Unless you expect to die yourself in the near future, you may be needlessly worrying. In order for the bankruptcy court to take away anything left to him in your will, you would have to die within 180 days of your son filing his bankruptcy. Meeting with an experienced estate planning attorney is always a good idea. Worrying for no real reason just shortens your enjoyment of life. Hope this perspective helps!
You need to meet with an estate planning attorney to set up so your assets are held in a trust for your son after your death containing appropriate spend thrift provisions.
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There are several ways you can do this. Spend thrift trust is one way. You need to talk to an attorney who can advise you the right way to go in your particular situation.
I agree with my colleagues. A trust seems to be the best option for you, but you need to be careful. The trust should be set up by an attorney to make sure it is done properly. If your son is given too much control, any creditors he has may also be able to reach the trust assets. You also should discuss with your attorney the effect of a bankruptcy, if it occurs. The bankruptcy proceeding may actually wipe out your son's debts.
There appear to be other issues involved, however, (as there frequently are). You need to discuss these with the attorney to determine how best to proceed.
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Put it into a trust and have him file the bankruptcy before he receives a dime.
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