WRONG FORUM ASSHOLE
stanneh -Just to get their debts paid and a nice furneal.GenericAmerican - If they are old, you'll probably not be able to get life insurance. Or it will be crazy expensive. Insurance companies have thought of this.What are you thinking, that when one of them dies, the other will get the payout and be able to live better? Or you thinking that you’ll get the payout and use your parents as an investment?
Oh I realllly hope this is not the case.
FrontBroRian -I really don’t ask questions about these things. I do ask how they want their passing to go. My mother has stated that she wants to be cremated with a portion of her ashes to be spread on her first sons grave. I know he died at birth but I haven’t asked about detailsJLK -stanneh -FrontBroRian -stanneh -GenericAmerican - If they are old, you'll probably not be able to get life insurance. Or it will be crazy expensive. Insurance companies have thought of this.What are you thinking, that when one of them dies, the other will get the payout and be able to live better? Or you thinking that you’ll get the payout and use your parents as an investment?
Oh I realllly hope this is not the case.
I’d say it’s pretty obvious what his intentions are. He wants to profit off his parent’s death
I’ll reserve judgement until I see his response I’m racking my brain here to come up with any other reason as to why else he would do this but for the life of me I can’t think of a good reason.
He might be doing it to cover funeral expenses.
He said they already have a small policy. A small policy would prob be $25k. Plenty to cover funeral expenses for both, even if they have $0 to their name. He wants to profit would be my guess
OldSchoolMike - WRONG FORUM ASSHOLEOh shit. . . When I first read this, I read wrong "funeral" assshole. Lol
wormiwalkinstik -FrontBroRian -I really don’t ask questions about these things. I do ask how they want their passing to go. My mother has stated that she wants to be cremated with a portion of her ashes to be spread on her first sons grave. I know he died at birth but I haven’t asked about detailsJLK -stanneh -FrontBroRian -stanneh -GenericAmerican - If they are old, you'll probably not be able to get life insurance. Or it will be crazy expensive. Insurance companies have thought of this.What are you thinking, that when one of them dies, the other will get the payout and be able to live better? Or you thinking that you’ll get the payout and use your parents as an investment?
Oh I realllly hope this is not the case.
I’d say it’s pretty obvious what his intentions are. He wants to profit off his parent’s death
I’ll reserve judgement until I see his response I’m racking my brain here to come up with any other reason as to why else he would do this but for the life of me I can’t think of a good reason.
He might be doing it to cover funeral expenses.
He said they already have a small policy. A small policy would prob be $25k. Plenty to cover funeral expenses for both, even if they have $0 to their name. He wants to profit would be my guess
Well if cremation is your mother’s wishes, that is way cheaper than a casket and burial.
Which debts would transfer to you upon their passing that you want to pay off?
How much is their current small policy?
As stated, if only for those things it would probably be better to set the money aside instead of paying into insurance premiums.
wormiwalkinstik -stanneh -Just to get their debts paid and a nice furneal.GenericAmerican - If they are old, you'll probably not be able to get life insurance. Or it will be crazy expensive. Insurance companies have thought of this.What are you thinking, that when one of them dies, the other will get the payout and be able to live better? Or you thinking that you’ll get the payout and use your parents as an investment?
Oh I realllly hope this is not the case.
I understand the funeral but why would you pay their outstanding debts when they pass surely the debt passes also?
I’m in the UK so maybe in america these leeches go after family members for debts owed by the late relatives if so thank fuck I on’t live in that kind of society.
No, the only way debt would pass to him is if he wanted to keep some asset they owed on (most commonly a house). But if he isn’t a co-signer on any of their debts, I can’t see any of them passing to him.
stanneh -wormiwalkinstik -stanneh -Just to get their debts paid and a nice furneal.GenericAmerican - If they are old, you'll probably not be able to get life insurance. Or it will be crazy expensive. Insurance companies have thought of this.What are you thinking, that when one of them dies, the other will get the payout and be able to live better? Or you thinking that you’ll get the payout and use your parents as an investment?
