Living Wills and Trusts

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Don't know whether this goes here:My mom has made a Living Will for me. My dad who passed in 2009 has given an equal share of his trust. Right now I can access one trust for living expenses. Haven't done it yet. Want to real badly. Is anyone know what their financial situation will be when their parents are gone?

I don't even know what's going to happen to me after my parents die. D: I could end up in a group home or some sort of special living arrangement for people with special needs. My parents do want me to have a caregiver to care for me, but the only issue with that is I'd be living on my own, and I don't like having to be alone. D: I get scared of things that could happen about it because of severe anxiety.

My mom's Living Will was made in 2007 when she had lung cancer. I have read it whether It will be updated it I doubt it. I get the house I lived here since 1974. My father trust is from 1996 & 2008. There is no set amount of money for any of the 4 siblings. Have to get an attorney to get living expense from my father. So I will be taken care of .
Want to live independently from my mom.

good luck to you hope you find a decent attorney.

i don't even know right now. my parents are both in good health and i haven't heard them discussing anything about a financial trust fund or will, just college savings. i don't think i want to live in a group home, but i am getting some help with my future living situation.

My mom left the the living will out in her bedroom where I found out and read. My father trust came in the mail a month after his death.2 things I should explain:

1. My mom said she would take care of me before 2007 and after.

2. My dad divorced my mom sometime in the 1960's or 70's and remarried. It was a bitter divorce.

I'm not really thinking about it. Neither of my parents has much money. My grandparents do, but I won't suck up to them or anything. If they end up leaving me something, that's cool, but I wish they would stick around forever.

I have no idea who I would leave my stuff to. I can't imagine anyone wanting most of it except for the video games. I'd probably leave those to my friends at the game store and donate the rest to a Goodwill or something. Not that I'm planning to die anytime soon.

Please distinguish between a WILL and a LIVING WILL (aka in the USA as an "advance medical directive").

In the USA, a "living will" is about what the testator wants done in the even they can no longer speak for themselves in medical matters. It's often accompanied by a durable general power of attorney.

A "will" is about what the testator wants done once they have passed.

In my case, my parents pretty much have it set up so the other gets 100%. When both are gone (or the partner predeceases and no new will has been enacted), the estate is split 50/50 between my sister and I.

How much it will be by the time both are gone is a big question. The land and property can be of substantive value, but much will depend on what land and property is going for when it's time to liquidate. Prices aren't really going up as they used to. Who knows what it will be at that time.

My dad doesn't have much apart from his super which got nailed by the GFC and his car, and I'd be happy if they're left to my stepma.

My mum has her house. I suppose if she were to pass away the house would go on the market and the proceeds split 3 ways between me and my brothers after paying off her debts. She doesn't have a will yet AFAIK though (she's 62, she better get a move on).

I think aspies can be legally vulnerable in these kinda situations after a parent passes away. Opportunistic and selfish relatives could barge in and try to take over things. A good example is the house your parent might leave behind while you're still living at home; there's nothing legally stopping a sibling and their family from inviting themselves to live at the house rent free within the period between death and the finalisation of the estate. Thereby overwhelming you with a full noisy house and forcing you onto the street.

If you have care needs make sure that plans for your care after their death are explicitly stated in their will.