Here's a typical wedding vow:
" I, (your name), take you, (your spouse' name), to be my lawfully wedded (husband/wife), to have and to hold, from this day forward, for better, for worse, for richer, for poorer, in sickness and in health, until death do us part."
Do you see where the problem is?
You may read it again if you want, but here is the problem:
You may read it again if you want, but here is the problem:
"...until death do us part."
I was having tea with my comp. sec. one day and he was congratulating me on my recent marriage. Being the meticulous, grumpy old man that he is, he asked me about my wedding vow.
"Did you follow one of those standard wedding vows that you repeat after the pastor like every loser out there?"
"No I didn't. Of course I wrote my own. You think I'll let it be so impersonal? Come on man, I'm an insurance planner! Every Life policy I write is personal, every sale is personal."
"That's good. Because I want to tell you something wrong about the standard wedding vow."
"What's wrong with it?"
"Did you follow one of those standard wedding vows that you repeat after the pastor like every loser out there?"
"No I didn't. Of course I wrote my own. You think I'll let it be so impersonal? Come on man, I'm an insurance planner! Every Life policy I write is personal, every sale is personal."
"That's good. Because I want to tell you something wrong about the standard wedding vow."
"What's wrong with it?"
"Look it up and read it out to me. What does it say?"
I looked it up and felt a little uneasy... But before I could finish..
"Till death do us part. That's the problem right there!"
"What's wrong with that?"
I looked it up and felt a little uneasy... But before I could finish..
"Till death do us part. That's the problem right there!"
"What's wrong with that?"
"You are the 'Life Planner', you tell me!"
Then it struck me: who's death? Mine or my wife's?
"I see you found it. You're slightly sharper than your old man."
The logic behind this is that when I die, I would have no problems. All of my problems will not be my problems anymore. It is now somebody else's problems. All of my problems are now my wife's problems to deal with. Especially with money.
I made that promise during our wedding. Of course I'll have to carry it out.
So naturally, I need a Trust to carry out the instructions with the sole purpose of funding my family's living expenses, especially for my wife. She is a very frugal lady but she is also the lady that entrusted her remaining years to me, to be with me and to take care of me for my remaining days.
It is only natural that I take care of her for as long as she lives.
No compromises.
"I see you found it. You're slightly sharper than your old man."
The logic behind this is that when I die, I would have no problems. All of my problems will not be my problems anymore. It is now somebody else's problems. All of my problems are now my wife's problems to deal with. Especially with money.
I made that promise during our wedding. Of course I'll have to carry it out.
So naturally, I need a Trust to carry out the instructions with the sole purpose of funding my family's living expenses, especially for my wife. She is a very frugal lady but she is also the lady that entrusted her remaining years to me, to be with me and to take care of me for my remaining days.
It is only natural that I take care of her for as long as she lives.
No compromises.
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