Rob Base 2.0
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Post by Rob Base 2.0 on Dec 7, 2017 15:59:58 GMT -5
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swamp
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Post by swamp on Dec 7, 2017 16:07:36 GMT -5
If David Cassidy write and own the rights to his songs, I can understand why.
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Post by The Walk of the Penguin Mich on Dec 7, 2017 16:08:11 GMT -5
Did he receive royalties on his music and TV shows? If he did, the amount he had in the bank is moot.
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Shooby
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Post by Shooby on Dec 7, 2017 16:09:10 GMT -5
$150k? Thats it?? Wow. Does he have a $20M home or something?
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resolution
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Post by resolution on Dec 7, 2017 16:15:44 GMT -5
It sounds like his daughter is quite well off and didn't make any comments about being deliberately left out of the will. But it is such a public slap in the face. I would be really hurt, even though there was no real money involved.
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NomoreDramaQ1015
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Post by NomoreDramaQ1015 on Dec 7, 2017 16:27:36 GMT -5
Could be he never got around to updating it before he died. It doesn't say how recently they reconciled.
When DH rolled over an old 401(k) his mother was listed as the beneficiary. This was a 401(k) he'd had before we even met. I was the beneficiary of all his new stuff but it didn't occur to him to see if there was any old stuff out there he needed to change. It an outsider it would have looked deliberate.
YM-ers tend to be outliers in that we're always thinking about these things. Most people are like my husband, they don't think about this stuff because they assume they will have plenty of time to it later or just plain forget.. then Bam.
Prince's estate was a mess because he didn't have his affairs in order. All his half siblings are still squabbling over the estate I believe.
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Post by The Walk of the Penguin Mich on Dec 7, 2017 16:53:29 GMT -5
Could be he never got around to updating it before he died. It doesn't say how recently they reconciled. When DH rolled over an old 401(k) his mother was listed as the beneficiary. This was a 401(k) he'd had before we even met. I was the beneficiary of all his new stuff but it didn't occur to him to see if there was any old stuff out there he needed to change. It an outsider it would have looked deliberate. YM-ers tend to be outliers in that we're always thinking about these things. Most people are like my husband, they don't think about this stuff because they assume they will have plenty of time to it later or just plain forget.. then Bam. Prince's estate was a mess because he didn't have his affairs in order. All his half siblings are still squabbling over the estate I believe. I read that his will was from 2004. A lot can happen in 13 years.
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Opti
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Post by Opti on Dec 7, 2017 17:05:55 GMT -5
Good or bad planning? Unable to know. He had serious serious health issues. Who knows how much money he's spent on his own health just to make it to 67?
RIP Go well
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Rob Base 2.0
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Post by Rob Base 2.0 on Dec 7, 2017 17:34:33 GMT -5
But what about the theory in general about dying just as you go "broke". Is that a good or bad thing?
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hoops902
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Post by hoops902 on Dec 7, 2017 17:57:55 GMT -5
But what about the theory in general about dying just as you go "broke". Is that a good or bad thing? If you have a time machine or the ability to see into the future to know precisely when you're going to die...it's a good thing. Otherwise, it's poor planning/execution turned lucky.
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Rob Base 2.0
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Post by Rob Base 2.0 on Dec 7, 2017 18:10:17 GMT -5
But what about the theory in general about dying just as you go "broke". Is that a good or bad thing? If you have a time machine or the ability to see into the future to know precisely when you're going to die...it's a good thing. Otherwise, it's poor planning/execution turned lucky. so you don't feel a "responsibility" to leave an inheritance to kids, etc? or to leave some "legacy" charity thingee?
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Tiny
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Post by Tiny on Dec 7, 2017 18:15:54 GMT -5
I thought the 150K was something like his "cash on hand" which got divided up by name to someone ... and then the rest of his 'estate' - his copyrighted stuff or his "persona" stuff - music, books, films, etc.<-- what is that called ? and other assets went to his siblings? He's got 4 (or is it 3) siblings/half siblings.
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Rob Base 2.0
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Post by Rob Base 2.0 on Dec 7, 2017 18:20:35 GMT -5
I thought the 150K was something like his "cash on hand" which got divided up by name to someone ... and then the rest of his 'estate' - his copyrighted stuff or his "persona" stuff - music, books, films, etc.<-- what is that called ? and other assets went to his siblings? He's got 4 (or is it 3) siblings/half siblings. he had like 5 siblings in the Partridge Family
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Rukh O'Rorke
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Post by Rukh O'Rorke on Dec 7, 2017 19:10:41 GMT -5
What is the current value of his royalties?
