[Closed] Ethical dilemma - wills

my e-mail is in profile and I will out live you 😉

Do what you feel is best if you are not close to the family or they have no real need why not donate it to something you care about? Why not release lots of it before you die and do good works you will see the results of in your lifetime. Why not piss it up the wall enjoying your last days in hedonistic glee.

Make a good case 🙂

Sell up now, and have a whale of a time, yourselves...?

I edited [ wanted to make sure I got the gag in first]To be fair I have no need either except to pay for my kids through uni but I am hoping a parent dies about the right time to fund this ....if only this was a joke oh the stigma of [posh ] working class angst

A quarter of a millions worth of tandem would be a nice tandem...

Seeing as money devalues so rapidly, then why not invest it in something a bit more permanent and stable?

LIKE A DONKEY SANCTUARY ON THE ISLE OF MULL!!!!!!!! 😮

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Different world, isn't it. When I die, I'm hoping to have broken even.

I guess what I'd do in your case is leave some of it to friends. Plenty of mortgages to be paid off, presumably. For the rest, pick a charity.

It will need to go to probate, so theres some legal costs,and dont forget funeral costs etc.

Donate it to the Singletrack forum writers guild, thats us, to buy hob nobs and tea.

Just waiting for someone to suggest leaving it to a neurological research charity for studies into injuries caused be head impacts. Damn, I just did, didn't I. How pedictable is that 😉

Buy a helmet?

or, find a small local charity and drop them 10 or 20,000. Big charities would burn that off in no time but to a small organisation it's fantastic. The difficulty is in doing the research to find someone small and local who you think does good work which is why I suspect the big organisations tend to be on the receiving end of the big legacies so often

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Junkyard - Member

Why not piss it up the wall enjoying your last days in hedonistic glee.

Even us would have trouble get thru that much in pure hedonistic glee before we died. Might hasten the end

Regardless of whether they are relatives etc, if you have not met them in your life then they are practically strangers so why will it to them? They don't deserve it nor need it especially if they are well off.

Do something good by willing it to those that really need the money. i.e. those that are kind hearted and those who help others and definitely not to those that just because they are your relatives.

Help those that deserve it.

Or you can always assist me in my raise to become Dear Leader with your will.

🙂

On a more serious note its all tied up in property - we can't really get at it now and we are close to some of the family on both sides can we make a few folk richish out of a bunch of them?

Even us would have trouble get thru that much in pure hedonistic glee before we died.

Ooh I dunno; have you seen the price of a pint these days?? 😯

In seriousness; considering you're both in good health, then you can realistically expect to live another 30, 40 years or more. How much will £250000 be worth relatively, by then?

DONKEY SANCTUARY!!!!

A quarter of a millions worth of tandem would be a nice tandem

You might even be able to get a centuplycle!

Legacies are so important to charities unrestricted funding you can use for general running costs is very rare to find. Is there anyone who's helped you or your close family?

We've just got a legacy from a visually impaired couple who died quite close together and this means we can carry on, even after council funding cuts, to continue to help other people like them in my local area.

Pick a local charity rather than national or regional if you can as we don't have the money to employ huge teams of people to market the charity we're too busy ACTUALLY helping people.

my great grandfather on my mothers side was loaded. He spent the lot on fast living and left nothing to anyone. fair play to him. rock n roll.

Kev

elf - in 30 years it will be worth a lot more - its all property don't forget. Its more if we die in an accident soonish. Without wills my parents get half and julies nieces get the other half. None of them need it at all

I wouldn't automatically leave it to family, and certainly wouldn't leave anything to family that I've rarely seen, why not leave it to either the family members that you think would get the most out of it or to friends. Surely everyone knows a good friend that is great but never seems to get the breaks financially.

Other than that I would give to charity before distant family.

TandemJeremy - Member

... can we make a few folk richish out of a bunch of them?

Yes, why not as for the rest you can give them say £50 each.

🙂

Legacies are so important to charities unrestricted funding you can use for general running costs is very rare to find

+1 for that. It's worth about 10 times it's value in restricted funding because you can just use it where you like and when you like. gold dust

Have a clause in your will for a framebuilder to build 10-15 TJ memorial bikes to be distributed to each member of the family.

