Comments | gunsnbutter: The Benefits of Death

gunsnbutter

The Benefits of Death

Jun 27, 2006 09:50

So I signed up for a 401k plan, and now I gotta pick a beneficiary. I'm not married, so it can pretty much be whoever I want! So, who wants to be my benficiary? You'll rake in a whopping 3% of my annual income when I kick it (the bucket, that is). Who wants my money when I die! Who! You ( Read more... )

Leave a comment

Back to all threads

mentaljujitsu June 27 2006, 18:52:38 UTC

I personally think pet trusts (aka honorary trusts) are pretty stupid. However, in case you're interested in creating a pet trust, an owner must name a trustee and a caretaker (they can be two different people or one person) who are responsible for taking care of the animal. Also, pet trusts can designate an enforcer whose job is to make sure that the trustee and caretaker comply with the trust. NY pet-trust statutes stipulate that the money being used by the trustee must be limited to the needs of the animal unless the will makes other provisions. The life of your pet trust can't exceed 21 years, but I guess that doesn't matter for cats.

gunsnbutter June 27 2006, 20:39:55 UTC

the callousness of people like you is exactly why pet trusts are necessary!

jaykay. that's interesting info...how exactly do you know this? oh yeah, law school.

mentaljujitsu June 27 2006, 23:31:47 UTC

it think it's retarded when wealthy people leave enormous trusts in honor of their pets. this was such a problem in NY that judges began limiting honorary trusts to $5,000,000. what a ridiculous waste of money!

gunsnbutter June 28 2006, 12:54:23 UTC

hahaha yeah, but conversely if you're broke and everyone you know is broke, and the expense of taking in your pets would be prohibitive for someone, I think it makes some sense to set aside some money for it. and anyway you've never had a pet so I don't expect you to understand the joyous bond that exists between my precious moments and I!

Anyway I'm not leaving my 401K money to my pets so this conversation is moot.

m_lord June 28 2006, 13:51:39 UTC

Everyone can afford a can of fancy feast and some paper plates!

gunsnbutter June 28 2006, 15:07:40 UTC

dashing_dynamo June 29 2006, 01:08:58 UTC

ha, 21 years. remember when you said you'd never heard of the rule against perpetuities?

mentaljujitsu June 29 2006, 21:04:25 UTC

no, i don't remember that. but it must have been before i'd taken property. ah, ignorance is bliss.

gunsnbutter June 30 2006, 13:10:39 UTC

i remember it and it was during last semester, no excuses!

mentaljujitsu June 30 2006, 22:56:44 UTC

i don't know guys...i must have been kidding. you can't pass property, and trusts and estates without learnining it. (or hearing of it). you retards. jk.

Back to all threads