I wonder if most of us give much thought to what happens to our children (or spouses/mates, for that matter) should something happen to us.

The 'best' that could happen if we die without a Will and the children's other parent dies along with us ... a Grandparent or other relative could take custody of them - but only after usually horrific legal costs and often after children being placed in temporary foster care until the Law settles their future. And who's to say that the person getting them is really who we would have chosen if we'd taken an hour to write down our wishes for their future care and had our signature witnessed.

And in reality it's a tad daunting to realize that there is a far greater chance of being disabled as a young parent than dying. Or worse, ending up infirm or incapable (in the legal sense). Who will care for your children? Who will make the choice if you should live on as a 'veggie' or not? Seems hardly fair for older children (or spouse/mate) to have to make these decisions and perhaps live for years feeling guilt and second-guessing their decisions.

Not giving legal advice here - just wondering how many take the time to prepare and protect those we love so much. Apparently society in general spends more thought and time shopping for a new car than spending an hour or a day safeguarding our children when we not around to protect them.

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Slightly off-topic and I do apologise but if one is married with no children or with children or simply single with no attachments, dying without a Will does not automatically mean your 'mate' or even legal spouse is going to get your money/estate. Nope, in the United States and in Canada at least, the Court 'freezes' everything and a government Administrator takes over - and they do not work free. Eep!

Anyway, as I mentioned earlier, just truly curious as to how many of us do this kind of 'prep' work.

Excellent Topic 'Mara' and one everybody should address now rather than Later. Not to bother, or too lazy to make out a legal Will,I think is very irresponsible.
One has to be careful who one chooses as Executor of your Will,as a lot of Liabilities and potential Court battles can occur.
Watching a Documentary on TV and a Legal Eagle (lawyer) here advised against these Legal will kits available over the Internet. Saying they can be a bit dicey in a court of Law.
He advised to go to a Solicitor and have a legal Will drawn up there. Recognized more favourably in a Court of Law.
Don't know how biased this advice is.
My Solicitor told me,I must leave my Children something,even if I think they don't deserve anything.This in most cases will save a lot of Court battles.
Regardless of the cost,to save my Wife drama,and fights with my Sons from my first Marriage,I have instructed my Wife to get a Government Public Trustee to execute my Will, after my demise.

http://law.jrank.org/pages/6659/Executors-...nistrators.html

This post has been edited by DSTM: Oct 8 2007, 05:16 PM

Good topic,agreed.
I sm a USA resident so I speak from here.
Please use a lawyer. Especially if is sizeable or you do not want the customary Probate Process to apply. Probate can take from several months to a couple of years.
Most forms (book or internet) are not even close to being State specific. That's why they come with huge disclaimers (written by lawyers).
If something goes wrong, your heirs are out of luck. Then the legal fees to straighten things out may just eat up that estate.

Some but not all reasons to update it.
Remarry, add children, death of a bebficiary, move to another state or country,the value of your estate changes substantially

If you have minor children, property out of your home state,your estate is in excess of 1 million now or at death and a few others you may want to research a Living Trust

This post has been edited by boopme: Oct 8 2007, 08:58 PM