Actually I like that idea so much I'm gonna do it.

EDIT

Naturally couples could get a tandem.

You work in the 3rd sector too Leffeboy?

😀

I am liking the charity ideas - Julie said that as well. Unpopular charities that don't get much in the way of legacies sounds good

TJ - Julie was right unpopular charities i.e. (visually impaired) like mine aren't 'sexy' charities people give to hospices, cancer, armed forces which are all worthy but attract money easily.

Is there a cycling charity for people knocked off bikes / kids unable to afford bikes / local kids cycling group?

Its more if we die in an accident soonish

TandemJeremy - Member

I am liking the charity ideas - Julie said that as well. Unpopular charities that don't get much in the way of legacies sounds good

Charity is always good but do make sure you are donating to charity that actually help others and not just lining their own pockets.

🙂

Don't get too excited junkyard - I ain't deaded yet

Chekw its [b]VERY RARE[/b] charities are lining their own pockets another urban myth there are some con artists but most of us are working for buttons because we want to make a difference 'somewhere' I earn as much as someone full time in a supermarket for doing a senior project managers job.... no-one I know is doing it for the money sweets!! 😀

As bagpuss says - there are definitely some folks out there who are making more that you might want out of it but on the other hand it can be difficult to find staff for a bigger organisation unless you can pay something sensible. It's a tough balance. That's why local and small is better than the big folks with big marketing budgets to send you mail about legacies. The downside is that you then need to do the legwork of finding them

(...runs off to start cutting brake cables on tandems...)

*joins leffe*

I'll split it with you we can say its a joint bid we've put in.... partnership working at its best 😈

bugger the lot of them, give the lot to me.

I wouldn't be assuming that there would be any left after you've paid for nursing/care costs.

Imagine you've just been given £250k but told that you have to give it all away. What would you do. Job done.

£250k would fund a lot of helmet research FWIW.

druidh - its assuming we have gone under a bus next week - this is a rewrite from the wills 20 yrs ago.

just give it to someone that cares about the mountains and people, http://www.ogwen-rescue.org.uk/

Normal Disclaimer First - I write wills for a living. Not touting for business just a few thoughts.

Firstly make sure those close to you are suitably catered for with an amount of money that will make them remember what you did for them without necessarily changing their lives.

Then pass the remainder into the 'Tandem Jeremy Charitable Trust' this means that you don't have to decide now which charity cops the money, you can set out broad objectives and your Trustees will deal with the distribution after your death. You provide a letter of wishes that gives them guidance on what you want the money to achieve and they use their discretion to achieve this.

The trustees can also claim gift aid on their distributions (subject to limits) so your money goes a lot further.

Tandem Jeremy lives on and continues to do good, trustees can make sure the right organisations benefit.

It is less complex and expensive than you think to put this sort of arrangement into place.

Nick.

P.S. In my opinion the Donkey Sanctuary has enough money, give it to some of the mental health charities instead.

Leave it to something you believe in

http://www.cyclehelmets.org

not these guys http://www.bhit.org

Sounds like you're doing well, why not work even less hours to spend more time internet-arguing? 😛

Seriosuly, tough call, I need to sort this myself too. I'd factor in the following:

Closeness, poverty, effort to maintain contact with you.

Anyway your legal fees will hoover it all all up 😉

Hmm interesting, I will be facing the same dilemna. Have kind of thought that anything I inherit should try put in a house and pass to nephews (only two so thats easy) but anything thats mine will get spent on a pool table, a bike park in the back yard and booze and fags (which I will take up again if I make it to 70 - why not ?) when I retire.

Oh yes and a Mexican pool boy.

*mods - please file thread under middle class d.i.n.k.y dilemma #22154*

Larger charities have dedicated legacies teams. They can help you draft your will and give tax and legal advice. e.g.[url= http://legacies.cancerresearchuk.org/ ]CR UK[/url] or[url= https://www.oxfam.org.uk/donate/legacy/index.html ]Oxfam[/url]

Roughly similar boat (my gf has (not my)kids, they will get her house etc, which is fine by me and I will make sure that if she outlasts me she is provided for) but I have no dependents etc, I'm slowly building a list of charities (of a smaller, localer type and who I don't feel are a professional business with the possible exception of Barnados) to % the residue between.