End your programming, do things that matter.
As we get ready for one of the biggest holidays of the year that focuses on being thankful, I talk about my feelings on the subject this year. Hopefully, you don’t think it is just me spouting my particular brand of subjects but that I offer a perspective of what thankfulness means in a more existential sense.
Reference link: Ukrainians Are Changing Their Minds on the War
Perspective is always valuable. It is really hard to get perspective alone unless you have a mirror or a camera to see what you are doing. In order for me to get it, I need to get some air, maybe even get out of the pool and watch my video using a swimming analogy. I am not going to spoil the podcast, but I do a little self analysis today. You may be surprised at what I am thinking.
Tomorrow is Day 0. That is the day of the stem cell transplant and the beginning of the end. Hopefully, it is the lowest point in the entire process. I was thinking of writing about what the facilities look like when you have to move away from home but I think that is best for another day. Today is going to be more somber and vigilant.
In the family housing building, there is a tree with a bunch of blank tabs representing the leaves of the tree. The building shares facilities with the Ronald McDonald house. If you have been fortunate to not know much about Ronald McDonald, this is a place to stay when children are sick. I assume that the tree is for anyone to add a leaf to, but it looked to me that these were wished primarily to kids.
I took a random photo of a book that contained former hanging leaves. Talk about perspective… I don’t care what is going on in the world, some people have much bigger problems. While I consider what I do important and somewhat cathartic, there is nothing that compares innocence stolen by disease.
This tree is kind of my version of the Vietnam wall. While some of the leaves made it, some did not. It wasn’t for lack of trying. Whatever happens in my journey from this point on, we have had 26 years married, fought and loved, raised children to adults and made the world better together. While I hope for the best, I go into the process knowing that there are risks.
End Your Programming Routine: I want to keep it short and simple today. There are greater powers at work here. Because this was just a random picture, there were some leaves that were just heart breaking on that tree. It can almost always be worse. I am thankful that there is still a good chance to move beyond this.
It is sometimes the little things that move us from one thing to another. I walk through Black Friday to spending some time in the shop. I started work on my sofa table to ultimately hold my Hi-Fi system. This is the final piece in my office setup, but it is a big one.
End Your Programming Routine: Ultimately, we will see if I am right or feel the same way later in life. There a lot of philosophical choices I discuss in this episode. My biggest thing to battle is going to be maintaining progress. Unfortunately, this is a difficult time of year to really do that But, I need to keep pushing every day/week even if it is only 30 minutes a day.
I am certainly no expert in this topic and I hope that you will not find it boring but I have learned a thing or two about participating in the process. I hope that I can provide some perspective for you to think about. The other truth is that I had one perception and the reality is something different.
First of all, if your estate situation is complicated, I would definitely consult an attorney. Proper steps made make a big difference in the outcome. I had always assumed that being married had the simplest transfer and to some degree that is true. What isn’t exactly true is if assets are not jointly held or titled, then they are subject to probate.
Let me try to explain a little further. Let us say that your partner has a vehicle titled in his name only. If that partner dies, that asset gets thrown into the probate pot. If there is a will specifically designating the spouse as a beneficiary, then it is pretty clear that the spouse will get the asset post probate. If the will is not clear, then the asset is subject to the executor clearing the estate post probate.
What does all that mean? It means that first of all, there is a ‘cooling off’ period which is called probate. This is a legal procedure that recognizes the estate’s executor by name. The executor provides fiduciary responsibility until the probate period has closed. That means that the executor is entitled to sell assets to cover outstanding liabilities during the probate period. It also means additional creditors have time to make a claim against the estate.
In the end, the heirs named in the will and post the probate period will get the remainder of assets divided appropriately. If you made the assumption like I did that the spouse will assume all of the assets, that is not true. The spouse assumes 50% of the assets unless they are jointly titled in which case they do get 100% or they are specifically named in the will as getting all of the assets or the court deems it was the deceased intent to do (in the case of an inadequate will).
Debt that is in the name of the deceased is slightly different. It is true that all debt is still owed, but that is subject to the value of the estate. Meaning, any assets that are singly held must be liquidated to cover the debts until they are all paid or there is no money left in the estate.
There are some loopholes here, for instance retirement accounts or life insurance. Those things (hopefully) have a named beneficiary. That money would then move directly to the beneficiary without involvement of probate. However, if there is no beneficiary name, the money goes into probate for paying the debt of the the estate or split amongst the heirs.
Whoa, I thought this was going to be easier to explain. A vehicle is significant, but what about a house? This is the same thing. What is even more complicated is that if there is current debt against the asset, the asset is the security for the loan payment. This is one of the best cases for life insurance.
I think I have gotten through all of that, now is time for a relevant detour. I am staring out the door at my office. The basement is literally littered and clogged with junk. Most of it has an occasional use and a purpose. The question is ‘is it used, do you know you have it, can you find it?’ I have had this theory that it is so much easier to acquire things than it is to actually get rid of them. Not necessarily emotionally (sometimes that too) but physically. For instance, I ordered a dumpster to help with cleanup at my in-laws which cost me $650.
As a person with a preparedness mindset. I am always thinking about spares and backups and a way to re-use things, I also know that I have acquired my fair share of ‘other peoples problems’. When you think about getting a house ready for the market where some of the stuff is going to go into storage there are lots of things that won’t. I have hazardous waste for garden chemicals, paint that is two colors removed and hardware of one million varieties. Me being a handy guy and a tool guy, I have most of what I need. But, I don’t want to just throw stuff of value away. But in the vein of estate planning I think it would behoove us to think about the lifecycle of all the things we acquire so that it doesn’t become another problem.
My plan after finishing my office was to initiate the basement and garage clean-up. I never anticipated this life altering event to occur. As a result, I have been trying to combine my clean-up with helping out my mother-in-law. That makes it go quite a bit slower (for me).
End Your Programming Routine: I used to think ‘who cares what happens when I die’. I think this event has made me more thoughtful to the consequences to this line of thinking. I am not rushing out to make a will just yet, but it definitely needs to be on the short list this year. Additionally, I am thinking long and hard about what I may think is acceptable to keep laying around as I reorganize everything.
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