People with children who don't have a will are silly people. I have four children and no will - I am very very silly. We have been talking about preparing a will for a few years but have yet to actually sit down with the computer program and hash it all out. Nevertheless, Jim graduated from the silly department yesterday when I made him write a holographic will before he left on a business trip for four days.
Holographic wills are valid in this province so at least we are somewhat covered. This province also has a wacky distribution rule if a spouse (with children) dies intestate, or without a will - so having a will for this reason alone is a great idea. The spouse receives $200,000 of the estate but the remaining balance would go 1/3 to the spouse, and 2/3 in trust to the children, equally distributed. I guess the children would be able to use the money once they reached the age of majority but in the meantime, I think we would be somewhat cash strapped. The holographic will at least solve that problem - I get it all.
I of course haven't actually written down who would get the children. I sometimes (OK often) think it would take a wonderful strong marriage to assume the responsibility for your siblings' four children - one child, not so bad - four kiddos, not so easy. My sister would likely win the prize - her house is much bigger than any of Jim's siblings, and in their Boston suburb four kiddos is much more the norm. I know I could take a couple more (each of my siblings and Jim's siblings all have (or will have) two kiddos - what is that, they must have missed the memo that four is the new two???)
When Jim got home from the airport last night, he put the holographic will in the top drawer of his bedside table. I didn't know where else to put it but I guess the idea of soothing bedside reading of your own will isn't exactly amusing. (It certainly isn't amusing after spending SIX hours at the airport watching your flight die a slow death in 30 minute increments as severe thunderstorms rolled through Toronto last evening.)
He finally made it to his destination today - and I still have the will.
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