My Ex-wife and her new husband have full custody of my son and I wanted to know if there was anyway I could leave an inheritance for my son that those two cannot touch. I know minors can’t inherit (my son is 5) and I also know that my Ex is a greedy person and that I won’t be around to stop her from taking what she can if it’s possible. So, is there any type of trust or something that will prevent them from touching any of my son's inheritance that I want to leave him? Thanks!
Yes , its best to use a trust in this situation and have the inheritance pass into a sub trust for your child when you pass away. Provisions can me made to address your concerns such as who will be the trustee, when the corpus (main assets) can be reached (at what age such as age 25 ) or if education will be paid for until the child graduates college etc. otherwise without such protection, the father may get in charge of the money on the pretext he will act in the childs bests interest.
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Absolutely. You can leave money or property to him in a trust. You can name the successor trustee and instruct when and how the trust estate is to be distributed. You can do that now in the form of a revocable living trust or you can do it in your Will in the form of a testamentary trust. Hopefully, you have a few trustworthy persons who you could name as successor trustees.
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The other attorneys are 100% correct. As Mr Daymude and Mr. Harrington mentioned, trusts are powerful tools for controlling property. There are a lot of options. One intricate revocable trust might do it, adding a testamentary trust provision into a Will is even better.
You have, quite literally, millions of options on just how you want the property handled, by whom, under what conditions, and has the added benefit, if written to be iron clad; of preventing other people from accessing the funds.
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As the other attorneys have stated, a trust is the best means of handling the situation. Your trust could include a subtrust specifically for your son. You can include provisions to ensure that all his needs are met including health and education. Your successor trustee or trustees should be person or persons that you trust to handle this matter as you have directed. You can include provisions that preclude any funds given directly to your former wife and/or her husband. Since your successor trustee may need to stand firm against your former wife and her husband, you might also want to consider using a private fiduciary to avoid any other family problems.
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Disclaimer: The above answer does not create an attorney/client relationship. My responses are intended to provide general information about the question posted. I am licensed to practice in the state of California. The information provided on this site should not be used as a substitute for conferring with or hiring a competent legal advice from a licensed attorney that practices in the subject area in your state.
A Trust is absolutely the perfect tool to accomplish what you are trying to do. You need to speak with a good estate planning attorney to make sure that this is set up properly and properly funded. This is a very caring and loving way to take care of your son, (and to protect his inheritance).
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