Preflighting for the Final Flight

[okmike]

Pokette
I think you will find the law says if you die testate (with a legal will) your estate does not have to be probated and the will is it. However if you die intestate (without a legal will) distribution of you estate is overseen by a probate court, at least that's the way it is in Oklahoma. Just make sure the will is properly prepared or it will take lawyers and money to straighten things out after you are gone.

 

[Pokette]

I was saying even though my parents and granddad went the expensive lawyer route, it didn't help. It still took a year a paying a lawyer (one of the ones who prepared the trust) a year to work things out... seems like TOD on all large things.. and a simple will would suffice... thanks John, I looked at that site. what about quicken will maker? anyone used that?
Thanks for all the input.. it helps.

 

[sierra bravo]

It used to be you could gift $640K to your heirs while you're alive and skip the death taxes and probate circus. I don't know about the rules and regs.

 

[180Marty]

In Iowa probate is 2% of the estate. If you have one piece of valuable farm land that takes no time to deal with it is 2%. If you live in Minnesota the lawyer charges by the hour to probate your estate so it is a lot cheaper. Also, if you have mutual funds, do not believe your local agent when he tells your mom that when mom has each child's name as co owner that the mutual funds stay out of probate in Iowa. That goes for CD's at the bank also. Ask me how I know. A trust is the way to go if your estate is very valuable and back in the early 2000's you could give $11,000 per kid per year tax free. I think it is a little more now.

 

[OLDCROWE]

Diana,

Call the Bar Association in perhaps another part of the state with a larger pool of council. Get a free 20-30 min. consult (many will arrange that) have/prepare/how you want your estate distributed and get an estimate for the necessary fees and then proceed or take a look at something like prepaid legal. It seems the 1k fee is well high if you have the leg work done for a simple will.

 

[okmike]

Also, if title to your real property is with a Joint Tenancy Deed with Right of Survivorship, title to the real property passes to the other party when you die

Lots of issues, including tax issues, it's always best to see a good attorney, also your accountant can be of help

 

[JP]

Ok, I'll bite.

It is remarkable how many people I see in the course of a year's work who have been sold complicated legal, investment and insurance products that are generally inefficient, expensive and wholly ineffective in achieving a stated desire. It never fails to upset me--especially with elderly clients, who are ripe for fraud and abuse.

Most trust and estate issues can be addressed in a straight-forward, understandable and affordable manner. The same goes for insurance and investments. The more complicated it sounds, the more likely it is that someone is trying to sell you something you don't need.

Be aware that while Federal law with regard to gift and estate taxation amounts is "settled" for the immediate future, individual states differ wildly with regard to estate tax. It's usually a shock to the heirs to discover that while Grandma passed away with an estate exempt under the Federal code, she didn't on the State side and now needs to pay a surprising amount of tax on the amount over the state's exemption amount.

Another colossal and expensive train wreck one gets to observe several times a year are closely held family companies with extensive holdings of value that have done either no estate planning and/or have subscribed to whatever latest fad has emerged in the quest of large legal, insurance and investment companies to make more money. Again, there are some are some very basic ways to preserve and pass the wealth and value of a company to the next generation. An ounce of prevention is worth the expensive pound of a cure (and wrecked family relationships) in this arena.

Finally, the use of legal forms from various vendors for basic wills, health care directives, corporate forms, etc. can be very cost-efficient. I have, on occasion, simply referred someone to a simple form from a vendor to accomplish something, but only where appropriate and suitable for the matter at hand.

Unfortunately, I've also seen on more than one occasion, an inexpensive vendor legal form create quite a bit of expense. I recently witnessed one event where a $14.99 legal form from a popular legal document vendor cost just short of $1,000,000 to sort out. The lawyers that sorted it out had a pretty good time at $400 an hour.

There are competent attorneys, investment, insurance and accounting professionals. They work very hard to take care of their clients in an affordable manner, making sure that what they do is appropriate and suitable for a given client in a given situation. They are counselors in the truest sense. Search, find one and keep him or her as your sounding board. You'll save a ton of money and grief over time.

None of this, of course, is to be considered legal, investment, insurance or tax advice of a specific nature to any individual. Each case will differ. Each person is different. See your legal, insurance, investment or tax/accounting professional for advice specific to your situation.

 

[WindOnHisNose]

Friends, I would like to offer an update for those of you who have followed this thread. Today we saw the final pages of this saga open up to us.

You may recall that a dear friend of mine (ours), Ron Barrows, passed away from pancreatic cancer over two years ago. He was survived by his wife, Kathy, who has been under our watchful eye. Ron and Kathy lived on an airstrip that is known to many of you, the Lino Lakes Airpark. After Ron's passing Kathy asked me to keep my super cub in her/Ron's hangar during the summer months so that she could be reminded of Ron, and so that I could stop in and stay in touch. My wife, Julie, has become a good friend of Kathy's, and they have spent a considerable amount of time together.

