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I wish my parents had rolled their PERS into an IRA, they both would have been better off I think. I am not sure, but I think my mom did not get my dad's PERS after he died and I know we didn't.

That is what I don't like about most pension systems - they generally do not go to survivors. Ditto with SSI - my daughter won't get the thousands I have had to pay into SSI if I die before I get the benefits from it.
 
Interesting, I clicked on this topic to get caught up on what i missed. And sometimes I read the last post first. What was the original topic?

I have some experience with PERS. In every case, the survivor continues to receive benefits, unless it was specifically set up to disclude the survivor. In that case, both spouses had to agree to it. And it's a forever decision. And my non-pers pension has always been the same way. My spouse continues to get my benefits when I'm gone. If I didn't want that to happen, my wife would have had to agree to it.

The benefit of signing off survivor benefits, is the survivor-excluded pension is a little bit higher than when it has the survivor benefit.
 
I could be wrong about my mother, but I seem to recall her saying she didn't get any of my dad's pension.

I do know for sure that none of us kids got anything from PERS after she died. I didn't expect anything, pensions rarely work that way. I never worked anywhere that had a pension long enough to get a pension - the military was the only one that I could have done that in and it wasn't worth it for me to re-enlist (I made a LOT more in the private sector anyway). I did work for the state for 90 days once on a temp job, but of course that would not qualify either.

But back to firearms - I did inherit most of my father's firearms (some of which I had gifted to him). Most of them I have sold except his hunting rifle, some I gave to other family members.
 
My wife has no interest in my guns, so I don't show her most of the them when I get new ones. Most other the recently acquired guns looks similar, at least to her. She'd pass a brick if she knew what the last gun cost. Fortunately I got it at a less than market value, so it's worth about $2k more than I paid for it.
 
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I've recently been involved with helping the daughter of a best friend (lucky guy, he passed while elk hunting) value his guns. It caused me pause. I realized it would be best to list my guns on a spread sheet with approx. values. I've named two trusted friends for her to ask for help. As I was doing this I realized that there were some I wanted passed on to friends and family and have identified those as such. This action has given me much peace.
 
My wife gave me a little grief recently, but only cuz I've run out of room in the safe!
She has her own guns, some she's bought for herself unassisted. We also hunt together. I'm pretty proud of her.

She knows about all of the guns I've bought and sold, or like mentioned previously, she knew about them at the time of the transaction.
I think it would be a very good idea to list guns and values. Although many go to family, it's still a good idea to know the values.
 
A friend of mine's dad just passed away at the age of 95. Six years ago his dad informed him that he wasn't going to pay for his life insurance policy anymore, and if he wanted to receive the 1.6 million policy payout, then he should pay the $15,000 a year premium.
my friend managed to scrape up the extra cash and in a couple of weeks the insurance company is cutting the check.
 
A friend of mine's dad just passed away at the age of 95. Six years ago his dad informed him that he wasn't going to pay for his life insurance policy anymore, and if he wanted to receive the 1.6 million policy payout, then he should pay the $15,000 a year premium.
my friend managed to scrape up the extra cash and in a couple of weeks the insurance company is cutting the check.


That's kinda sick, and cool all at the same time....
 
That's what life insurance is all about. A good portion of the payout will go to pay the sizable inheritance taxes.
The IRS has no problem reliving you of the hard earned assets that your parents accrued during their lifetime.
 
As The Heretic said, only if it is over 5 million.

Life insurance policies are fairly common in business partnerships to protect the assets and operations of the business. When my wife and I were trying to put together a deal for her step dads farm about 25 years ago, I was going to have to carry a 3 million dollar policy on him so I could pay out his daughters on their share of the farm. The deal never worked out, but he set up his estate so that everybody was well taken care of, and he too was all business. He lived to 89 and managed his stocks up until a couple months before his death.
 
... Most other the recently acquired guns looks similar, at least to her. ...

I've never hunted for Elk and thought maybe I'd try this year, and there's no better excuse for getting something new. I walked by her many times with the new rifle while packing for the range and she didn't notice it at all. To her, it just looks like a stick, a tube, and I suppose the scope is a carrying handle in her view.
 

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