There is no way the parents would take that much time (i.e. writing letters) to designate the guardian of their children without having life insurance! Especially since they lived in such a nice home. Life insurance is at best $200 per year. It made no sense! She could have at least sold their home and possessions.
It would have made more sense if her sis and husband were poor to begin with.
A major flaw in life is buying insurance you can't afford (which is most of life insurance).
I was mildly amused recently when my ex announced to me that she will not be making the premium payments on my life insurance anymore (which she had been paying for more decades than I will admit), and that I could pick them up if I wanted. (I haven't done her the courtesy of dying so she could collect.) The company walked off with years and years of free money.
Buying term insurance at their age would have been very affordable, about what you would spend on lottery tickets
sharemy whole life has been a lie
Dear Diary.... JACKPOT
I didnt think of that, lol! I wondered why Helen was so poor when she had the kids and I thought, 'didnt they have any money to give her to friggen look after them?' Yeah, that was stupid. I thought they DID sell the home, but it was to pay off the huge mortgage--what the hell actually HAPPENED?? arrghh confusing!
"You little piece of dribble-piss!!"
--the ab fab Patsy Stone
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I don't know why, but I assumed some kind of financial settlement came along with the custody of the kids. I mean Helen was a single woman and I can't believe Lindsey and her husband expected Helen to raise three kids on her income.
shareWhat makes you think that they didn't? Even if they did have insurance, it doesn't necesssarily mean you're rich once someone dies. Most life insurance policies are usually around $250K to possibly $500K. And it's not like the kids are not going to live for free for the rest of their childhood. The upkeep of those children is going to be well over $10K a year assuming their going to public schools. Add another $11K a year if they're going to a private school. Then there is their college tuition that needs to come out of that.
Furthermore, when someone dies all their outstanding bills get paid out from the estate before money passes into anyone's hands.
Why didn't they have it in their mortgage a death clause, where in the event of their death the mortgage is paid off? We had that on ours.
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wouldn't the life insurance money be kept for the 3 kids for when there old enough to be responsible with it. Thats usually what happens it wouldn't go to there guardian.
I don't know how it works with life insurance and such, but isn't there often probate on things? I know when my grandmother died, no one saw any money or things (such as cars, money from the house being sold) for atleast a year. Maybe that had to do with it too? Just an idea...
shareMortgage insurance is expensive and unnecessary. Just get normal term life and pay off the mortgage with the proceeds if it comes to that.
shareYou are right. A mortgauge needs an insurance policy and in fact, the guardian would be well provided for. The letters attest to their children still being young. The oldest is 15!!!!!
We have to allow for artistic license I guess.
Trish
I spelt MORTGUAGE badly
shareYou didn't spell it badly if you were trying to spell it that way.
He's taking the knife out of the Cheese!
Do you think he wants some cheese?
You're nice!!!!!
I wish my critics at work would give me the same break from time to time to make a spelling error.
Hey
Tell me a bit about your quote-----please.
i'm watching it right now and i thought i heard something about a trust in each of the kids names i'm not sure if that has anything to do with it or not though
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Its actually social security she would be collecting. My dad just passed away and all the kids under 18 get like 900 hundred a month. well actually there mothers get it.
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