You Can't Take it with You- Or Can You?

[cosmicfolklore]

That was an hilarious GOT scene Cosmic
Hope there's a crack shot in your family.

At least I don't collect cars, like a buddy of mine... His burial will be an environmental hazard, ha ha.

 

[AJL67]

I suppose it's not that odd of a question, personally for me i don't care, but to put it in perspective when i was 15 and my mom was killed I was adamant that she be buried with her reading glasses and library card, she loved to read and read through hundreds if not 1000s of books, emotional times and stress make us think odd things.

 

[jpmcwjr]

I have a lot of pipes that have tsukumogami, and a few that have yōkai.

Sounds impressive!! But I have no idea of what you speak....

I hope it's not related to mold or mould....

 

[spike]

None. I want my pipes sent on to someone who will appreciate them. That’s in the personal property attachment to my last Will and Testament along with my guns and golf clubs, the only possessions I care about. My wife knows to send the pipes to Smoking Pipes.com, the guns go to my brother, and the golf clubs to to the the kids‘s golf program nearby.

 

[Milverton1868]

Probably just a corn cob and my family could sell some of the briars. If I had to pick a briar it would be my one Boswell as I smoke that one the most after my cobs.

 

[sablebrush52]

Very much the same in Oz

Our two sons have taken matters into their hands and arranged meetings with a financial adviser for us
My wife has had a recent health scare - luckily everything turned out fine. But it really put the wind up them that we had no retirement or estate planning in place.

I suppose thinking of one’s mortality is uncomfortable for some

Good move. I had my lawyer set up my parents' trust and when my mother died it took our potential death duties from $450,000 to $0. When my father passed a few years later, the death duties were $0.
Sure, preparing for one's eventual demise isn't fun, but it's a good idea, unless you like to give away your holdings to probate judges and their pals.

 

[RustiePyles CPG]

Sounds impressive!! But I have no idea of what you speak....

I hope it's not related to mold or mould....

It's just the Japanese way of saying I have a few very old pipes that are ghosted.

 

[orlandofurioso]

Plenty ghosting in the old abode we live in.

 

[Hillcrest]

Close up:

 

[anotherbob]

When it is time for me to put down my pipes, I will have already carefully chosen their next stewards who will receive them along with any information I might have about their history and previous owners.

The pipes, to me, evoke the tsukumogami:

"To some pipe collectors it may seem odd that someone would have an obsession with "old wood." After all, what allure might a decrepit, filthy old briar have in comparison to an unsmoked, artisan-crafted masterpiece?

Japanese folklore describes certain commonplace objects that, on approaching their hundredth anniversary of utility, are instilled with a spirit and become alive and self-aware; they are the tsukumogami (付喪神). These now-animate objects furthermore often bear the anguish and resentment of having been ignored or orphaned in the shadow of their late age. Thus, the veneration of, and care for, these objects represents a reverential atonement--an appeasement of the tsukumogami--which restores balance and order. To some, pipes are mere objects, often overlooked or perhaps admired outwardly as one admires the dust jacket of a book. But pipes are transcendent little objects, bearing silent witness to the ebb and flow of their owners' often transient and unstable lives. One might remark "if only these pipes could speak!" But do we listen? Do we extend pause and reflection toward penetrating the silent language of the ancient briar? Toward unlocking the spirit that incubates within? You who are unfamiliar with these concepts may be forgiven for imagining that the qualities that make a pipe a "good smoker" are merely variables within the realm of the mechanical; that the whim that urges you toward a particular pipe on a particular occasion is but an impulse of your volition; and that a pipe breaks due merely to carelessness on the part of its owner. Verily for these "objets quotidiens," the essential within is invisible to the eyes."

old tea kettles and umbrellas can be extra resentful

 

[Hillcrest]

"“Like the 309” was the last song Johnny Cash wrote before his death. It was apparently inspired by Red Sovine’s “Phantom 309” about a truck driver . . . It’s unfortunate that we don’t bury folks in the US much anymore but cremate them, because if burying was still the custom, I’d ask to be buried with a 309 in my shirt pocket. As it is, maybe somebody can at least dump a few ashes from a good virginia tobacco in with mine.

