August 1, 2025
Coming of age of the elderly: avoiding probate
Hi guys,
I would have written sooner but I am still on the tail end of a tenacious cough. Yesterday I had a bad bout with gout and spent most of the day off my feet. This morning is better than yesterday, but the day has just begun and I can see the swelling in my left foot. I am hoping for the best or better as the day unfolds. Fortunately, I have Nathaniel and Nickolas to help me. They are great in this regard.
A couple of weeks ago I had an enlightening and enjoyable phone conversation with Bengoy (much earlier I had one with Lanny). Inevitably, I have to entail the services of a professional – estate planner, financial planner, lawyer, more than one of the above? I just want to get a better feel for the territory before I jump into the fray.
It need be said that you are all executors, in the event of my death or incapacitation, maybe not legally but in actuality and in toto. I completely trust you will all work things out to the best interests of everyone with respect, justice, love and grace.
Practically, let’s draw the line. You have the power to do anything you want after I die. I draw the line in terms of what I want, but you have the power to comply or not comply. I will not bind you legally beyond the grave. Beyond what I want, everything else is up to you in toto. I am sure you guys will do great for each other – with respect, justice, love and grace.
It is to your advantage (and mine) for you to address and express your concerns now.
August 2, 2025
I started writing this letter yesterday morning, but throughout the day the gout was still about. I think today is the last day. Had I known it would last this long, I would have sought medication – spilled milk.
Let’s get right to it.
My first goal was to avoid probate. Thus, I listed you all as beneficiaries for both houses, in the event of my death - Spring valley and James A. Reed. I think the market value for each of these houses is above $200,000. I have been offered a cash settlement for each of these houses for around $150,000 from corporate buyers. James A Reed is paid off. Spring Valley has a balance of about $15,000. Spring Valley is presently rented and managed by someone other than myself.
When I die, you all get equal shares. If one of you dies before I do, your share gets equally divided between the remaining beneficiaries. However, if the beneficiary who dies has a wife and children, their share goes to their wife and children. This is where my line ends.
The big disadvantage with this setup – or so they say (ika nga nila) – are disagreements between beneficiaries.
I think it is therefore beneficial for you who are future beneficiaries to suggest and examine possible options. I will throw my two cents into the discussion. Examination and analysis is good, actually essential.
I have been advised to protect these properties from being “stolen,” primarily through some form of identity theft. I am looking into the matter. One way is to freeze my credit, through the credit bureau. Another way – offered by the county – is to be notified in the event of any activity involving the properties. If you know anything, let me know.
-o-o-o-o-o
To be continued:
p.s.,
I do not use ChatGPT or AI in writing. To my mind these are primary language processors. They are good at retrieving and using information from a data-set. Otherwise, they produce hype and purple prose. Human beings are meaning processors.
Are there areas in life where we prefer humans instead of AI. In these areas is AI still better and can one even tell the difference?
AI is a tool as the Internet is a tool. The “factory system,” has allowed overproduction independent of human need. What does a machine gun do?