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zibazinski
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Post by zibazinski on Dec 7, 2017 19:11:54 GMT -5
If you have a time machine or the ability to see into the future to know precisely when you're going to die...it's a good thing. Otherwise, it's poor planning/execution turned lucky. so you don't feel a "responsibility" to leave an inheritance to kids, etc? or to leave some "legacy" charity thingee? Not at all. Not one bit.
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Bonny
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Post by Bonny on Dec 7, 2017 19:40:12 GMT -5
If you have a time machine or the ability to see into the future to know precisely when you're going to die...it's a good thing. Otherwise, it's poor planning/execution turned lucky. so you don't feel a "responsibility" to leave an inheritance to kids, etc? or to leave some "legacy" charity thingee? I think you have a responsibility not to be a burden on your kids. Anything left after that is gravy.
ETA: I think if I inherited a substantial estate from my family I might feel an obligation to help the next generation forward. But since there's no danger of that I'm just focused on not running out of money during my lifetime.
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skubikky
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Post by skubikky on Dec 8, 2017 8:02:00 GMT -5
But what about the theory in general about dying just as you go "broke". Is that a good or bad thing? If you have a time machine or the ability to see into the future to know precisely when you're going to die...it's a good thing. Otherwise, it's poor planning/execution turned lucky. He might not have been capable of planning anything. He struggled with addiction and health issues. Who is anyone to judge someone you don't know? Because they didn't leave enough money in your estimation?
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zibazinski
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Post by zibazinski on Dec 8, 2017 8:06:58 GMT -5
Did he die owing anybody any money? Then what he had is enough. I have X amount of dollars in the bank. The rest is in a trust and therefore not public fodder. He may have done the same thing.
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hoops902
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Post by hoops902 on Dec 8, 2017 8:51:50 GMT -5
If you have a time machine or the ability to see into the future to know precisely when you're going to die...it's a good thing. Otherwise, it's poor planning/execution turned lucky. so you don't feel a "responsibility" to leave an inheritance to kids, etc? or to leave some "legacy" charity thingee? Well if I know when exactly I'm going to die, I'd give all of that away while I'm living to watch people enjoy it and do good things with it. In general though, no, I don't feel any responsibility to give anyone else money upon my death (though I understand that will likely happen, since I'm going to die probably long before I "plan" to die).
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Miss Tequila
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Post by Miss Tequila on Dec 8, 2017 8:52:38 GMT -5
If you have a time machine or the ability to see into the future to know precisely when you're going to die...it's a good thing. Otherwise, it's poor planning/execution turned lucky. so you don't feel a "responsibility" to leave an inheritance to kids, etc? or to leave some "legacy" charity thingee? Nope. No one will be leaving me any inheritance. Everything I have or will have in life is because I earned it. While I do plan on leaving what I can to take care of my youngest, my oldest is well aware of the fact that she is a very smart, strong woman who is expected to earn her own way in life. Obviously if I can I will leave her something but I'm not going to feel guilty if I can't. My best gift to her is to have enough so she is not guilted into taking care of ME.
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hoops902
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Post by hoops902 on Dec 8, 2017 8:57:26 GMT -5
If you have a time machine or the ability to see into the future to know precisely when you're going to die...it's a good thing. Otherwise, it's poor planning/execution turned lucky. He might not have been capable of planning anything. He struggled with addiction and health issues. Who is anyone to judge someone you don't know? Because they didn't leave enough money in your estimation? It's not about "leaving enough money"...it's about whether it was good planning or not. As you said, he might not have been capable of planning anything...that would point to poor planning right? I mean no plan is a poor plan. The question was "is it a good or bad thing to run out of money as you die", not "is David Cassidy a good person or bad person, what's your judgement?".
FWIW, the whole idea of "don't judge someone you don't know" is a cliché that nobody really believes. Are you really trying to say that if someone asked you "hey, do you think Hitler was good or bad?" you'd say "I don't know, I didn't know the man"? In fact, our entire judicial system is based upon judging people we don't know.
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NoNamePerson
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Post by NoNamePerson on Dec 8, 2017 8:58:44 GMT -5
If you have a time machine or the ability to see into the future to know precisely when you're going to die...it's a good thing. Otherwise, it's poor planning/execution turned lucky. so you don't feel a "responsibility" to leave an inheritance to kids, etc? or to leave some "legacy" charity thingee? Surely you jest. My son is doing quite well on his own. And most charities are duping the public. So I plan on spending till I croak whether on nursing home, cruise or trip around the world. I worked my ass off for my savings/retirement money.
