Living will ?

[Steel]

Was wondering if anyone could help me better understand a Living will. I am trying to set up something for my family so that when I pass they are not left with paying taxes on my stuff. Can someone tell me how this works and any recommendations. I am in the process of getting my house out of my name and someone recommended a living will. any help would be Much appreciated.

[Kramer]

The purpose of a living will is to tell your family what you want
to happen should the need for life support arise.
Many people do not want to be kept alive this way for a variety of reasons

So the purpose of a living will is to inform your family
what YOU want to happen in this case

Not only can it make sure that everything happens the way you want it to,
it can also prevent arguments within your family
and keep the stress of this decision off your children , spouse

It has nothing to do with taxes really ..

To reduce “their” taxes , consult with a certified professional accountant.

For example , your house , your business
Is your bus a ltd , Inc , co or just steeles landscaping o/b steele?
Dif’t tax obligations


You could consider incorporating , buying the house into the bus name ,
setting up shares , if you have a wife , 3 kids ,
make it 5 shares of the co ,
when u gone all get equal shares
or however u want to split it .

You could register the house into spouse/3 kids names as a “gift”

A few examples..

Consult an attourny , if married make sure your spouse knows
each others (not just yours)
If I’m in a hospital hooked up to a machine
this is what I want
( I.E. how long after u coma u want them to pull the plug)



My next door neighbour is a lawyer
and did my will she said the amount of questions
I asked her was more than
any client ever had-lol

Like you leave x% to your sister ,and or or surviving spouse?
or just sister ?
(If sister gone do just kids get it , no 2nd husband)

If sister dies and marries some smuck you hate ,
you have to readjust the will-;lol

[Steel]

Originally Posted by Kramer

The purpose of a living will is to tell your family what you want
to happen should the need for life support arise.
Many people do not want to be kept alive this way for a variety of reasons

So the purpose of a living will is to inform your family
what YOU want to happen in this case

Not only can it make sure that everything happens the way you want it to,
it can also prevent arguments within your family
and keep the stress of this decision off your children , spouse

It has nothing to do with taxes really ..

To reduce “their” taxes , consult with a certified professional accountant.

For example , your house , your business
Is your bus a ltd , Inc , co or just steeles landscaping o/b steele?
Dif’t tax obligations


You could consider incorporating , buying the house into the bus name ,
setting up shares , if you have a wife , 3 kids ,
make it 5 shares of the co ,
when u gone all get equal shares
or however u want to split it .

You could register the house into spouse/3 kids names as a “gift”

A few examples..

Consult an attourny , if married make sure your spouse knows
each others (not just yours)
If I’m in a hospital hooked up to a machine
this is what I want
( I.E. how long after u coma u want them to pull the plug)



My next door neighbour is a lawyer
and did my will she said the amount of questions
I asked her was more than
any client ever had-lol

Like you leave x% to your sister ,and or or surviving spouse?
or just sister ?
(If sister gone do just kids get it , no 2nd husband)

If sister dies and marries some smuck you hate ,
you have to readjust the will-;lol

I knew I could rey on you. Plan on being dead broke and have no possessions when I die. I told my family long ago, NO MACHINES!!!! If you leave me on a machine I will haunt you for the rest of your life.