Let's say single guy Gus wants to leave his now married
ex-wife money,

Can this money get to her contingent upon her not knowing who is gifting it to her ?

The money is not owed too her.

Gus has no one else to leave it too .

I'm not a lawyer, so take my answer with a grain of salt.
I believe, in a will, you can leave whatever to whomever. As long as your wishes are documented and notarized, and you aren't breaking any laws.
Best bet would be to consult a lawyer, IMO!

A will becomes public after it goes through probate so the ex-wife and everyone else will know.

Money or property distributed through a trust is not public information and usually the trust attorney decides, hopefully in accordance with the instructions setup in the trust, who gets to see those documents. Gus needs a trust or at the very least ask a trust attorney the question if this is what he wants to do.

Spend a couple of $100 and get advice from a lawyer. You'll sleep better.

I would think that Gus could just hand his attorney an envelope that is to be handed to said woman upon his death. No taxes, no wills or trusts..

Gus could also just list his ex wife as the beneficiary of a bank or investment account that would transfer to her on his death, but she would know where the money came from.

I guess my question is: why would you care what she knows/thinks after you are dead? This sounds like a "see. I really did love you after all" kind of situation in which case it would rub more salt in the wound if she knew, but your life, your choices.

Post-life actions are best accomplished via a trust, or if sufficiently endowed, a corporate entity that has post-life instructions (and is run by someone trustworthy). You can't really make someone do something you want, you can only make it incredibly burdensome for them to do otherwise. See a lawyer.

Gus needs to leave his money to St. Jude's Hospital . Problem solved .

He could have the pleasure right now by FedEx'ing her a box with cash.
Then stand back and watch her new husbands reaction.

quote:

Originally posted by NavyGuy:
Spend a couple of $100 and get advice from a lawyer. You'll sleep better.

X2

Thanks for posting, I was wondering what the difference between wills and trusts was. Sounds like a trust is the way to go.

Question though, why not give it to a good charity instead of an ex?

quote:

Originally posted by apprentice:
Thanks for posting, I was wondering what the difference between wills and trusts was. Sounds like a trust is the way to go.

Question though, why not give it to a good charity instead of an ex?

My thoughts exactly .

quote:

Originally posted by apprentice:
Thanks for posting, I was wondering what the difference between wills and trusts was. Sounds like a trust is the way to go.

Question though, why not give it to a good charity instead of an ex?

Big differences between trusts and wills.

A will goes through the courts. My father's estate is still in limbo in NY court 27 months after his death. A will makes a gift of the money or articles to the heir, who then can do whatever they want with it.

A trust is similar in concept to a corporation, in that the assets are owned by the Trust. The document says how the assets are to be handled, and the Trustee is required to follow those rules. While Gus is alive, he can write a trust to make himself trustee and instruct that the assets be used for his own benefit. While alive there is no difference then to Gus, who gets to use his assets as he desires. But the Trust will name a successor Trustee, who then must follow the Trust instructions. Gus' Trust could instruct that upon his death everything gets liquidated and an envelope of cash given to his ex-wife.

One advantage to a trust is metering out $ over time to heirs who are young or irresponsible.

A big advantage is for married people, protecting assets for their children. If one spouse dies and the surviving spouse remarries, then that surviving spouse dies, everything could go to the new spouse, cutting the original couple's children out completely. This kind of thing happens a lot in one flavor or another. My grandfather's very sizable estate, tens of $M, was thus redirected.

Retirement accounts cannot be owned by a Trust. A trust can be the beneficiary, thus putting those assets under Trustee control, or the retirement account can go directly to named beneficiaries. Retirement accounts pass outside of any Will.

It is worth consulting with a good local atty who specializes in trusts and wills. State laws have subtle but important differences. Those online services for preparing your documents can create a lot of problems for your heirs.

" Originally posted by apprentice:
Thanks for posting, I was wondering what the difference between wills and trusts was. Sounds like a trust is the way to go.

Question though, why not give it to a good charity instead of an ex?
My thoughts exactly ."

Looking back in a lot of days gone by,
I am considering myself very very fortunate.
No, I ve not gotten rich or even very well off.
But..
I've managed to stay with the same very good woman for over 36 years now.
Had
It not been for my Ex,
I'd never been in a position to had anywhere near this good of life that we both have enjoyed.

It's not that I feel indebted , just grateful.
I've been charitable to the best of my means for a good long while.

Wait, are you Gus?

Ask a probate attorney, but if it passes through a will, I think it will be hard to conceal the source.

It’s a worthy sentiment bendable… I have similar thoughts.

"Wait, are you Gus?"

Oh no,
I got a pot to pee, but that's it
No one is going to want my 18 y.o. Buick.

Am in a very similar situation though.

My ex is in my list of people after I win the mega millions lottery