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Deleted
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Post by Deleted on Dec 8, 2017 9:13:24 GMT -5
Inheritances are not something that happens in my family. Either there is not much left or there is a crap ton of kids so each share is very small or both. If my mom were to kick over tomorrow, I might come into some money, but she's only 71 and traveling about 7 months out of the year all over the world, and spending money on new campers and trucks and remodeling an already almost new house when she's home, so I'm sure it's going fast. I don't care though, it's her money. As long as I don't have to pay to take care of her or, God help us both have her move in with me, it's all good.
My kids get pretty much every nickel of my money outside of retirement savings and if they apply themselves and want to go they'll get their college paid for. If after all that is done for them the first 20 years or so of their lives they can't take care of themselves and earn their own money to spend and save as they see fit, well then I guess that's on them. The only thing that does kind of get me thinking to "leave a legacy", is that while my kids are healthy now, something could happen that could leave them fully or partially dependent the rest of their lives. I'd hate to leave a disabled child with nothing.
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swamp
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Post by swamp on Dec 8, 2017 10:03:38 GMT -5
If you have a time machine or the ability to see into the future to know precisely when you're going to die...it's a good thing. Otherwise, it's poor planning/execution turned lucky. so you don't feel a "responsibility" to leave an inheritance to kids, etc? or to leave some "legacy" charity thingee? Nope. I'm providing for my kids now and will pay for their educations. My legacy to them is making them responsible and productive adults.
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billisonboard
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Post by billisonboard on Dec 8, 2017 10:24:14 GMT -5
FWIW, the whole idea of "don't judge someone you don't know" is a cliché that nobody really believes. Are you really trying to say that if someone asked you "hey, do you think Hitler was good or bad?" you'd say "I don't know, I didn't know the man"? In fact, our entire judicial system is based upon judging people we don't know. Our judicial is based on making judgments after the gathering of evidence and people having the opportunity to defend themselves. It isn't based on, "I read one news article and the verdict is ..."
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hoops902
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Post by hoops902 on Dec 8, 2017 10:30:27 GMT -5
FWIW, the whole idea of "don't judge someone you don't know" is a cliché that nobody really believes. Are you really trying to say that if someone asked you "hey, do you think Hitler was good or bad?" you'd say "I don't know, I didn't know the man"? In fact, our entire judicial system is based upon judging people we don't know. Our judicial is based on making judgments after the gathering of evidence and people having the opportunity to defend themselves. It isn't based on, "I read one news article and the verdict is ..." I would venture to say that we "know" celebrities a lot better than a jury "knows" a defendant, given the vast array of information available for celebrities and the rather minimal focus of a courtroom proceeding.
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billisonboard
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Post by billisonboard on Dec 8, 2017 10:51:26 GMT -5
Our judicial is based on making judgments after the gathering of evidence and people having the opportunity to defend themselves. It isn't based on, "I read one news article and the verdict is ..." I would venture to say that we "know" celebrities a lot better than a jury "knows" a defendant, given the vast array of information available for celebrities and the rather minimal focus of a courtroom proceeding. A properly prosecuted and defended defendant will be known to a jury better than a celebrity will be known by people reading about them in the tabloids.
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Deleted
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Post by Deleted on Dec 8, 2017 10:54:40 GMT -5
But what about the theory in general about dying just as you go "broke". Is that a good or bad thing? Depends on ones goals, half of my money goes to family and half goes to charity when I die. My thoughts on charity is I’ll accumulate all I can during my working life, live off the dividends/interest in retirement and let the money grow to a larger donation when I die. I don’t have to see the impact.
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hoops902
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Post by hoops902 on Dec 8, 2017 11:11:19 GMT -5
I would venture to say that we "know" celebrities a lot better than a jury "knows" a defendant, given the vast array of information available for celebrities and the rather minimal focus of a courtroom proceeding. A properly prosecuted and defended defendant will be known to a jury better than a celebrity will be known by people reading about them in the tabloids. Probably, but tabloids are one tiny bit of the way we get information on celebrities.
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movingforward
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Post by movingforward on Dec 8, 2017 11:43:01 GMT -5
But what about the theory in general about dying just as you go "broke". Is that a good or bad thing? If I go out with $1 left then so be it. I don't have kids so not worried about leaving anyone money. I have had a few people say "don't you want to leave your niece anything." Uh, not really...if anyone should want to leave her something it is her parents. It certainly isn't my responsibility. All of these financial scenarios where you don't dip into the principal don't matter to me. I fully plan on dipping into the principal. If I happen to die with money then the local humane society can buy a butt load of kitty condos
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