Most folks don’t know Johnny took up a pipe the last few years of his life, nor are they aware of the original lyrics from his song, which were changed before he recorded it:

It should be a while before I see Doctor Death
So, it would sure would be nice if I could get my breath
Well, I’m not the cryin’, nor the whinin’ kind
So jes’ let me smoke my good ol’ 309, yeah my 309, yeah my 309,
Put me in a box with my 309 . . . " 309. “Like the 309”: An Appreciation of the Dutch Billiard, Shape 4 - https://petersonpipenotes.org/2022/10/23/309-like-the-309-an-appreciation-of-the-dutch-billiard-shape-4/

 

[sardonicus87]

This all reminds me, we need to figure out our estate planning. We have no kids. I know she has life insurance, but I dunno where the policies are. Need to get that organized. I do have my brokerage setup with a ToD to her if I died. That's about it.

By default, all our stuff goes to the other person, the main thing is just getting all the paperworks in one place so she or I know who to go to and where everything is. She does already know my final wishes (that she can do whatever she wants as to a funeral, though my suggestion is cremation as it's more affordable than burial).

You spend half your life just dealing with fn paperwork and bureaucracy that the government demands just so you can keep what's already yours, meanwhile the government basically doesn't do anything for you. I'm about sick of that crap... ready to subscribe to Accelerationism, crumble it all and go back to stone-age times of grunts and clubs and dying at age 30.

 

[AroEnglish]

This all reminds me, we need to figure out our estate planning. We have no kids. I know she has life insurance, but I dunno where the policies are. Need to get that organized. I do have my brokerage setup with a ToD to her if I died. That's about it.

By default, all our stuff goes to the other person, the main thing is just getting all the paperworks in one place so she or I know who to go to and where everything is. She does already know my final wishes (that she can do whatever she wants as to a funeral, though my suggestion is cremation as it's more affordable than burial).

You spend half your life just dealing with fn paperwork and bureaucracy that the government demands just so you can keep what's already yours, meanwhile the government basically doesn't do anything for you. I'm about sick of that crap... ready to subscribe to Accelerationism, crumble it all and go back to stone-age times of grunts and clubs and dying at age 30.

But I don't want to go back to stone age pipes 🥹

 

[Egg Shen]

This all reminds me, we need to figure out our estate planning. We have no kids. I know she has life insurance, but I dunno where the policies are. Need to get that organized. I do have my brokerage setup with a ToD to her if I died. That's about it.

By default, all our stuff goes to the other person, the main thing is just getting all the paperworks in one place so she or I know who to go to and where everything is. She does already know my final wishes (that she can do whatever she wants as to a funeral, though my suggestion is cremation as it's more affordable than burial).

You spend half your life just dealing with fn paperwork and bureaucracy that the government demands just so you can keep what's already yours, meanwhile the government basically doesn't do anything for you. I'm about sick of that crap... ready to subscribe to Accelerationism, crumble it all and go back to stone-age times of grunts and clubs and dying at age 30.

Right there with you man. Modern America is stupid.

Good move. I had my lawyer set up my parents' trust and when my mother died it took our potential death duties from $450,000 to $0. When my father passed a few years later, the death duties were $0.
Sure, preparing for one's eventual demise isn't fun, but it's a good idea, unless you like to give away your holdings to probate judges and their pals.

What is this death duties you speak of? Are you saying that I’d somehow have to pay a tax when my mom dies even though she lives in another state and has more money than I ever will? Or when my father who is also in another state and I barely have contact with? What kind of money are we talking about here and how do they come up with the amount? If the government sent me a bill for 450k I would fall off the grid pronto.

 

[jpmcwjr]

Tax advice is beyond the pale in this forum. But if you are the primary beneficiary of either of your parent's wills and they are loaded, seek counsel! Best of luck....

 

[sablebrush52]

Right there with you man. Modern America is stupid.

What is this death duties you speak of? Are you saying that I’d somehow have to pay a tax when my mom dies even though she lives in another state and has more money than I ever will? Or when my father who is also in another state and I barely have contact with? What kind of money are we talking about here and how do they come up with the amount? If the government sent me a bill for 450k I would fall off the grid pronto.

When someone passes away, their estate may be subject to estate, or death. tax, based on the value of the estate. Did you believe that death made you immune from the tax man? Hah! And yes, you may have to pay tax on any inheritance. If the estate has no Will, Trust, or legally recognized documentation it then gets probated, where various members of the legal system charge the estate for their time in probating it, a cost far exceeding just hiring an attorney to set up the estate properly in advance.
California has, or had, a notoriously corrupt probate system that became quite the news item a decade or so ago as crony judges and attorneys raided estate after estate. And it's not alone in that. I guess the theory is that if you're stupid enough not to have a Will or Trust in place, you deserve what happens.
You may save considerable taxation depending on how the estate is set up. For example, gifts to grandchildren are taxed much lower than gifts to children, and there are ways to split the estate using a Survivor's Trust that can bring it below IRS thresholds. That's how we saved $450,000 in potential taxes. The tax system is full of loopholes intended to protect the wealthiest among us, but you can sometimes use these same loopholes for much smaller estates.
Talk with a qualified estate attorney, but look for a good one. There are a lot of bozos, and Trust mills out there.

