Estate Planning For Pilots

Matthew said:
That's part of it. A living will sets up the type of medical care you want to receive if you can't speak for yourself. But you'll also need to appoint a power of attorney so someone can make medical decisions for you, and a power of attorney so someone can make financial decisions for you.

This is way less stressful on the family to do in advance.
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I thought he was specifically talking about the what you want done part / how you want things handled. But yes, if you do a power of attorney, remember it has to be specific, especially when dealing with property or it won't hold up
 
POA is a great place to remind people to do estate planning, not such a great place to give advice regarding estate planning. Laws vary from state to state and the law of intestate ( dying without a will) succession may differ as well.

Some states living trusts are big some they are hardly ever used. You really need to know what you are doing.

Best advice is really to hire an estate planning attorney to assist you. I've seen a lot of screw ups with those do it yourself templates.
 
Mailing things to yourself proves nothing by the way. It doesn't even work for copyright/patent date priority. Do it correctly.
 
SixPapaCharlie said:
How?
Can I just write out my wishes and get it notarized or mail it to myself or do I have to pay a guy?
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I don't know about Texas, but in California you can write it out all in long hand and sign it. That is called a Holographic will. If you type it out, it must be witnessed by two people. Notary is not necessary and is not effective, though a notary could be one of the witnesses. The only restriction on the witnesses is that they can't be a beneficiary. There are a few little gotchas as to form, but otherwise it is relatively simple.

If you don't have much of anything, the handwritten will works pretty well. If you have multiple heirs and some assets, get an attorney.
 
N801BH said:
Single guy now.... Some goes to a local family I trust 100%...

The rest is going the the EAA Young Eagles program and a scholarship for female pilots since gals only account for 9% of licensed pilots....

I want to change that, and a 7 figure gift will go far...:yes:....
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Ever occur to you that maybe gals just don't want to be pilots?
 
ClimbnSink said:
Ever occur to you that maybe gals just don't want to be pilots?
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Nope......

They are 54% of the world population....

Surely we can do better then 9% of American females and 2% of the world population....:yes:
 
Stewartb said:
Even a will has to go through probate so make sure it's set up correctly.

I went with a trust. And a good trust attorney. Everybody's situations are different. There's no substitute for good counsel from a qualified person who is familiar with your financial details. Death and taxes are serious stuff.
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One has an iron clad will, written by a pro to avoid probate. It's well worth the time and money to hire a good estate planner- attorney. I speak of maryland law as thats where we reside. We wrote it so nothing is left to chance.
 
N801BH said:
Nope......

They are 54% of the world population....

Surely we can do better then 9% of American females and 2% of the world population....:yes:
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Should we bequeath money so more boys can play with dolls? Probably less then 9%/of boys play with dolls.
 
ClimbnSink said:
Should we bequeath money so more boys can play with dolls? Probably less then 9%/of boys play with dolls.
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It is my money...

I worked my ass off for it....

And I am going to disperse it as I see fit....:yes::yes::yes::yes:
 
ClimbnSink said:
Should we bequeath money so more boys can play with dolls? Probably less then 9%/of boys play with dolls.
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If playing with dolls is your thing then have at it. Maybe your attitude would improve...
 
N801BH said:
It is my money...

I worked my ass off for it....

And I am going to disperse it as I see fit....:yes::yes::yes::yes:
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That's cool, no problem with that. Just pointless, women are 9% of the pilot population because only that many women want to be pilots. A couple of percentage points of that crowd are pilots because it is the only way they can get that level of male attention. Silliness.
 
Clark1961 said:
If playing with dolls is your thing then have at it. Maybe your attitude would improve...
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Answer me this; if women being underrepresented as pilots is a problem why wouldn't boys being underrepresented as playing with dolls also be a problem worth solving?
 
ClimbnSink said:
Answer me this; if women being underrepresented as pilots is a problem why wouldn't boys being underrepresented as playing with dolls also be a problem worth solving?
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I typed that maybe your attitude would improve...it's got a long way to go.
 
ClimbnSink said:
Ever occur to you that maybe gals just don't want to be pilots?
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All 3.5+ billion of them. Have you polled them?

I didn't grow up wanting to fly. At 21 I was exposed to flying and fell in love with it.
 
