Question about leaving DVC in our Will

[Disney1fan2002]

We own 3 contracts. Two OKW.... 270 points, and a small 30 point contract. And we have 170 points at BCV. I have 3 small kids. We (my DH and I) have been procrastinating doing our will. We cannot put it off much longer.

How do you put DVC in your will? How can the points be split up amoung the kids? Evenly?

I was thinking, if God-forbid something happened to us while the kids were still young, than I would just let my sister take over the DVC until the kids all reached age 21. Then they could get an equal share of points for themselves. How do we do this? Any advice? Thanks in advance.

 

[Granny]

You can include your contracts in your will just like any other property.

However, you cannot break the contracts up. So if I'm reading you correctly, you have 270 OKW, 30 OKW and 170 BCV. You would have to divvy them up in full contract amounts and could not give even splits to each child.

The idea of letting your sister act as trustee over the points might be the best one until the children are older. After that point, maybe you could specify to sell the contracts with the proceeds going to all three children equally. If one of them wanted to "buy" a contract, they would have to give 2/3 of the value to the other siblings...make sense?

 

[mbhoxsie]

This is exactly what I did..

Our trustee makes all decisions when it comes to using DVC in our will...

Once the kids have reached maturity, she can either sell it and divide the earnings, or one of the kids could buy the rest out.