Tuesday, September 6, 2011

Tonight we finish off our 4 part series on The Estate
We have focused on our assets during the first 3 parts
So tonight we will focus on our liabilities

It is not just important to protect what you own
It is also important to know what you owe
And be aware that if you do not have a will,
Your estate will go into probate and all liabilities
Need to be paid off

Remember, in some states even if you have a will
The estate will still go into probate
Please check you state laws and regulations

Just like we did with our assets
Make a list of all debts
Whether they are consumer loans, credit cards,
Personal loans, mortgage, or any other balance on an account
You also want to list other debts such as
Utilities, insurance, property taxes, or anything
That you pay on a monthly basis

I have found that keeping this type of list handy
(even if you are not the person who pays the bills)
Will help when the need for transition arises

Additional items to think about

Do you want your estate to make a donation to your church or charity
Will that come off the top after bills
Will that be mandatory for each beneficiary named

If you have young children
Who will care for them and how will the estate manage their care

If you want any specific items to be given to individuals
It is best to have that written down and kept with your will/trust

What do you want your loved ones to do with pets if you have them

As we get older
It is definitely time to sort through our 'stuff' and
Get rid of anything we really don't need
Let me tell you what I've learned
Our kids want Very Little of what we call Treasures
I have found with my boys
That there were precious few items they wanted
After their dad died
Mostly, they wanted the memories of his love for them
And the photos we took

I hope some of this has been of benefit to you
I realize that it is Not a subject we often want to discuss
But I also believe it is important to have these discussions
And make arrangements before something happens

Blessings to you all,


  1. When my dad died unexpectedly last year, I was so thankful that he had already taken care of everything. I was in no shape to make decisions after he passed. I hope that I can get my life in as much order so that I won't be a burden to my family when God calls me back.

  2. Cindy, I have just been catching up with your blogs and you, Lady are my hero! How wonderful you are to be putting all this important and vital info out for others! I'm sure you have your wallow days and you are due them, but thank you so much for these important reminders!!

    My mom passed in May and these thoughts are heavy on my mind, we are the next generation to go and I cannot pretend otherwise.
    Thank you Hun.


Hi Friend, I read and cherish every single comment you leave! You bring Joy to my heart! Blessings, Cindy