How many have remarried when they're close to 80 or over 80? (55, physically)
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With a simple estate as described above, it's easy to avoid probate. Just make sure the person you wish to inherit the house or car is on the title, in the case of a home it should be stated "joint tenants with rights of survivorship". With bank accounts, investment accounts, annuities, or insurance policies just put the intended inheritor as the beneficiary on the account.
Yes it is simple, I think it's much easier when you sell the home early enough
I love just putting beneficiaries on accounts So easy
My son inherits the IRA until actual $ is going into the account. Of course it could be more $ for him the longer I live, I am just staying that is the bare minimum I will not spend/touch.
They would be very elderly needing a companion if just for the sake of safety. The commitment of marriage is of upmost importance this late in the game. 50/50 chance of having someone help you preventing you from going into a home (which is what, a 1 in 4 chance?)
It's not a time to be picky. I would absolutely get re-married if possible
After Dad died Mom decided to sell their house. As soon as the men in her care center heard she owned a home you wouldn't believe the number of marriage proposals she got.
It was both funny to the two of us and irritating. Old guys were still trying to romance her in hospice.
It's also a pretty sad commentary on our final choices. Nearly all of them were destitute in order to receive care and like another poster here said, Mom was done with taking care of somebody besides herself.
Getting married that late in life sounds insane to me, but to each their own...
We got a kick out of my grandpa at 94, but in his case, he was living in a religious retirement home and his faith was #1 to him, so he could not "live with" his 86-yr-old girlfriend without being married. He said just sitting together on the love seat was not enough.
I was independent (personally and financially) before I was married, independent between my marriages, I'll be independent if I'm the last one standing after DH. I'm actually pretty independent even while married, so not surprising. I will not tie myself financially, or legally, to anyone again. Not that I don't love my husband, and would do almost anything for him, but a lot of things have to be negotiated and compromised on in a live-in or permanent relationship, and I am not willing to commit to that sort of thing with anyone else. I found a guy who accepts me as I am, and whom I can trust in completely, and after 25 years together, I don't think I'll ever find that again, and I won't settle for anything less. If I need companionship, I've got friends. If I need affection, I'll get a BF or a dog. If I need care, I can afford a caregiver, AL, or CCRC.
With a simple estate as described above, it's easy to avoid probate. Just make sure the person you wish to inherit the house or car is on the title, in the case of a home it should be stated "joint tenants with rights of survivorship". With bank accounts, investment accounts, annuities, or insurance policies just put the intended inheritor as the beneficiary on the account.
If you put anyone (other than maybe the legal spouse - not sure about it) on the title as the joint tenant with rights of survivorship, I think that is treated as a gift to the person which you have added to the title, and you have to pay gift tax on it. I am not 100% sure, but I think that is the case. Maybe someone more knowledgeable can comment about it. I have put property in a revocable trust, where it goes to the successor trustee after I die.
Some places (eg, San Francisco) have an option of TOD (transfer on death) beneficiary for real property, same as if the property were a bank account. The simple TOD form for property costs about $100 to file at the City Hall, and that is the entire procedure. But I think that might be uncommon (Boston and NYC do not have this TOD option for real estate).
PS- actually, a quick search shows that quite a number of states have the option of TOD deed. I didn't realize it was that common (unfortunately, still not available in Massachusetts, where it would be of interest to me). Here is a link:
After Dad died Mom decided to sell their house. As soon as the men in her care center heard she owned a home you wouldn't believe the number of marriage proposals she got.
It was both funny to the two of us and irritating. Old guys were still trying to romance her in hospice.
It's also a pretty sad commentary on our final choices. Nearly all of them were destitute in order to receive care and like another poster here said, Mom was done with taking care of somebody besides herself.
That's terrible but not surprising
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So easy
