The Business End Of The Relationship.

[Bruce]

I have had some conversations in the past about relationships and pre existing children and money and property with Kanos who thought about coming to Phils but always managed to talk themselves out of it.

 

So, I am here to tell those who may be lurking in the shadows that such things are easy to over come. First asess your goals and then form a plan. Do you want to travel to Phils and retire or retire there on a part time basis? Or, do you want to bring a woman friend home to your country? This is important because there are thousand upon thousands of available women of many ages who may be suitable. But, due to Philippine law, they can not get a divorce or annulment (EASILY) and unless single or a widow, they can not leave Phils. This is not a bad thing.

 

It allows you  to travel to Phils to retire or part time retire. Since 'she' can not leave Phils you simply set up a future that way. Depending on your age or goals and finances. If your new found love can not leave Phils... and perhaps you intentionally found a wonderful woman based upon the knowledge she can not leave Phils, this removes most issues with your kids in your country and your property. Most competent attorneys can set up trusts very cheaply and prenup agreements that NEED to be reviewed and translated and duly signed in Phils by a Phils attorney.... IF you intend to marry. 

 

But then if she is separated, even for 30 years... no marriage until she is a widow... a safety net for you??? This is where the BUSINESS end of the relationship comes in.

 

Years ago I knew a guy named Jerry (short for an Italian name starting with a G that escapes me now) He was a retired bus driver from Miami. But of course, born in New York and came to Miami after WWII. In the war, he was stationed in the south pacific and got married and had a son. After the war ended, he got on a ship, came home went to Miami and started a new life and new wife... NEVER looking back at the wife / son he left in the South Pacific.

 

NOT a good thing in my book.

 

So, what to do what to do. Simple! A $50,000 life insurance policy for most of us is a reasonable cost expenditure. 50K is = to about 2 mil pesos. (USD) made payable to the new girl friend WHOM YOU DO NOT TELL. No need to have a target on your back. If you already have a large policy in your home country, you have the option to make a beneficary change to include her and at what % pay out you want.

 

This way you can live out your life  as you would and when your time is up or you return to your home country never to return to Phils due to health reasons, you can feel somewhat comfortable that when you die, any loose ends in Phils can be taken care of....  

 

So, by planning ahead you can steer your life somewhat and not have to upset your adult children in your home country that you are going to marry some strange woman and she will steal any inheritance you may have intended to leave them. You can have a relationship and retirement in Phils or semi retirement in Phils and return as you can financially.

 

Business details can seem cold and ... well...Business like! But by looking at the options and using the resourses at hand, you can actually have a 2nd chance at 'companship' for your older years without having to deal so much with a 1st generation family issues.

Edited March 3, 2013 by Bruce

[i am bob]

That is a great idea Bruce...  

 

But what about that Adultery charge by the ex who sees Kano millions?

 

Sometimes it is good, sometimes you just have to run away.  

[Bruce]

That is a great idea Bruce...  

 

But what about that Adultery charge by the ex who sees Kano millions?

 

Sometimes it is good, sometimes you just have to run away.  

 

I have found that most exes have their own new wife and family...... Also, on the back end, is (your) new wife type person and her family who do not want the ex to run off their new found (gold-silver-copper-zinc-borax ... pick one that suits) MINE. While maybe legal, I have not heard of wide spread use of this charge.  

[davewe]

I have an alternative plan - don't tell your adult children that they are going to inherit a bunch of money when you die :)

 

Actually I like many aspects of your plan, including the life insurance policy. I do understand the notion of not wanting to put a target on your back, but for me I would tell my soon to be wife. I don't want to worry her about what might happen if I die. I want her to know that there will be something left for her in that circumstance. Of course if you actually do get married, there are potential social security benefits, retirement benefits, etc. 

 

I have a different problem. My fiancé is young enough that she cannot deal with my future death and issues like wills or insurance, etc. are often met with fear: "I don't want to think of such things." or "I don't want you to die before me." So I will set things up myself, let her know she will be taken care of, and leave the issue alone.

 

I have seen so many families in the West get screwed up over the inheritance thing, even when the inheritance is relatively small. So my goal is to have enough to take care of the kids when they are college age (or just beyond) - but they are on their own when they are independent adults. 

 

But as I say, I like your solid thinking. At the least it demonstrates that there are many ways to approaching this thing.

 

 

[Bruce]

Well I do believe in paying for services rendered. I am not getting married to anyone in Phils. But I still do feel an obligation. In following my plan or a similar one, an older  guy can go to Phils and have a relationship or even start a family. Tony Randall had a kid at 80. It happens!

 

So the life insurance aspect  is a possibility to provide in Phils, a future for your wife / GF and kids. 50K is the US is not going to go far. But in Phils, can last for years. (Insert family horror story HERE)

 

However, the down side is the Bing Crosby game where he paid his house help the minimum he could always say he would leave

 them well off in his will..... he LIED! :th_unfair: