Reply to This stepmonster gem from Carolyn Hax

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]The stepmoms' idea was not unreasonable. She handled suggesting it poorly. Should have left suggesting it to the dad.[/quote]

Hi stepmonster!

Mom's money belongs to her children. It does not belong to stepmonster so she can increase her lifestyle and comfort. It dies not belong to stepmonster's future hypothetical children, or her current children. It belongs to mom's children only.

If stepmonster wants a bigger house in a nicer neighborhood, she needs to get a higher paying job.[/quote]

You miss the point. Mom's money still belongs to her children if it is invested in a house instead of spent on a private school. Indeed, in that way the children get to [i]keep their money[/i] rather than throwing it away.[/quote]

Pretty sure SM isn't intending to put her step kids on the title of her new, larger home and give them a percent of the equity that grows in the house over time and interest on the "loan".  That is what you would have to do if you intended on keeping the inheritance as the kids' money but invest it in the house instead.

OTOH, if the insurance policy named the kids as beneficiaries, then the insurance money has to be put into accounts in the kids names.  If one then withdraws from a child's account to use that money for the down payment on a house in an adult's name, then one has stolen.  An 18 y.o. presented with a bank account with less than the ammoumt of the insurance policy and withdrawals made by adults for goods not in her name could reasonably hire an attorney (who could likely be found on commission) to successfully sue and get the money back, forcing the family to refinance or sell possibly in order to pay the judgement.

Dad likely understands legalities SM does not.[/quote]

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