Assume that....
1) The next of kin are nephews/nieces, married, some with young kids. They are the offspring of your sole deceased sibling who you didn't like, but you're trying not to hold that against their offspring. You have no closer relatives related to this decision, like your own parents, spouse, children, grandchildren, aunts, or uncles. The focus is solely on the nephews and nieces, and any children they may have who theoretically benefit later if not now, but whom you've never seen.
2) You aren't close to them by any stretch of the imagination. They always lived in a different city, and the number of times you saw them as they grew up could be counted on two hands. You haven't seen them in 16 years, and even then, it was only due to attending family funerals. You haven't kept in touch in any way whatsoever. They may think you're mad at them due to the crazy antics of their dad, but you're not. It's just a matter of being motivated enough, like a distant cousin or uncle who is out there somewhere, but they could die and you'd never know it.
3) You don't even know where they are without possibly a "people-finder" type online search. So you haven't yet written any letters to track them down to ask if they want to inherit anything, and you're undecided if you even want to. You don't have their phone or email, and you aren't going to contact any other relative to try and get that info.
I could type volumes more, touching on 'drama' like stuff from the past regarding mutual relatives who are no longer in the picture, but it's too much to read, too boring, and your head might explode.
What are the beneficiary alternatives? Friends, a church, or non-profit, but what scares me about churches and non-profits is that their budgets are so high, they would go through my 'gift' within hours, like water down a drain (salaries, current bills, etc.) unless they had a building project to fund, which would have lasting value, but it's all a shell game IMO. The word is 'fungible,' meaning, if you say 'this money is for the current or next building project,' it just means they can pay it off sooner and money that would have finished the project would be allocated somewhere else. The deacons, elders, finance committee, etc. decide all that and there's nothing your stiff corpse can do about it. That's why I don't understand why people 'designate' money unless it's to get a specific thing done faster. (i.e. you'd like them to have a grand piano but they won't if YOU don't pay for it).
I have trouble maintaining objectivity in this situation, hence the post. If you have questions before answering, reply, and I'll try to answer them.
P.S. - I'm also thinking of the children of the aforementioned relatives who presumably would benefit, either thru a head start on their college fund, or passed on in 60 years if their parents don't blow it. If it were up to my own deceased parents/grandparents, I know that's what they would say to do, cause that's what they did. (i.e.-'keep it in the family'). Blood was thicker than non-profits, presumably cause they knew the money could stay invested for their blood offspring for years to come, assuming they didn't blow it all. That includes money for on-going giving to the church of their choice, not just their kid's college education.
I've thought of a lasting trust for a church or non-profit, but that's an unpractical expensive option in my case.
1) The next of kin are nephews/nieces, married, some with young kids. They are the offspring of your sole deceased sibling who you didn't like, but you're trying not to hold that against their offspring. You have no closer relatives related to this decision, like your own parents, spouse, children, grandchildren, aunts, or uncles. The focus is solely on the nephews and nieces, and any children they may have who theoretically benefit later if not now, but whom you've never seen.
2) You aren't close to them by any stretch of the imagination. They always lived in a different city, and the number of times you saw them as they grew up could be counted on two hands. You haven't seen them in 16 years, and even then, it was only due to attending family funerals. You haven't kept in touch in any way whatsoever. They may think you're mad at them due to the crazy antics of their dad, but you're not. It's just a matter of being motivated enough, like a distant cousin or uncle who is out there somewhere, but they could die and you'd never know it.
3) You don't even know where they are without possibly a "people-finder" type online search. So you haven't yet written any letters to track them down to ask if they want to inherit anything, and you're undecided if you even want to. You don't have their phone or email, and you aren't going to contact any other relative to try and get that info.
I could type volumes more, touching on 'drama' like stuff from the past regarding mutual relatives who are no longer in the picture, but it's too much to read, too boring, and your head might explode.
What are the beneficiary alternatives? Friends, a church, or non-profit, but what scares me about churches and non-profits is that their budgets are so high, they would go through my 'gift' within hours, like water down a drain (salaries, current bills, etc.) unless they had a building project to fund, which would have lasting value, but it's all a shell game IMO. The word is 'fungible,' meaning, if you say 'this money is for the current or next building project,' it just means they can pay it off sooner and money that would have finished the project would be allocated somewhere else. The deacons, elders, finance committee, etc. decide all that and there's nothing your stiff corpse can do about it. That's why I don't understand why people 'designate' money unless it's to get a specific thing done faster. (i.e. you'd like them to have a grand piano but they won't if YOU don't pay for it).
I have trouble maintaining objectivity in this situation, hence the post. If you have questions before answering, reply, and I'll try to answer them.
P.S. - I'm also thinking of the children of the aforementioned relatives who presumably would benefit, either thru a head start on their college fund, or passed on in 60 years if their parents don't blow it. If it were up to my own deceased parents/grandparents, I know that's what they would say to do, cause that's what they did. (i.e.-'keep it in the family'). Blood was thicker than non-profits, presumably cause they knew the money could stay invested for their blood offspring for years to come, assuming they didn't blow it all. That includes money for on-going giving to the church of their choice, not just their kid's college education.
I've thought of a lasting trust for a church or non-profit, but that's an unpractical expensive option in my case.
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