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Has anyone willed their kids to you?


Forum: Financial Planning and Budgeting

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  #1  
August 27th, 2007, 05:29 PM
~Jess~'s Avatar Platinum Supermommy
Join Date: Oct 2005
Location: Central California
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...if so, can you handle the financial burden?

I'll get my brother and sister (11-year-old twins) if my parents were both to die. They have me listed as executor of their will and beneficiary on the life insurance, so I'd have plenty of money to upgrade our home, put them thru college, and pay for living expenses.

If just my mother dies, I'll get my 11-year-old sister, and my brother will stay with my dad. They have a separate life insurance policy set up for me. My father will get the regular life insurance policy (the big one), and I'll get around $150k for her care. It's not that my dad is abusive or anything, but he's gotten to be a grouchy son-of-a-gun as he's gotten older (he's nearly 60 now!) and a teenage girl would be too much for him to handle. My sis tends to be very emotionally needy, so she wouldn't thrive in that environment, kwim? Just in case anyone was wondering...
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  #2  
August 27th, 2007, 05:39 PM
BensMom's Avatar Ephesians 4:29
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I didn't know you had younger siblings!

I don't know if my sister or SIL have willed their kids to us or not, actually. If they did, I'm sure there's little or no life insurance money coming. My sister isn't bright enough to do something like that, and my SIL (at age 40) has already had cancer 3 times. I think we could handle the expense, but it would be tight for a couple of years.
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  #3  
August 27th, 2007, 07:42 PM
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My sister has told us that she would want us to raise their girls in the event both her and her DH were to die. I don't know for sure if she ever made it legal, though. It has been a few years since she mentioned that to me, and since then we have moved farther away from family and made some pretty drastic lifestyle changes. I'm not sure if that is what she would still want or not.

I don't know how we would handle the financial aspect, but if it were to happen we would manage. God provides!
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  #4  
August 27th, 2007, 07:58 PM
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None of our siblings have kids yet.

We didn't have our life insurance until we had our son...we wanted to make sure that if something happened to us, someone could take care of him w/o having to worry about the financial aspect.
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  #5  
August 27th, 2007, 08:00 PM
~Jess~'s Avatar Platinum Supermommy
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Jennifer, I might leave my kids to you. But don't worry, you'd get a humongo check ($750k).

Chrystal, yeppers, I'm the oldest of 4. I have a 25-year-old sister, whom I always think of as 22 for some reason. Don't know why???

Then I have 11-year-old twin bro/sis that are adopted, and whom I absolutely ADORE. The crazy thing is that they look just like us all, blond-haired blue-eyed beauties. I'm the dark one of the family, I favor my mom, everyone else looks like my dad.
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  #6  
August 28th, 2007, 07:18 AM
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no one would leave their kids to me

maybe my dad, but everyone else thinks I am satan's spawn

and we would be screwed if more kids came into our house

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  #7  
August 28th, 2007, 12:28 PM
4iris's Avatar Platinum Supermommy
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Well, if they have they didn't tell us about it. And we're slackers who need to create wills and plan for our kids. Bad, Kathryn!!

ETA: we do have plenty of life insurance, just haven't written down what to do with it.
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