ClimbnSink said:
Answer me this; if women being underrepresented as pilots is a problem why wouldn't boys being underrepresented as playing with dolls also be a problem worth solving?
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What makes you think boys don't play with dolls. My brother had G.I. Joes and army men. Looked like dolls to me. He did get seriously upset when I trying to bottle feed his G.I. Joe. :lol:
 
Kristin said:
What makes you think boys don't play with dolls. My brother had G.I. Joes and army men. Looked like dolls to me. He did get seriously upset when I trying to bottle feed his G.I. Joe. :lol:
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:mad: Now it's personal!






:D
 
Kristin said:
All 3.5+ billion of them. Have you polled them?

I didn't grow up wanting to fly. At 21 I was exposed to flying and fell in love with it.
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No need to poll them their choices are clear. Nothing is stopping them, only a few percent of women want to fly.
 
ClimbnSink said:
I hope you deal with weather and mechanical realities better then you deal with human nature realities.
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So you are claiming that it is just your nature to display a **** poor attitude towards other people's choices?
 
ClimbnSink said:
No need to poll them their choices are clear. Nothing is stopping them, only a few percent of women want to fly.
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Even if you want to, you can't fly in a Burka. All cultures surround women with some form of Burka. Some are just easier to shed than others.
 
ClimbnSink said:
I hope you deal with weather and mechanical realities better then you deal with human nature realities.
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I seriously doubt you have a clue as to the difference between nature and nurture. Pilot_Dude might have been on to something.
 
ClimbnSink said:
No need to poll them their choices are clear. Nothing is stopping them, only a few percent of women want to fly.
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My observation is this...

I am based at a small town in the middle of nowhere....

I fly almost daily and alot of people here know I have a plane..

Several times a year I get calls from out of the blue asking if I would take them flying.. Between those calls and people just wondering into the FBO asking questions it is apparent that more then 1/2 are gals /mothers wanting get a ride in a small plane.

Of those, the young girls are more interested in flight the the young boys.. Why, I don't know...:confused::confused::confused:

Usually , after the flight, I engage in a friendly conversation with the family and most times the gals /girls will hint that they would love to fly but females won't make good pilots....

Must be some bizarre concept ingrained in them at an early age:dunno:..


That needs to be changed IMHO....

Just my take of things....

Ben.
 
Kristin said:
Even if you want to, you can't fly in a Burka. All cultures surround women with some form of Burka. Some are just easier to shed than others.
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Oh geez, men can't fly in Burka either. You aren't a lawyer, I hope, arguing like that.:yikes::yikes:
 
Women want a ride(not to figure it out and master a machine), the girls desires will change post puberty. Hence the small number of women pilots.
N801BH said:
My observation is this...

I am based at a small town in the middle of nowhere....

I fly almost daily and alot of people here know I have a plane..

Several times a year I get calls from out of the blue asking if I would take them flying.. Between those calls and people just wondering into the FBO asking questions it is apparent that more then 1/2 are gals /mothers wanting get a ride in a small plane.

Of those, the young girls are more interested in flight the the young boys.. Why, I don't know...:confused::confused::confused:

Usually , after the flight, I engage in a friendly conversation with the family and most times the gals /girls will hint that they would love to fly but females won't make good pilots....

Must be some bizarre concept ingrained in them at an early age:dunno:..


That needs to be changed IMHO....

Just my take of things....

Ben.
Click to expand...
 
N801BH said:
My observation is this...

I am based at a small town in the middle of nowhere....

I fly almost daily and alot of people here know I have a plane..

Several times a year I get calls from out of the blue asking if I would take them flying.. Between those calls and people just wondering into the FBO asking questions it is apparent that more then 1/2 are gals /mothers wanting get a ride in a small plane.

Of those, the young girls are more interested in flight the the young boys.. Why, I don't know...:confused::confused::confused:

Usually , after the flight, I engage in a friendly conversation with the family and most times the gals /girls will hint that they would love to fly but females won't make good pilots....

Must be some bizarre concept ingrained in them at an early age:dunno:..


That needs to be changed IMHO....

Just my take of things....

Ben.
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Women/girls get all sorts of messages from our culture about what is proper for a female. Until those messages change, and they are slowly, there will be a vast disparity between men and women in the cockpit.

