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[quote=Anonymous][quote=Anonymous]My father figured out a way to support his youngest daughter, my sister -- in a fair way.

She will receive 1/4 of his estate, probably about 1M$, so an equal division.  A monthly allowance will be determined and rec'd by her from her inheritance.  My brother, the eldest, will be the executor of the estate.  If she needs more $ for whatever reason, the 3 other siblings of which I am one must all agree for her to get the extra $.

This is being done as she is a train wreck with no money sense.  None of us want to support her in her old age, so we feel this is a good decision.

Seems odd that parents would leave the child who is the WORST at managing money and their life the most.

My sister is aware of the plan and is just glad she will not have to manage the money. [/quote]

Good luck with this.  BTDT.  Train wrecks happen because they don't know how to navigate life, they fall off the rails and usually can't be righted.  At least not without massive heaving lifting.

My father did the same for my brother who is also a trainwreck and I had to manage the money.  In the long run it was a nightmare for me.  Every time he got in a fix or had some crazy idea, he came screaming around that he wanted "his" money.   Under the will/trusts conditions I couldn't do it.  Eventually he had access to it by the time he was middle aged.  He blew through it all within months and had nothing (and I mean NOTHING) to show for it.

Now he's in his 60's and I am still supporting him to a small extent, though I swore I wouldn't do it.   The small amount I provide each month allows him to supplement his social security and keep renting his own place because the only other option in his town is a homeless shelter.  His county does not permit destitute seniors with housing vouchers - they only give them to people with families.  He gets food stamps, thankfully, otherwise he'd starve.  He has Medicaid/Medicare due to his poverty level.  If he needs long-term care at some point, he's already eligible for it since he has no assets.

All I'm saying is that despite your dad's best intentions, it doesn't always work out the way they plan it.   And at some point you may have to decide to support her, or know that she will be living on the streets or in her car.

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