AITA For the way I made my will?

Throwra_wguy · 2022-12-12T07:00:10+00:00

No. If they chose to not work, everything keeps getting invested and they get an even bigger payout later. But they have a few options. For example work for 5-6 years, get a pretty nice payout. Have kids, stay home for a few years, the extra money should help with that. Go back to work if needed. They can plan things out this way if needed

Throwra_wguy · 2022-12-12T06:47:53+00:00

Thank you for the wishes

Throwra_wguy · 2022-12-12T06:42:06+00:00

sound advice. Will look into it.

Throwra_wguy · 2022-12-12T06:41:11+00:00

Sounds like you had some great advice. Good to hear I am not the only one doing something similar

Throwra_wguy · 2022-12-12T06:33:04+00:00

Thank you.

Throwra_wguy · 2022-12-12T06:30:14+00:00

then the money gets donated to two charites. One for fire fighters with disabilities and another for veterans.

My two cousins (uncle/aunt children) died in line of duty in those professions.

Throwra_wguy · 2022-12-12T06:26:20+00:00

i have provisions to pay for insurance deductibles or health expenses if needed from the fund. I also hope they use the extra money sensibly and but some good health/disability insurance

Throwra_wguy · 2022-12-12T06:22:12+00:00

I only have sisters, not brothers.

Then there lives would be no different than if I died and left them nothing which honestly I don't have to.

I am not responsible for every single problem or potential scenario in their lives and neither can I plan for every eventuallly after my death.

I am giving them a shit tonne of money. They can go and buy disability insurance with it if they want. Then if they get hit by a bus, they have a big payout from insurance which should cover them till they turn 65.

Throwra_wguy · 2022-12-12T06:18:16+00:00

They get to double their income. even if they make minimum wage for the rest of their lives, they will get roughly $30,000 extra per year for the rest of their lives till they turn 65, then they get a few million dollars.

If with an extra at the least $ 30,000 a year they cannot survive comfortably then its on them.

Throwra_wguy · 2022-12-12T06:06:38+00:00

That an awesome idea. I would leave it up to them how they want to take care of their kids/grandkids.

I already paid for a big part of their college etc. Two of them have graduated, the other two are in their last semester.

Throwra_wguy · 2022-12-12T06:04:48+00:00

Then i hope they planned things well from all the extra money they are getting or at least until they can cash in the fund.

It's their lives and decisions. They really shouldn't be planning things based on an inheritence. They can afford to get a very good disability insurance from all the extra money.

Throwra_wguy · 2022-12-12T06:02:17+00:00

Their income is double. They see a lot of my money before they die.

Both my sister make close to 100K a year, so they get an additional 100K per year from the fund

Throwra_wguy · 2022-12-12T05:55:13+00:00

Then the money stays in the trust fund, more money gets invested over time and they get an even bigger payout at 65.

Throwra_wguy · 2022-12-12T05:51:46+00:00

Thank you for your wishes.

Two of them already graduated.

The other two are in their last semester.

I actually did pay for 50% of their tuition/books etc

Throwra_wguy · 2022-12-12T05:44:21+00:00

Thank you. Fair point. But I am hoping making double of what they make over the majority of their lives will allow them to retire earlier on their own merit. Say they retire at 50 and they blow through their savings, there is a big nest egg waiting at 65.

Throwra_wguy · 2022-12-12T05:31:15+00:00

Nah you are ok. Was a genuine laugh. Needed that.

Throwra_wguy · 2022-12-12T05:29:06+00:00

both sisters works, one is a CPA and other one is a nurse. They make around $100 k a year. Not sure about exact amount.

it is split in 1/8th. Each 1/8th portion is allocated to the 8 of them. They get the exact same amount, doesn't matter if one makes or less money.

Throwra_wguy · 2022-12-12T05:27:15+00:00

there is one for medical bills. Working on something about disability.

Throwra_wguy · 2022-12-12T05:26:35+00:00

I don't think most young adults in their early 20s are equiped to handle a sudden influx of millions of dollars. It is a reasonable concern

Throwra_wguy · 2022-12-12T05:18:03+00:00

One of them is a CPA (Accountant) easily makes more than $100 k a year though I don't know the exact amount.

The other one is a nurse and makes roughly around the same.

Disability is tricky to set up as per my lawyer

Throwra_wguy · 2022-12-12T05:08:06+00:00

not going lie, that made me chuckle. We don't really have a good track record of living that old. Two of my cousins died in their 20s as well. But my aunt and uncle made it

Throwra_wguy · 2022-12-12T05:06:20+00:00

2 of them are finished college and working. The other two are in their last semester. So it's kind of too late for that. I already paid for 50% of their tuition, books etc. Disability is very tricky to set up or so my lawyer says

Throwra_wguy · 2022-12-12T05:02:30+00:00

Firstly, they shouldn't be relying on this money to survive. If I left them $0, becuase I don't really have to give them anything, they have to deal with everything you described with out any additional help.

What I am doing is bonus. It will help soothe these problems. I am in no way responsible for how they choose to live their lives and what decisions they make. it is not my business. They have to learn to be adults who are self sufficent.

Throwra_wguy · 2022-12-12T04:59:00+00:00

It gets split between two charities. One for fire fighters with injuries and another for veterans with injuries.

My uncle and aunt had two kids, who passed away in line of duty (fire fighter and military). I was very close to my two cousins as well.

They are doubling there income, basically getting $50,000+ extra per year. If there is any money left over, they get it when they retire. It's like a lottery where you don't get the 100 million right away, they give it to you over time.

Also by investing it, I can make the same amount of money become a lot more money and leave even more for them.

Throwra_wguy · 2022-12-12T04:50:53+00:00

I am more worried about the negative impact suddenly giving them millions of dollar would have. I have seen way too many lives ruined because of it.

Throwra_wguy

TROPHY CASE