I think that there will always be somewhat of a disparity as the lifestyle is bit problematic if you want to have a family. You can see that at play when you note that there are probably a greater percentage of female flight instructors than there are female airline or corporate pilots.
 
ClimbnSink said:
Oh geez, men can't fly in Burka either. You aren't a lawyer, I hope, arguing like that.:yikes::yikes:
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When I argue to a jury I keep it to single syllable words and black and white concepts that play to their prejudices. Since I am not trying to convince you, and am not dumbing down the argument to where you might understand the point I am making.
 
Kristin said:
When I argue to a jury I keep it to single syllable words and black and white concepts that play to their prejudices. Since I am not trying to convince you, and am not dumbing down the argument to where you might understand the point I am making.
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Invoking the Burkanese strawlady is pretty dumb. Though I heard she is hot(for a strawlady) anyone got a picture?
 
Hogwash.

If a woman wants to learn to fly she can, not like a bunch of guys are goin to beat her up after she leaves the FBO, not like people are goin to be saying "you know Sally is a....pilot!"

Id wager it the other way, I've met a few women who were hired over more qualified men for flying jobs.

Nothing holding women back from flying, other than a lack of interest on their part, same deal with blacks, native Americans etc.
 
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AdamZ said:
POA is a great place to remind people to do estate planning, not such a great place to give advice regarding estate planning. Laws vary from state to state and the law of intestate ( dying without a will) succession may differ as well.

Some states living trusts are big some they are hardly ever used. You really need to know what you are doing.

Best advice is really to hire an estate planning attorney to assist you. I've seen a lot of screw ups with those do it yourself templates.
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+1

Do-it-yourself wills also completely ignore the tax aspects of estate planning. If you have a substantial estate, chances are the inheritance will be substantially taxed unless you take proper steps to mitigate.
 
James331 said:
Hogwash.

If a woman wants to learn to fly she can, not like a bunch of guys are goin to beat her up after she leaves the FBO, not like people are goin to be saying "you know Sally is a....pilot!"

Id wager it the other way, I've met a few women who were hired over more qualified men for flying jobs.

Nothing holding women back from flying, other than a lack of interest on their part, same deal with blacks, native Americans etc.
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No sense wrestling with a pig. :dunno:
 
James331 said:
Hogwash.

If a woman wants to learn to fly she can, not like a bunch of guys are goin to beat her up after she leaves the FBO, not like people are goin to be saying "you know Sally is a....pilot!"

Id wager it the other way, I've met a few women who were hired over more qualified men for flying jobs.

Nothing holding women back from flying, other than a lack of interest on their part, same deal with blacks, native Americans etc.
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I am thinking you haven't been too involved in professional aviation. Even with the gains that woman has made in the airlines, mostly under court order in the 80's, there are still pockets of professional aviation where it is a definite handicap being female. Many of the good entry level corporate jobs it just a plane or two are not an option as the pilot is not about to hire a female copilot to travel with, lest it rile up his marriage.

So if women get an extra look in some places, in others she gets excluded.

Whatever! It is much better than it was.
 
People seem to forget, or ignore what women flew, and how successful they were during WW2! They flew them all, from P51s to B17s, B24s, P 47s, the whole nine yards! Two women have flown the U2 , one going on to fly airlines, then the prince of Dubi, then becoming an MD. On and on, not to mention Jacky Cochran who made Amelia Erheart look like a beginner! Then there were the Russian women who flew in WW2, mostly fighters. They were deadly. Etc. etc.
 
Kristin said:
Women/girls get all sorts of messages from our culture about what is proper for a female. Until those messages change, and they are slowly, there will be a vast disparity between men and women in the cockpit.

I think that there will always be somewhat of a disparity as the lifestyle is bit problematic if you want to have a family. You can see that at play when you note that there are probably a greater percentage of female flight instructors than there are female airline or corporate pilots.
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I agree 100%.......
 
Flying Viking said:
+1



Do-it-yourself wills also completely ignore the tax aspects of estate planning. If you have a substantial estate, chances are the inheritance will be substantially taxed unless you take proper steps to mitigate.
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Right now that would have to be above roughly $5M. Very few people above that number don't have a number of professionals already telling them exactly how to handle it. Long before death.
 
