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Reply to "Strange Inheritance Situation - Need Perspective"
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[quote=Anonymous][quote=Anonymous]Your step-father spent 20+ years with your mother, right? His estate is also your mother's and I'm sure the plan to have trusts in place for your children was done in consultation between your mother and step dad. That is how THEY wanted it. You really need to meet with an attorney to be advised of what the bio kids COULD try to do so that your imagination won't run wild. Plus, since your children are in the teens and will be 21 before you know it, [b]you should ask the attorney what, if anything, the bio kids could try and do to try and access the money once the trusts are accessible by your children[/b]. Save all emails, voicemails and texts but don't acknowledge any of them. [/quote] This is a good point. I’ll add you will probably want to talk to a lawyer or financial advisor about the trusts even if the bio kids don’t make trouble. For some reason DH and I were surprised when our financial advisor told us that the UTMA accounts we’d set up for our kids years ago were entirely under their control by law when they turned 21. Fortunately the oldest, who has reached that point, is very mature, but it could be a nightmare if you had a kid who was a spendthrift, had a manipulative boyfriend/girlfriend, drug habit, etc. You’ll want to make sure your kids make smart decisions about the inheritance to the extend you are able, and the more info about what they can access when, the better. [/quote]
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