Divorced parents, trust fund
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Anonymous
| A couple is divorced. A grandparent is planning to make their adult child and grandchildren beneficiaries of a substantial trust. Would you set it up to also benefit the ex-spouse? Co-parenting is amicable but obviously, they’re divorced. It seems unworkable for the children to have way more assets than one parent, right? How could a trustee referee that situation? |
Anonymous
| Stop being greedy. |
Anonymous
| No. Set up a trust for the parent and separate trusts for the children with the parent as the trustee. The children don't get access to most of their money until middle adulthood (late 20s-mid 30s), so they would no longer be financially tied to the other parent and the difference in financial situations is not really relevant. It would be similar to a child who went into a high paid profession and made a lot of money as an adult. You don't have to worry about being richer than your parent when you are an adult. |
Anonymous
Huh? No. The ex-spouse has zero part in any of that, period. They are divorced. What the ex-spouse's children inherit from their other parent's side of the family is none of the ex-spouse's business. |
Anonymous
| No my parents did not put my spouse in the trust when we were married much less would they my ex-spouse. |
Anonymous
| WHAT???? I am so confused. Most people do not leave money to their children-in-law MUCH LESS their ex-children in law??? |
Anonymous
| No one would include an ex-spouse in this |
Anonymous
Not really unworkable if the kids are older than 18. And if they are younger they wouldn't have access to it anyway, trustee or no. |
Anonymous
|
This has the sound of a crazy ex spouse hoping for some $$$$ to come their way.
There is no situation on earth where it makes sense to leave money to an ex son/daughter in law I’m getting divorced and my parents are gleefully ensuring that STBX is cut out of everything. They actually made me send them a copy of my new will excluding STBX so i can stay in their will. Otherwise they were going to bypass me and just have the will direct everything thing to my kids to ensure there’s no way for ex to inherit. In that case, my kids would end up being my significantly wealthier than me and that’s just fine. |
Anonymous
| No, stop being greedy. |
Anonymous
| My parents used to gift both exH and I. When we divorced their entire gifting strategy and trust strategy changed. My ex was abusive he could have previously killed me for my portion and enjoyed spending it all and more on new partners.. He tried and failed. Now it’s a descendants trust and gifts are only made to family not spouses. My children are already much wealthier than my exH. |
Anonymous
|
If your ex has a trust and starts receiving substantial income from it (ie his parents are dead and he is the current income beneficiary) you can ask the court to re-evaluate child support possibly. Otherwise of course you have no right or interest in your ex's trust.
I divorced a future trust fund baby. I never cared about his money but I will look forward to the day I no longer have to pay him child support. |
Anonymous
| Definitely not. My parents trust has money going to their kids, and then straight to grandkids if their kids are to pass away. A spouse never gets the money in any situation. |
Anonymous
| Often the case with trust funds that it skips over even the married partner. And a parent winds up with kids much wealthier than they are. Hopefully the kids trusts will be structured to allow payment of educational expenses out of the trust |
Anonymous
My parents created a trust for my son and my spouse is not a trustee. No access to principal until mid 30s. |