 

[evanetui]

"“Like the 309” was the last song Johnny Cash wrote before his death. It was apparently inspired by Red Sovine’s “Phantom 309” about a truck driver . . . It’s unfortunate that we don’t bury folks in the US much anymore but cremate them, because if burying was still the custom, I’d ask to be buried with a 309 in my shirt pocket. As it is, maybe somebody can at least dump a few ashes from a good virginia tobacco in with mine.

Most folks don’t know Johnny took up a pipe the last few years of his life, nor are they aware of the original lyrics from his song, which were changed before he recorded it:

It should be a while before I see Doctor Death
So, it would sure would be nice if I could get my breath
Well, I’m not the cryin’, nor the whinin’ kind
So jes’ let me smoke my good ol’ 309, yeah my 309, yeah my 309,
Put me in a box with my 309 . . . " 309. “Like the 309”: An Appreciation of the Dutch Billiard, Shape 4 - https://petersonpipenotes.org/2022/10/23/309-like-the-309-an-appreciation-of-the-dutch-billiard-shape-4/https://petersonpipenotes.org/2022/...n-appreciation-of-the-dutch-billiard-shape-4/
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I think the fact that the original lyrics were darker than the final version makes the song more powerful and emotional.

 

[Egg Shen]

When someone passes away, their estate may be subject to estate, or death. tax, based on the value of the estate. Did you believe that death made you immune from the tax man? Hah! And yes, you may have to pay tax on any inheritance. If the estate has no Will, Trust, or legally recognized documentation it then gets probated, where various members of the legal system charge the estate for their time in probating it, a cost far exceeding just hiring an attorney to set up the estate properly in advance.
California has, or had, a notoriously corrupt probate system that became quite the news item a decade or so ago as crony judges and attorneys raided estate after estate. And it's not alone in that. I guess the theory is that if you're stupid enough not to have a Will or Trust in place, you deserve what happens.
You may save considerable taxation depending on how the estate is set up. For example, gifts to grandchildren are taxed much lower than gifts to children, and there are ways to split the estate using a Survivor's Trust that can bring it below IRS thresholds. That's how we saved $450,000 in potential taxes. The tax system is full of loopholes intended to protect the wealthiest among us, but you can sometimes use these same loopholes for much smaller estates.
Talk with a qualified estate attorney, but look for a good one. There are a lot of bozos, and Trust mills out there.

Thanks Sable. My parents are pretty squared away so I’m sure they have their wills made. Though I doubt I want or need that which they may have willed me. Do you know if telling the gov’t “I’m not interested in inheriting any of their assets so do what you want with it“ is a viable legal option? I’d rather just be completely uninvolved in any of that bureaucracy. Thanks.

 

[sablebrush52]

Thanks Sable. My parents are pretty squared away so I’m sure they have their wills made. Though I doubt I want or need that which they may have willed me. Do you know if telling the gov’t “I’m not interested in inheriting any of their assets so do what you want with it“ is a viable legal option? I’d rather just be completely uninvolved in any of that bureaucracy. Thanks.

There's no getting around some governmental involvement with an inheritance, both federal and state. But, honestly, it's not a difficult a process to set up a will and a trust with the right attorney. You go over the options and they craft the document and handle getting it registered. Also, trusts had some protective benefits, besides tax, like a level of privacy regarding one's assets, as well as a layer of protection from lawsuits, especially scams.
But if you want to refuse any inheritance just ask you parents to take you off their list of beneficiaries in writing. Failing that you can always donate all of it to you favorite home for retired cats. You'll still have to declare it.
Try being the executor of an estate some time. That's a lot of work, especially if you're principled. Setting up a trust is nothing in comparison.

 

[cosmicfolklore]

Do you know if telling the gov’t “I’m not interested in inheriting any of their assets so do what you want with it“ is a viable legal option?

That reminds me of a scene from the 80's series, Night Court. The bailiff, Bull, finds out that he has inherited millions of dollars, and he rejects it. The whole episode was the characters of the show trying to get Bull to sign for the money. In the final scene, he gets frustrated with everyone and says, "I don't want millions of dollars. I couldn't afford the taxes on it." Badum pishh...