On Zib's Behalf I am sharing her very sad news.

[Deleted]

Oct 28, 2015 15:49:01 GMT -5 swamp said:

Oct 28, 2015 14:47:45 GMT -5 laterbloomer said:

I don't know a lot about trusts but isn't it usually a trust or an executor, not both? I don't really know how they work. Isn't this trust actually for his kids?

Items not already in the trust go though probate and get put in the trust by the executor.

So what is in the trust? What does zib get from the trust? I don't understand.

[zibazinski]

I get the income from the trust and up to 100k a year in case I need it. But everything of his goes into the trust. That would include the things she stole from the office. The executor does not have the authority to disperse anything to her ever or to her children until I die. I plan on attending her funeral btw! 

[zibazinski]

I hope I go into the most expensive nursing home and linger there for decades and drain every last dime. 

[saveinla]

Oct 28, 2015 16:32:45 GMT -5 laterbloomer said:

Oct 28, 2015 15:49:01 GMT -5 swamp said:

Items not already in the trust go though probate and get put in the trust by the executor.

So what is in the trust? What does zib get from the trust? I don't understand.

Regardless of what is in the trust or not, you cannot come in and take anything you want if you are the ex-wife. There are proper methods to do everything and there is a reason that you are the ex-wife.

[Deleted]

Wow, that is a big change from not inheriting anything.

[Deleted]

Oct 28, 2015 16:42:58 GMT -5 saveinla said:

Oct 28, 2015 16:32:45 GMT -5 laterbloomer said:

So what is in the trust? What does zib get from the trust? I don't understand.

Regardless of what is in the trust or not, you cannot come in and take anything you want if you are the ex-wife. There are proper methods to do everything and there is a reason that you are the ex-wife.

It could be just a matter of wording. It could be the ex was a mother accompanying her son, who did have permission from the executor. It sounds like whoever said it's the executor who messed up is right.

[zibazinski]

Well, I don't really. Just the income from everything. Until I die. But she-the ex wife inherited another two million dollars. But that's not enough. Her kids are pissed because she lied to them and told them THEY inherited the two million. So now they're scrounging. Ugh. 

[zibazinski]

Yup, she did mess up big time and even if she fixes it, I don't trust her anymore. 

[zibazinski]

The executor, I mean.

[Deleted]

Oct 28, 2015 16:41:18 GMT -5 zibazinski said:

I hope I go into the most expensive nursing home and linger there for decades and drain every last dime. 

[Deleted]

Zib I get that you don't like the kids, but your DH loved them.

[zibazinski]

They're just like their mother. Poor DH. 

[Deleted]

But  your DH loved them.

[mollyanna58]

Oct 28, 2015 16:41:18 GMT -5 zibazinski said:

I hope I go into the most expensive nursing home and linger there for decades and drain every last dime. 

No, no, no.  Rent the penthouse suite in a 5-star hotel, with full-time caregivers.

[Jaguar]

Oct 28, 2015 16:53:26 GMT -5 laterbloomer said:

But  your DH loved them.

So what, that was his problem, not Zib's.

[zibazinski]

I turned DH into a NCIS junkie and now it's hard to even watch the show. I have 4 taped episodes that need watching. 

[mollyanna58]

Oct 28, 2015 16:53:26 GMT -5 laterbloomer said:

But  your DH loved them.

Yes, he did.  And they will eventually get their share of the estate.  But they never respected Zib's position in her DH's life. 

[zibazinski]

Lord knows the X never did. She wanted the divorce and then when she got what she wanted, she didn't want it after all. Changed her mind but too late to get DH back. Sour grapes.  You'd think after all these years and all that money, she'd have happily moved on. 

[Deleted]

Oct 28, 2015 17:21:06 GMT -5 Jaguar said:

Oct 28, 2015 16:53:26 GMT -5 laterbloomer said:

But  your DH loved them.

So what, that was his problem, not Zib's.

Oh, excuse me. I thought honoring DH's wishes was part of the package of her loving him. My mistake

[zibazinski]

His wishes are not being honored. He never expected his ex and her brood to be stealing with the executors permission. 

[Deleted]

That part is on them. We expect more from you. It would not be his wishes for you to squander his estate just so the kid's don't inherit.

[zibazinski]

Well, who knows what the future will bring? DH was getting better, then he didn't.

[mollyanna58]

Oct 28, 2015 18:23:06 GMT -5 laterbloomer said:

That part is on them. We expect more from you. It would not be his wishes for you to squander his estate just so the kid's don't inherit.

No, but there's no harm in fantasizing about it.

[NastyWoman]

Oct 28, 2015 17:20:48 GMT -5 mollyanna58 said:

Oct 28, 2015 16:41:18 GMT -5 zibazinski said:

I hope I go into the most expensive nursing home and linger there for decades and drain every last dime. 

No, no, no.  Rent the penthouse suite in a 5-star hotel, with full-time caregivers.

[Value Buy]

Oct 28, 2015 15:49:01 GMT -5 swamp said:

Oct 28, 2015 14:47:45 GMT -5 laterbloomer said:

I don't know a lot about trusts but isn't it usually a trust or an executor, not both? I don't really know how they work. Isn't this trust actually for his kids?

Items not already in the trust go though probate and get put in the trust by the executor.

Learned something new tonight. I thought the trust had to be funded with the items before a person died.
Never knew you could do it after death.

Very good example of how the wealthy get special breaks from the IRS.

[taz157]

Oct 28, 2015 20:39:35 GMT -5 Value Buy said:

Oct 28, 2015 15:49:01 GMT -5 swamp said:

Items not already in the trust go though probate and get put in the trust by the executor.

Learned something new tonight. I thought the trust had to be funded with the items before a person died.
Never knew you could do it after death.

Very good example of how the wealthy get special breaks from the IRS.

Not just the wealthy can put things into trusts. Others can do it too...

[Value Buy]

Oct 28, 2015 20:41:37 GMT -5 taz157 said:

Oct 28, 2015 20:39:35 GMT -5 Value Buy said:

Learned something new tonight. I thought the trust had to be funded with the items before a person died.
Never knew you could do it after death.

Very good example of how the wealthy get special breaks from the IRS.

Not just the wealthy can put things into trusts. Others can do it too...

Very true, but how many people have a trust for $100,000 in assets?
Maybe a living will, etc
How many people with a few million have a trust?
Quite a high percentage.
I understand a trust has to be established and then the property goes into the trust.
And funding property into a trust after you die, is sort of back dooring the system.

[wvugurl26]

Oct 28, 2015 20:41:37 GMT -5 taz157 said:

Oct 28, 2015 20:39:35 GMT -5 Value Buy said:

Learned something new tonight. I thought the trust had to be funded with the items before a person died.
Never knew you could do it after death.

Very good example of how the wealthy get special breaks from the IRS.

Not just the wealthy can put things into trusts. Others can do it too...

Reminds me of being in public accounting. We managed a handful of trusts for clients. One was because the wife heard one of her friends had a trust and she wanted one too. Tried to talk them out if it but no go. Such a waste of money.

[Deleted]

wvugurl26 Why is a trust a waste of money?

[Value Buy]

Oct 29, 2015 8:20:10 GMT -5 laterbloomer said:

wvugurl26 Why is a trust a waste of money?

Even a simple trust can cost maybe, $3,000 for someone to start. Multi milionaires the cost is much higher due to the quantity of assets to be protected.
If you do not have several million to fund one after it's established and just a couple of inheritors, you can just leave it to them in a will without too much government confiscation.