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What if I died tomorrow?

Discussion in 'Off-Topic Forum' started by john boy, Jul 12, 2022.

  1. john boy

    john boy DI Forum Luminary Highly Rated Poster

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    It might be a strange question, but it's one that came up in a family conversation yesterday. My late wifes death at an early age left me with problems I had never forseen or thought of at that time.
    My youngest daughter and myself were discussing her future plans, having had her second child 7 months ago.
    With my own experience in mind, I asked her had they as a couple, taken out sufficient life insurance in case anything might happen to one or the other of them. Thankfully she replied that they had, bearing in mind the uncertainty in a changing world.
    Many of us never get round to making a will or up-grading our insurance while we are younger and sometimes never at all.
    My own experience should be a lesson to us all, if you haven't got round to it yet, now's the time to do something about it.......just a thought JB
     
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  2. Garcia

    Garcia DI Senior Member

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    Good post. I have ignored my possible passing for years. Having fasted many times, max 10 days water only (lots essential) I was under the belief that 120 is doable. And as everything is in the mind I'll go with that...

    That aside it will be a mess for my son and my wife afterwards. My son is older than my Filipino wife. My son has his head screwed on being English. Whereas my wife is wonderful but money = rice, plant pots, flowers, shopping for hats, shorts etc Lazada or Shopee. Serious conversations drift towards any stuff for me which I don't need. Having 2 pairs and don't care for more, but I know she would like to get me. She said she'd give me more time as in years if she could. I worry how she'll be emotionally and dealing financially when that moment arrives. She's not known any family loss or otherwise.

    I guess my son will sort out my mess, I have assets all over the place believing don't put all one's eggs in one basket. No crypto but nearly got sucked in.
     
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  3. Ozzyguy

    Ozzyguy DI Forum Adept

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    JB and another thing is what happens with your remains if you live overseas?

    Do they stay in the Philippines, do they ship your body back home or be cremated and spread your ashes in both country's. I believe this is a important thing to have sorted as well as the will and something that is overlooked with a lot of expats.
     
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    john boy

    john boy DI Forum Luminary Highly Rated Poster

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    Good question Ozzy, once again something we tend not to discuss or put off.
    Personally, from a financial cost, if living abroad, I would choose to have my remains after cremation brought back to UK.
    I know of circumstances due to an accident, which have cost thousands to return the person's body home.
     
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  5. Ozzyguy

    Ozzyguy DI Forum Adept

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    I agree and my family have instructions for this.

    We had a Filipino friend that died in Australia just as Covid started. Her body stayed in Australia for months waiting for a flight to send it back home. Massive expense.
     
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  6. PatO

    PatO DI Forum Luminary Highly Rated Poster Showcase Reviewer Veteran Marines

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    I have had 3 foreigner acquaintances here who passed in the last year. They all wanted cremation. My wife and son want a burial here when I pass and funds are put away to cover.
    Related is the issue if you are disabled- ie. stroke. Normally, a caretaker is a necessity, depending on the severity of the disability, and if you live alone, maybe a helper as well. Filipinas are typically too small to lift/assist a foreigner. The cost for meds and therapy and assistance are things to be prepared for.
    Most of us who came here at least 10 years ago have reached the age where we are at risk. It is what it is.
     
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    john boy

    john boy DI Forum Luminary Highly Rated Poster

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    Good points there Pat and care in Western Society has become so expensive, if only we had a crystal ball.
    I've been married to my filipina wife now almost 20 years and always thought I would retire to Philippines.
    As the years have rolled bye, I have managed to cope with minor health issues but always at the back of my mind was "What if."
    Now I look back and realise the "What if" did stopped me from having those years over in Philippines.
    I dont regret my decision over all and have enjoyed my many trips to Philippines, but like you say , "It is what it is"........Keep punching you have my greatest respect JB
     
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    Last edited: Jul 15, 2022
  8. Dutchie

    Dutchie DI Senior Member Showcase Reviewer Veteran Army

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    With regard to dealing with the aftermath of death, it would be smart to consider that the legal ins and outs of the settlement of ones estate (the inheritance) can get a mighty complicated and long process to deal with in a situation where the deceased is an "expat" and has assets in more than one country.
    I learned last year after my brother died of covid that things get complicated very quickly if:
    a. the deceased didn't live in the country that issued their passport (meaning if you no longer had a legal address in that country) and
    b. the deceased owned assets in multiple countries.
    Long story short: when trying to assist my brother's daughter with the legalities of the inheritance, it turned out that even though the only heir lives in the Netherlands and even though my brother had most of his assets in the Netherlands, the fact that he no longer had an address in the Netherlands meant that the inheritance had to be dealt with according to the law in his country of residence, so not just a certificate of death, but whatever the law in the country of residence requires (such as: proof that there are no heirs in that country ???!!!!).
    Anyway, the bank in the Netherlands still hasn't closed my brother's bank account and my niece still cannot access the funds in the account, because the lawyer/public notary in the country of residence are dragging their feet.
    Now luckily my niece has other means of income and doesn't financially depend on the inheritance, but what if there was no niece but a grieving widow who's desperate to exercise her rights as heir.

    My suggestion would be to go over the situation that might arise after your demise and consider mitigating the risk of a drawn out inheritance process as much as you can (have some money in a bank account that will not be blocked when you die).
     
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  9. SkipJack

    SkipJack DI Senior Member

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    Sorry to hear about your brother and the challenge after his passing.

    I am wondering if the country of residence issue trumps the account beneficiary.

    With a US bank account, a person can name beneficiaries as payable on death. When the bank receives a death certificate they pay out the funds to the beneficiaries. These bank assets are not part of the legal probate process.

    Is this the same in the Netherlands? Was your niece named as a beneficiary on the account or is your brothers estate going through a legal probate process?
     
  10. PatO

    PatO DI Forum Luminary Highly Rated Poster Showcase Reviewer Veteran Marines

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    Would a LAST WILL AND TESTAMENT have helped?
     
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