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From: avolio@decuac.UUCP (Frederick M. Avolio)
Newsgroups: net.kids
Subject: Re: wills
Message-ID: <716@decuac.UUCP>
Date: Thu, 5-Dec-85 13:20:35 EST
Article-I.D.: decuac.716
Posted: Thu Dec  5 13:20:35 1985
Date-Received: Fri, 6-Dec-85 07:19:02 EST
References: <772@drutx.UUCP>
Organization: ULTRIX Applications Center, MD
Lines: 45

In article <772@drutx.UUCP>, bjb@drutx.UUCP (BarnesBJ) writes:
> Our pediatrician asked us to consider preparing a will and
> establishing a trust fund after the birth of our first child. 
> 
> After considering it, I was very grateful he had mentioned
> it. I can think of many relatives who would bring me out of my 
> grave if I knew they were going to raise my children.  If by
> 
> Also, setting up a trust fund insures that your child will have
> funds to take care of him, but that the money won't be spent by 
> your 18-year old to tour the world, donate the money to a
> religious cult, or buy a Rolls Royce.  You can make any
> stipulations to the trust you want to. 

Yes!  Yes!  And now-a-days it is so easy for most people to set up a
will. (Some drug stores around here have forms to fill in!) You will
have to decide about guardianship for children, name an executor, and
name a trustee (not necessarily the same people).  In other words,
someone to care for the kids, someone to handle the estate after you
are gone, to arrange things, etc., and someone to have control over
the money until the children are "of age." You can, in your will,
state when "of age" is and this can include something to insure that
no money, etc is split up until after the youngest child is out of
college, med school, etc.  You want the kids to have the same chance
for things like higher education that they would've had you lived.
(Sorry... hope no one is reading this before bed-time!)

And think hard about guardianship.  Sure you love your parents.  But
think about their age and the ages of your kids.  If you parents are
in their 60s or 70s, perhaps someone younger (needn't be a couple, by
the way) might be a better choice.

Aside from the children, even if they are older, if you die without a
will, the courts may decide what gets done with your estate.  You have
anything you want given to certain people?  The courts will sell
everything (perhaps) and split up cash.

Don't sue me if you die and things don't go as you had planned.  I am
not a lawyer.  And keep that will up to date!  Oh, yeah... have a nice
day



-- 
Fred @ DEC Ultrix Applications Center    {decvax,seismo,cbosgd}!decuac!avolio