Having dealt with my father's estate, here's what I can tell you: The law has an interest in providing for widows and orphans. After that, it assumes you'll be leaving your estate to either blood or legal relatives. If, for example, you are a married man with minor children, and your will states that your wife receives your entire estate, that is exactly what will happen. In that circumstance, the will is virtually unchallengeable.

Like I said, the law likes to provide for widows and minor children. There are states where it is not possible to disinherit your spouse and/or children. The spouse can sue for a forced share, and he or she will receive it. Now, also consider that in the eyes of the law, marriage is binary, you are either married or you are not. Once the celebrant signs your marriage license you are married, and will remain so until a judge signs your divorce agreement or an annulment, or your spouse dies. Even if you are in the middle of divorce proceedings, you are married, and your spouse is entitled to a forced share, assuming your state allows for one.

Now, your personal property, any intangibles such as securities and bank accounts, and any real estate in your state of residence is adjudicated in that state. Any real property you hold in any other state is subject to that state's law, not that of your home state. If that state provides for a forced share, your spouse or children will be entitled to that as well.

I suspect you can get around this with a trust. I didn't have one to deal with so I don't know. If you don't have complications in your life, you probably don't need one. Our will is drawn up in a way to allow for pretty much any eventuality. If either my wife or I die before the other, than the other receives the entire estate. If we both die, and either of our children survive, then a trust is set up for their benefit, with my brother in law as the trustee, and also as their guardian. If all four of us die, then the estate is to be distributed to all of our living parents and siblings in equal shares, with my brother in law as the executor. Since the time that the will was drawn up, both my inlaws have died. My father died before I was married, so the only ones left are my mother, sister, and brother in law. This has worked out well because we had the will drawn up 16 years ago, and it is still valid and usable, we don't have to have it updated because of a birth or death.
 
Kristin said:
I am thinking you haven't been too involved in professional aviation. Even with the gains that woman has made in the airlines, mostly under court order in the 80's, there are still pockets of professional aviation where it is a definite handicap being female. Many of the good entry level corporate jobs it just a plane or two are not an option as the pilot is not about to hire a female copilot to travel with, lest it rile up his marriage.

So if women get an extra look in some places, in others she gets excluded.

Whatever! It is much better than it was.
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Ba ha ha ha

I've just been making a living off flying for quite a few years.

I can think of half a dozen jobs off hand that I would have been able to get if I were a attractive blonde, jobs where the other applicants had twice the hours.

If I were black and a female, probably a few more.

Now smaller companies that don't have to worry about corporate image, companies where pilots hire not HR types, where they care more about your log book and your personality, and give less of a chit over your race or gender or any of that irrelevant crap, that's a diffrent story.

I just get so sick of females, blacks, Latin Americans, midgets, cross eyed people, whatever, saying they didn't get the job because of XZY, sometimes it isn't your race, your gender, your disability, you didn't get the job beacuse of YOU.
 
James331 said:
Ba ha ha ha

I've just been making a living off flying for quite a few years.

I can think of half a dozen jobs off hand that I would have been able to get if I were a attractive blonde, jobs where the other applicants had twice the hours.

If I were black and a female, probably a few more.

Now smaller companies that don't have to worry about corporate image, companies where pilots hire not HR types, where they care more about your log book and your personality, and give less of a chit over your race or gender or any of that irrelevant crap, that's a diffrent story.

I just get so sick of females, blacks, Latin Americans, midgets, cross eyed people, whatever, saying they didn't get the job because of XZY, sometimes it isn't your race, your gender, your disability, you didn't get the job beacuse of YOU.
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There are a lot of jobs you can't get as an attractive blonde. Like the aforementioned small company that only hires on qualifications unless you are a buddy of the pilot in which case credentials don't matter. And of course, if you are an attractive blonde, you aren't going to get hired no matter how impressive your credentials unless the pilot hiring is looking toward getting divorced anyway.

At times there have companies hiring on gender and not qualifications. The FAA was big on that for awhile. After United signed the consent decree to settle a lawsuit, they rushed out to hire all the females they could find, and I am sure that most were not as qualified as the guys applying at that time. That system gets pulled all out of shape when you try to rectify a wrong in months that took decades to create.
 
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