Kathy was diagnosed with multiple myeloma about 1.5 years before Ron's diagnosis of pancreatic cancer had been made, and he helped nurture her through her treatment. His passing left such a void for Kathy. I have flown in and out of her hangar since his passing, and have enjoyed doing so. It brings me back to the hangar/workshop of my dear friend, and keeps me in touch with Kathy.

Today I received a call from Julie to get over to Kathy's quickly, as she was slipping away. I did so over the lunch hour, was able to say goodbye and Julie notified me a short time later that Kathy had passed away.

I suspect that she was reunited with Ron this afternoon, and what a glorious reunion that must have been.

I am sure that their home will be sold, and that is sad, just as the loss of these two great people is difficult to deal with. Ron's hangar, you may recall, has been the site at which Santa Claus flies his red and white supercub to meet the children of that community, to celebrate the life that Ron and Kathy held tight.

This ends a very important part of my life, as these two were so important to me. I join Julie, and those here who knew Ron and Kathy, in wishing them God Speed. We thank them for what they taught us about life, and about death.



At last, together, again...


Randy

 

[sj]

Randy,

A very beautiful tribute. My sincere condolences to you and Julie.

sj

 

[cafi19]

Randy and Julie,

So sorry for your loss. May your fond memories of such dear friends sustain you in this difficulty time and beyond.

Laura

 

[OLDCROWE]

Randy and Julie,

The loss hurts because as you have described they were and will continue to be true friends.

Kirby

 

[barbwire]

So sorry for your loss Randy.

 

[WindOnHisNose]

At the risk of bringing up a sad topic during the Holiday Season, I wanted to reflect again upon this really important subject.

I received a phone call from one of our members who has a friend with a newly diagnosed cancer...one that really carries with it serious consequences, one which may lead the aviator-patient to take a different look at things. I bring this up because I can tell you that the thoughts that were shared on this thread make it one of the threads that has lead to more phone calls than any other I have written.

We are all facing our Final Flight. Some of us just have some insight into the fact that our final flight may be coming relatively soon, with a warning. I think it is important for us to contemplate how we are going to preflight for this for many reasons. First, I want to have some idea as to how I am going to prepare myself for that flight. Second, I want to minimize struggles for my family and friends during what will be a difficult time for them.

If you haven't completed a "Living Will", or "Health Care Plan" please take a moment to do so. This isn't about your Last Will and Testament, but rather your final flight plan that you carefully craft to let others know how you want things to go if you are unable to verbalize or communicate your plans any longer...when you have lost "radio contact". It if my impression, based upon experiences I have shared here, that having that flight plan filed is reassuring for the aviator going West as much as it is for our "crew". It is the ultimate cockpit resource management tool. I chose "Five Wishes" (https://agingwithdignity.org/five-wishes/about-five-wishes) as the flight plan form that was easiest to use for me, and for Ron and others who I have had the privilege of helping.

Well, I offer this advice with love and compassion for you, not as a "downer" to depress you during this time of the year. I hope it will be a long, long time before you take your final flight.

Respectfully submitted,

Randy

 

[JP]

What Randy said. I see this on a regular basis and he's spot on. Please, please, please get you Advanced Health Care Directive (aka "living will") and a state compliant Power of Attorney done and or updated on occasion.

Now, for those of you who actually have assets left after your flying hobby/addiction, please see a qualified estate planning attorney (no, not repeat not your "financial adviser") and get your wooster together. You will save your family tons of time and money by spending a bit of money up front to get it done correctly so that everything you want to have happen happens when you launch on the final takeoff and that things have properly legally set up to make that happen. The basics are surprisingly simple to accomplish and a qualified, competent estate planning counsel can make it all happen for you.

I am constantly amazed at the people that land in my office with a huge mess after someone has passed away that I now get to sort out at my going rate. But, they say, my friend said that....I read on the internet that....I wanted to avoid probate...they said this living trust would avoid estate taxes.... You get the picture. Pay for a proper pre-flight and ongoing maintenance. Crashes are damn expensive.

End of lecture.

JP

 

[Yarddart]

tough memories my father died of pancreatic cancer and I gave him his last flight thanks for the post.

 

[WindOnHisNose]

It has been a long time since I started this thread, and given the fact that since this was published here we have lost many friends and family members to cancer and to other illnesses. Please take a moment to read "Final Flight". Thanks to those who have pm'd me about the usefulness of the concept we discussed here with regard to how they were able to help loved ones through a very important and difficult time.

Thanks!

Randy

 

[WindOnHisNose]

It has been a long time since I lost my dear friend, from whom I learned so much. Some of you have spent time in the hangar that he helped build for me. Someone just posted "thanks" for this, and I thought it time to let it resurface...it has been 6 years! Still pertinent.

Randy

p.s. Posts 1, 6 and 38 are perhaps the most significant. For those who follow "Flying Santa", my friend Ron was the inspiration for that part of my aviation life.

