Many of us do not like to consider our own mortality. Yet, for people with courage and a sense of responsibility; they do draft a valid, up to date, properly witnessed will, reflecting their wishes for the distribution of their estate when they die. Unfortunately too many people die intestate, meaning they die without a will. It is estimated that 50% of Canadians do not have a valid will.
Recently I was assisting two young men between 21 and 25 years of age. Their mother died suddenly and unexpectedly and she did not have a will. These young men are now thrown into the estate area with no idea of what their mother had, what she wanted done with the residue of her estate nor where her important papers were. What a way to grow up fast! I choose to believe that she did not knowingly intend to leave this mess for her sons to figure out on their own.
This situation although very sad, could have been made easier for the young men if their mother had even drafted a holographic will. This is a document written entirely in your handwriting; that outlines what you have, where it is and what you would like done with your assets.
Where there is a will, there is a win – win for life’s no-win situation. None of us get out alive and death is a given for all of us. Take a few moments to draft a will. Consider 3 what-if scenarios.
1. If you predecease your spouse or partner, what would you want done?
2. If you and your spouse or partner die at the same time, what would you like done.
3. Finally and especially, if you have minor children, or adult dependent children, who would you want to be their guardian or trustee?
These are tough questions and ones we need to consider – to leave a loving legacy.
What do you think? I love getting feedback. And here on this blog, you’ll get commentluv. This is a opportunity if you wish, to leave a link back to your own blog.
http://legacymatters.ca/wp-content/uploads/2016/05/Website-Header-1-300x100.png00Kathttp://legacymatters.ca/wp-content/uploads/2016/05/Website-Header-1-300x100.pngKat2011-11-15 06:52:102013-11-21 10:57:33Will You Die Intestate?