Dallas-Fort Worth Nesties
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Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Wills, advanced directive & bills
I not actually married yet but we've been discussing wills, advanced directive and other accounts (bills, banks, etc.) and just had a few questions and would greatly appreciate your input.
Who is the executor of your will?
Who gets what in your will (as far as the house, car, money, etc.)?
For those of you that are on your parents accounts for various bills, when did it just become you and your husband? Was it important to you (or your husband) to create your own unit and have your own bills or only have your names on their minus any other family members after the wedding?
Re: Wills, advanced directive & bills
The way everything is set up now my husband gets everything. If something happens to him my brother is next in line. That will all change once the baby is born.
I got off all of my parents accounts as soon as I could. Once I was out of college my name came off of their accounts and their name came off of any accounts I had. DH had his dad listed on his checking account when we got married - by accident. That changed when we opened a joint account. In my opinion - once I got married (and really before that point) my parents had no business in my finances.
I agree with ya'.
Who is the executor of your will? My Husband. And I am his. If we both die, it will be my mother, then his mother.
Who gets what in your will (as far as the house, car, money, etc.)? My husband gets everything. If we both die, my son gets it all.
For those of you that are on your parents accounts for various bills, when did it just become you and your husband? Was it important to you (or your husband) to create your own unit and have your own bills or only have your names on their minus any other family members after the wedding? n/a - I was off my parents accounts way before I even met my husband.Executor - DH and I am his. In the event of a simultaneous death, then my sister is alternate Executrix, followed by my BIL.
Beneficiary - DH gets everything, if he doesn't survive me, then my sister, if she predeceases me, then my mother, if both predecease me, then my nephew.
Medical Power of Attorney with attached Directive to Physicians - DH, then sister then mother as alternates.
I've been off any parent accounts and vice versa since sometime during college and that was a looooong time ago.
My mom signed on my bank account when I opened it at age 16. Then when DH and I got married, I wanted to take her off and and DH, but the bank said I couldn't do that without closing that account and opening another one. So I left my mom on the account, which works out well because it's a small bank and she lives closer to it than we do so sometimes she'll do banking errands for us if she's going for herself.
As for wills, DH and I are each other's executor. My mom is secondary the executor of both of our wills. DH's parents are about 15 years older than my parents and they are not in great health, so we didn't want to burden them with that task. We don't have kids yet, but we named my mother as the guardian and trustee for any kids we may have. We left everything to each other, with any future kids secondary, and to our parents if we have no kids at the time of death.
Pretty much the same as everyone else.
Executor - DH then my Dad
Beneficiary - DH then my Dad (until we have kiddos)
Med POA - DH then my sister (I don't trust my mom to pull the plug)
Accounts - just us. We each have our own checking account and we have shared savings and investments.
James Sawyer 12.3.10
Leo Richard 9.20.12
We haven't done wills yet, but will be doing it soon.
DH will be executor on all of mine, and I will be for his. With my mom as a secondary on mine and possibly DH's (she is closer so if something were to happen and needed immediate attention she is much closer to make that decision). Our child will be getting everything in a trust with my mom as the executor should we both die.
My mom is not on any of my accounts but I am actually having my name put on some of her stuff, I am the executor and sole heir to anything she has when she dies, so figure it will make it easier for me to take possession of everything when she does die.