Mardi Gras Audrey
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So well rounded, I'm pointless...
Joined: Dec 25, 2010 18:49:31 GMT -5
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Post by Mardi Gras Audrey on Sept 2, 2015 20:32:59 GMT -5
snapdragonI live in CA but the will was drawn up when I was in the military. they didn't mention filing it with the court. They gave me all the copies that were signed/notarized. I don't think they could file it with a court because they wouldn't know which court to file with (I have a "CA will" that was drafted by a military attorney and signed/notarized in TX). I don't think it had which CA county I was a resident of, just that I was a "CA resident". I'm pretty sure DSM may have it. I think I would have given it to her back then as she and my Dad were "next of kin" and I wanted them to not have to search through my home in TX if anything happened to me (I figured they could present it if they had to fly out or go anywhere else to take care of my estate). I really need to look into this...
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thyme4change
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Post by thyme4change on Sept 3, 2015 8:14:40 GMT -5
Don't forget if you die the kid gets some SS until 18. Mostly you are thinking of the child, daycare, food, clothing, education and assume SS will give you a few hundred to help. I think many overlook this & it generally isn't just a few hundred. IIRC my kids will get somewhere around $3500/month in SS benefits. IMO that is huge & makes million dollar life insurance policies totally unnecessary for most people. Wow! That is $42k per year - more per year than what half the population earns! I always assumed it would be a much smaller number. Sweet - more for me if my husband kicks.
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Deleted
Joined: Sept 30, 2024 0:24:26 GMT -5
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Post by Deleted on Sept 3, 2015 8:29:37 GMT -5
I think many overlook this & it generally isn't just a few hundred. IIRC my kids will get somewhere around $3500/month in SS benefits. IMO that is huge & makes million dollar life insurance policies totally unnecessary for most people. Wow! That is $42k per year - more per year than what half the population earns! I always assumed it would be a much smaller number. Sweet - more for me if my husband kicks. They put the survivors benefits on your SS statement. If I died my kids would each get $1110/month until 18. Max of $2741. Luckily, I only have two kids, I'm not sure how they do it once you hit the max. Do they divide the max by number of kids or does the third one and up get screwed? I mean, I can see if there is one guardian getting the money and they just spend it equally, but what if the kids get divided up after your death?
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Wisconsin Beth
Distinguished Associate
No, we don't walk away. But when we're holding on to something precious, we run.
Joined: Dec 20, 2010 11:59:36 GMT -5
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Post by Wisconsin Beth on Sept 3, 2015 10:35:53 GMT -5
I'm with MPL, I think if I kick the bucket, the benefits max out around $2,500 a month for 2 kids. But Angel's got 3, so maybe hers would be higher for the additional child? And like another poster, DH and I make close to the same salary. If the house was paid off, either of us could swing the bills alone. We've got $250K on each of us. My logic was $50K to pay off the house; $100K for college and another $100K to pay any medical bills, funeral and mourning time for DH and the kids. There's another $30K or so from work and my deferred comp (the balance of which I'm not looking at right now and you can't make me! ) And the cherry on top would be the SS income.
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Deleted
Joined: Sept 30, 2024 0:24:26 GMT -5
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Post by Deleted on Sept 3, 2015 10:57:48 GMT -5
I'm with MPL, I think if I kick the bucket, the benefits max out around $2,500 a month for 2 kids. But Angel's got 3, so maybe hers would be higher for the additional child? I think Angel's is just higher because she makes good money. SS doesn't care how many kids you have, they just list a per child amount, spouse caring for your child amount, and the maximum they'll pay. I'm just curious how they handle the actual checks if you have more kids. My ex is remarried with two other kids. His max is something like 4K, but it's $1400/child and $1400 to his spouse caring for his children. Does his spouse and the oldest get $1400, the second child get $1200 and the youngest nothing or do they change how they divide and everyone gets $1000? Probably morbid to be thinking this, but I wonder how it works.
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justme
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Post by justme on Sept 3, 2015 11:01:12 GMT -5
It's based on how much you earn. My fictional kiddos could get up to 3000 something if I kicked the bucket.
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snapdragon
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Post by snapdragon on Sept 3, 2015 12:47:43 GMT -5
snapdragonI live in CA but the will was drawn up when I was in the military. they didn't mention filing it with the court. They gave me all the copies that were signed/notarized. I don't think they could file it with a court because they wouldn't know which court to file with (I have a "CA will" that was drafted by a military attorney and signed/notarized in TX). I don't think it had which CA county I was a resident of, just that I was a "CA resident". I'm pretty sure DSM may have it. I think I would have given it to her back then as she and my Dad were "next of kin" and I wanted them to not have to search through my home in TX if anything happened to me (I figured they could present it if they had to fly out or go anywhere else to take care of my estate). I really need to look into this... Well one of my best friends is a paralegal and she said it was best to file it. It might have just been our particular situation on why this was done. But mom lives in OR right now and we redid everything while she was visiting me in WA.
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thyme4change
Community Leader
Joined: Dec 26, 2010 13:54:08 GMT -5
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Post by thyme4change on Sept 3, 2015 18:40:33 GMT -5
I'm with MPL, I think if I kick the bucket, the benefits max out around $2,500 a month for 2 kids. But Angel's got 3, so maybe hers would be higher for the additional child? I think Angel's is just higher because she makes good money. SS doesn't care how many kids you have, they just list a per child amount, spouse caring for your child amount, and the maximum they'll pay. I'm just curious how they handle the actual checks if you have more kids. My ex is remarried with two other kids. His max is something like 4K, but it's $1400/child and $1400 to his spouse caring for his children. Does his spouse and the oldest get $1400, the second child get $1200 and the youngest nothing or do they change how they divide and everyone gets $1000? Probably morbid to be thinking this, but I wonder how it works. They must divide it up between the kids evenly. I can't imagine they give what amounts to $100,000 to one or two kids and then just put their middle finger up at all the other kids and say "Nuts to you, suckers."
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