaries that often make headlines. This one is kind of upsetting, and the author of the shocking screed has a very specific reason for her harsh words.

Leslie Ray Charping of Galveston, Texas, recently died at the age of 75, and his obituary posted on the Carnes Funeral Home website quickly went viral. It is no longer on the site, but has been widely reported and corroborated by Charping’s daughter, who wrote it.

The words, wholly un-minced, speak for themselves:

“Leslie Ray ‘Popeye’ Charping was born in Galveston on November 20, 1942 and passed away January 30, 2017, which was 29 years longer than expected and much longer than he deserved.”

“At a young age, Leslie quickly became a model example of bad parenting combined with mental illness and a complete commitment to drinking, drugs, womanizing and being generally offensive. Leslie enlisted to serve in the Navy, but not so much in a brave & patriotic way but more as part of a plea deal to escape sentencing on criminal charges.”

“Leslie’s hobbies included being abusive to his family, expediting trips to heaven for the beloved family pets and fishing, which he was less skilled with than the previously mentioned. Leslie’s life served no other obvious purpose, he did not contribute to society or serve his community and he possessed no redeeming qualities besides quick whited [sic] sarcasm which was amusing during his sober days.”

“With Leslie’s passing he will be missed only for what he never did; being a loving husband, father and good friend.”

” Leslie’s passing proves that evil does in fact die and hopefully marks a time of healing and safety for all.”

According to the original obituary, Charping was cremated and is currently being kept in the family barn.

If the idea of speaking ill of the dead disturbs you, Charping’s daughter, the obit’s author, assures you you’re fortunate to miss the point.

“I am happy for those that simply do not understand, this means you had good parent(s) — please treasure what you have,” the woman told CNN affiliate KTRK in a statement.

“I apologize to anyone that my father hurt and I felt it would have been offensive to portray him as anything other than who he was,” she also said. “This obituary was intended to help bring closure because not talking about domestic violence doesn’t make it go away!”

She asked not to be named in the KTRK report.”

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We certainly hope your relatives are nicer than the father described above. If you need help writing an obituary or planning a funeral for one of them, check out our website http://www.diesmart.com.