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Wills and Trusts

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  • savannah33 savannah33's Avatar 07-15-08 | 09:34 AM
  • My dh is so anal and researched for over a year and paid to just talk to different lawyers to get a feel for how things should work. He is obsessive when it comes to money.
     
    I got so sick of hearing about it I wanted a divorce if he didn't just have it done.

    We have one particular piece of commercial property right at the Atlanta airport that is over 50 acres and worth a good bit of money so that is our main concern in protecting it, not paying out the wazoo taxes on it and such.
  • Dopey406 Dopey406's Avatar 07-15-08 | 09:54 AM
  • Yeah, those taxes are a ripoff!!

    We have our set up that everything goes into a trust for the girls and we have a custodian of the money who is SEPARATE from the guardian of the children. This way, the guardian doesn't dip into the money for personal reasons and say it's for the children. Not that they'd EVER do that but our friend said he's seen it happen. So he suggested we have someone other than the guardian be in charge of the trust. Then the custodian (my aunt and Andy's dad is the backup) will disseminate the money as necessary to cover the girls' expenses (college, living expenses, etc.).

    We've also spoken with the guardians and the custodians about our wishes and they know what we'd want.
  • savannah33 savannah33's Avatar 07-15-08 | 10:00 AM
  • Yes we have seperator Executor, custodian (that's not the word used in our trust but I can't think of it) and guardians. We also have 3 named of each so that if something happens to the first one then there are 2 more in line before a court appoints one.

    Oh and in our trust it states if we get divorced that this document is null and void. We'll have to fight it out in court at that point.

    We also have it in there that college is paid for in full up till 1 MD is earned so in other words no one child can milk this fund by being a professional student.
     
  • Dopey406 Dopey406's Avatar 07-15-08 | 10:07 AM
  • Those professional students crack me up!!
     
  • savannah33 savannah33's Avatar 07-15-08 | 10:09 AM
  • Yes and I've had a few in mine and Randy's family. I could totally see Brent doing this.
     
    I was the one that mentioned putting that revision in the will.
     

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