 

[WindOnHisNose]

It is with a heavy heart that I am bringing this thread back to front and center as many of us here have become friends with a person who wishes anonymity who is on his "final flight". In particular, I received a message today from another Supercub.org contributor who mentioned how difficult it is to be a close friend of this awesome colleague and not be able to communicate directly with him. It hurts to be in that position, but something I learned from the passing of my dear friend, Ron, comes to my mind. To spare you some time in going through this thread, please let me paraphrase...

Ron was a very outgoing person and aviation advocate, the kind of person who can walk into a room full of strangers and become quickly engaged in the conversations without being overbearing. We all know people like this, and appreciate them.

When he was in the final phases of his battle with pancreatic cancer it was difficult for all of us who considered him to be a dear friend. We wanted to be there to support him, as did his family members, but as his Final Flight was concluding he chose to limit those who he could see to fewer, and fewer and fewer...including his friends and family. Many of his friends could not understand why he didn't feel he could spend even a few moments with him. Ron's wife and I were the two who he chose to request to have by his side as he passed away, and I found myself trying to be the intermediary between Ron and his large group of aviation friends. I became acutely aware of the important role the Hospice people played in his Final Flight, and gained a huge amount of respect for what they offer, and how they offer their care and support not only to the person who is passing, but also to that person's dear family and friends. It led me to the following analogy, and I hope you will indulge me and follow along as I attempt to shed light on the observations of the Hospice team as they consoled those friends and family members who found themselves on the outside looking in. This was a common and predictable part of the process, according to them.

The final days of our Final Flight are like a long cross country flight. As we are enroute to our Final Destination we are at altitude, smoothly flying along with an aircraft full of friends and family. The pilot in command receives a radio transmission from the Air Boss, and that transmission states that he is needing to prepare to land at an airport that is quite a distance from where he thought was going. He acknowledged the Air Boss and informs all onboard of the request, and asks that they all serve as good crew persons and prepare for the landing of what would be his Final Flight.

There is considerable chatter on the intercom system, some questioning why it is necessary for ending of this flight, some wondering if there is something they could do to make the Final Flight more comfortable.

As the pilot approached the Final Airport he began to go through his checklists so as to make sure the landing would be safe and smooth. He was aware that preparing for the landing was critically important for a safe and smooth landing.

He announces that he is entering the Final Pattern on the downwind and he asks all his passenger friends and family to fasten their seatbelts, and to limit the amount of chatter so that he and his copilot could complete their checklists, and the passengers comply. As he enters the downwind and comes abeam the numbers he shifts his focus on those numbers and isolates all who can communicate with him, limiting this to his copilot and to the Air Boss, puts down a notch of flaps and reduces the throttle.

Things slow down. The passengers sit back and watch as these things slow down, as terra firma comes a bit closer, and some turbulence is experienced and it is a weird feeling for these people...all pilots themselves...must sit, giving up control, watching as the aircraft is coming in for the pilots Final Landing.

The Air Boss instructs the pilot to turn onto the Final and the pilot skillfully does so, glancing over to his co-pilot, asking for another notch of flaps to slow that baby down. The co-pilot complies and is filled with emotions as that co-pilot recognizes that this will be the last final approach that she will make with the pilot. The pilot pulls back on the throttle as the aircraft slows more, and as the last few moments of the flight pass by the pilot blocks out all other thoughts, ends all other communications...even with his trusted co-pilot...and he feels for the runway. Deftly. Skillfully.

The aircraft is taxied to the ramp and all disembark from the aircraft in silence. After all the passengers have left the aircraft the pilot looks at the co-pilot, smiles and invites the co-pilot to leave him alone on this beautiful aircraft, and the co-pilot leaves and joins the many passengers who have congregated outside the aircraft, grateful for having been blessed with joining the pilot for his Final Flight.


I hope this writing will be of help to those of you who are losing a friend who is now on base, ready to turn final, on his Final Flight. My heart is heavy in writing this, but I truly think that understanding the last days of our friends or loved ones is very helpful, and explains what our Hospice team has witnessed time and time again.

God Bless You All

Doc R

 

[Colorguns]

Doc R

Thank you,! well written and covers so much more than than the pilots around us.
It hits home in so many ways.

Colorguns

 

[FdxLou]

RandyBob,
This comes at a most critical time for many of us who are losing close friends way too often.
Tailwinds and Blue Sky's my friends.
Lou

 

[On Patrol]

On the one hand I can understand our friend wanting to make this journey alone. It should not be about us. On the other I see my friends who all had a very close relationship and feel so helpless. Our friend will not beat this and is destined for the hereafter. His wife and life copilot will be left alone. We will grieve for him and for her. There is always the reality of life drifting away. Two years ago I was forced to have the ventilator turned off on my younger brother after COVID ravaged his lungs. I sat there with my sister and my son. I held his hand and listened to the heart beat machine slow until the nurse silenced the noise. Then I watched the pink drain from his face and felt his hand go cold. I have yet to erase this memory and never want to go through it again. I will miss our soft spoken friend and his great advice. He deserves a longer run and bigger bite at the apple.