My wife and I keep talking about updating our will. We are still fairly young (50’s) but things can happen any time. A few years ago my wife had a pretty significant health event ( icu stay, emergency surgery) and as she typically handles all the bills I had a panic moment if something happens to her I wouldn’t know where to begin. She made a detailed list of all the payments etc ( after her health improved) which has put my mind at ease.
If I did lose her, at least initially the same house we are in is fine, but I would consider something smaller down the road.

if Wife passes first,
covered,
cash in whatever insurance and keep on living,

no remarrying, just keep on,

if I croak first, we have insurance etc, and a friend will help dispose my collection,

the only hiccup is our business, my Brother and I are 50/50 partners in 2 firearms businesses,

we still need to workout what happens to my 50% (she is not into or knowledgeable of Firearms or the business)

I've written a possible reply on this and not sent it about half a dozen times. In terms of like the practical process of dealing with death it seems like I think I have that under control...my wife before me, I know what to do...me before my wife she has to follow directions which isn't complicated and she will have my family to help her. I'm not sure if your OP is really an emotional one or not, but I've been married for a very long time. She goes first, it really won't change much. I go first and she wants to move and can do so just fine as she wants. I doubt at this point that there will be a huge amount of adjustment. I've lived through the loss of so many things that were important to me that I can manage that. My wife has lived through way,way worse and she will be fine. Not sure if any of this is helpful, but that's my take on it.

quote:

Originally posted by lyman:
the only hiccup is our business, my Brother and I are 50/50 partners in 2 firearms businesses,

we still need to workout what happens to my 50% (she is not into or knowledgeable of Firearms or the business)

I am no kind of insurance expert and have absolutely no idea whether such a thing would be cost effective, but wonder if “key man” insurance might make sense to buy out your share if you pass, and possibly the same for your brother if he passes. The theory is that the insurance pays enough to buy out the decedent’s interest, making his survivors whole, while leaving the surviving partner as sole owner. No idea if it makes any financial sense (depends what it costs) just have read about its applications.

"I'm not sure if your OP is really an emotional one or not,"


More emotional than not.

I can't imagine existing w/o her, with all of my undesirable aspects , I can't imagine finding what amounts to " true love and respect"
At my age.

No kids or relatives to move in with.