Reply to Children Inheriting Large Sums of Money

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Are you at least cordial with this other distant relative?  Is this other relative a reasonably decent person?  If so, perhaps you can convince this relative that it would be best if this money was placed in a 529 for the benefit of your children.

You can then take the money you were going to spend on their college and gift it to them at an appropriate time (perhaps help with the downpayment on their house) or, alternatively, set up 529s for their children with it.[/quote]

No, we are not cordial. I have tried to suggest 529s and various other things, as has an attorney, but she is convinced that it is all just a scheme by me to “steal” the money. It’s just impossible, and I get so depressed and hurt by it when I think about it. [/quote]

I misunderstood. You meant cordial with the relative she has as a custodian. It’s not that we are cordial or not. It’s that I haven’t heard from him in 25 years. I don’t really know him at all. He’s got three kids of his own so I’d hope he would understand, but I just don’t know.[/quote]

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