Oh I realllly hope this is not the case.
I understand the funeral but why would you pay their outstanding debts when they pass surely the debt passes also?
I’m in the UK so maybe in america these leeches go after family members for debts owed by the late relatives if so thank fuck I on’t live in that kind of society.
No they don’t…that’s why I asked. Cremation and a small funeral would be no more than $5k each. If he already has a small policy, I can’t imagine it’s less than $10k.
GenericAmerican - No, the only way debt would pass to him is if he wanted to keep some asset they owed on (most commonly a house). But if he isn't a co-signer on any of their debts, I can't see any of them passing to him.
Could he just step in and continue the outstanding mortgage payments and keep the house after they pass on? I’m assuming they have paid off a huge chunk of that mortgage so he either inherits the assets of what they put in to paying for the house if it were sold or he would have the ability to go to a mortgage company and pay off the outstanding?
stanneh -GenericAmerican - No, the only way debt would pass to him is if he wanted to keep some asset they owed on (most commonly a house). But if he isn't a co-signer on any of their debts, I can't see any of them passing to him.Could he just step in and continue the outstanding mortgage payments and keep the house after they pass on? I’m assuming they have paid off a huge chunk of that mortgage so he either inherits the assets of what they put in to paying for the house if it were sold or he would have the ability to go to a mortgage company and pay off the outstanding?
He said they’re very poor. That would lead me to believe little or no equity in a home
FrontBroRian -stanneh -GenericAmerican - No, the only way debt would pass to him is if he wanted to keep some asset they owed on (most commonly a house). But if he isn't a co-signer on any of their debts, I can't see any of them passing to him.Could he just step in and continue the outstanding mortgage payments and keep the house after they pass on? I’m assuming they have paid off a huge chunk of that mortgage so he either inherits the assets of what they put in to paying for the house if it were sold or he would have the ability to go to a mortgage company and pay off the outstanding?
He said they’re very poor. That would lead me to believe little or no equity in a home
IF this is how it is OP then forget it man just make sure you can cover what is needed for the funeral if necessary and make your own way through life.
I have family member who believe they are owed something from their parents.
for instance my Auntie has convinced my grandparents that she should be the sole inheritor of their house when they pass on. I personally would rather they took out all the equity in that house and enjoy whatever they can from it for the rest of their natural lives.
I grew up extremely poor my dad left before I was born and my mother worked as a nurse to support 3 kids on her own with no help or contact from my father, I was recently telling colleagues at work how it was, in the winter there was icicles on the inside of my bedroom window we had no central heating or hot running water until I got my first job I saved my first three pay packets bought her a boiler, radiators and pipework and had one of my best friends install it that was a big day for us all.
I’m 40 now and 2 years ago my father got in touch with me it turns out he’s been a multi millionaire since the mid 80’s he left us here in wales and went off to London to make a better life for himself.
I had reservations about giving him any time or involvement in my life but I gave him a chance, he just turned 20 when he left he was just a kid and of course he left it far to long to try come back and make it up to me.
To this day I have never accepted 1 penny off of him but I’m glad I know him he still works tirelessly harder than anyone I know, getting to know him has helped me to understand myself a lot I just wish he would stop working and spend every last penny of it what he’s earned enjoying what he has left of his life.
I reserved judgment early on and I still do I believe everyone should make their own money and nobody should expect inheritance in any way.
No, but I did buy a 3 million dollar policy for my wife “Slippy”, who tragically fell off a cliff. Making the premium the one month I had to pay nearly killed me.
Who needs life insurance.
What so your ungrateful children like OP can buy a 4K TV and take the fat wife on a vacation with what they deem to be a lottery win?
Same way people treat their tax return like its a windfall.
Sure you can have life insurance to cover your funeral but why not stiff everyone with it or have them toss you in a state cardboard box to incinerate.
Wrong forum asshole