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[quote=Anonymous][quote=Anonymous]An elderly relative who is in poor health has named me as estate executor. I also, if they become mentally unfit, will have power of attorney. I have been made privy to the will, which will leave about $100k to my DC. There are no strings attached, no restrictions on when the money can be accessed. My teen is struggling with anxiety now and making very poor decisions.

It took nearly 2 years to find a therapist for this child. The therapist recently told my child — in the grand scheme of things that grades don’t matter. Unfortunately my child has used that to basically stop doing any work for school. There are no known drug issues — just a desire to drop out of anything they do not want to do. The idea of a 16yo who wants to drop out of high school having unrestricted access to $100k is a scary thought.

The relative is in Michigan and has several health issues. He does not want to make changes because he feels it is a hassle. He is in Michigan, we are in Virginia.

I’m guessing that as executor I have no authority to create a trust to put this forthcoming inheritance in. I also assume that I can do nothing as the minor’s parent. I know all bets are off if they inherit at 18y.

Advice?

My relative has been hospitalized twice this year. He may not make it to the end of the year, but his mother went back and forth with illness until she was 100, so who knows how long he has. I hope he’s around and can enjoy life a bit more, but he tells me not to plan on it (he has congestive heart and lung issues). I’d rather he spent his last penny before he dies. [/quote]

I should add that my relative is 90y.[/quote]

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