Reasons Parents Might Disinherit Children | Estate Planning in Cary
Welcome back. During our last blog post, we talked about disinheriting estranged adult children. It’s hard to consider what one might go through making the decision to disinherit their child. It’s a difficult, emotional situation that many do not take lightly.
While you might be considering disinheriting your estranged child, there are other reasons you might contemplate it as well.
There are other reasons why parents might decide to disinherit their children. An estranged adult child isn’t the only cause. Below, you’ll find several other alternatives to this situation.
Drug Addict Child – If your son or daughter has had a long, drawn out addiction to drugs and can’t seem to fight it enough to fully recover, you may be considering disinheriting them. You might worry they’ll use all their inheritance on more drugs. If you choose to disinherit them, you might want to consider leaving their share of your estate to your grandchildren. If you appoint a trustee that you can rely on, the inheritance will be used to meet the child’s needs without the child having any control over it. In addition, you can also set up a trust that will meet your addict child’s needs. They won’t be able to use the inheritance for anything but living expenses; food, rent, mortgage and clothing.
Special Needs Children – Many special needs children receive government benefits that might interfere with an inheritance. In order to help the child continue with their benefits, parents might decide to disinherit the special needs child. In this case, there are ways to create a special needs trust so that the child isn’t completely omitted from the will or estate plan. When taking this route, a trustee should also be appointed. The trust will help provide supplemental support for your special needs child.
Estranged Adult Child – While we did talk in detail about this in our last article, we wanted to do a quick recap here. The definition of estranged is someone who is unsympathetic, indifferent or unaffectionate to a loved one. It’s turning away from someone that once meant a great deal to you. We hear about estranged wives or husbands all the time. It’s not as common to hear about an estranged son or daughter. When this happens to with our children, it’s usually when something happens out of anger.
Disinheriting your child, for any reason, might be a difficult thing that requires much deliberation. Our lawyer can help you with estate planning in Cary, as well. Contact us for more information.
An attorney who knows about estate planning in Cary NC will be able to review your situation and provide the best solutions that will meet your needs and will also be legally sound. He or she may also suggest other things that you may not have considered before, such as creating a durable power of attorney or a healthcare directive to give guidance in situations where you may not be able to make decisions on your own anymore. There are many facets to an estate plan. Klish and Eldreth can talk with you about your situation and help guide you in creating a plan that meets your needs. Contact us, today.
If you’re interested in learning more about disinheritance, be sure to visit back with other blogs, below:
Disinheriting an Adult Child
Referring to a Disinherited Child in Your Will
Reasons Parents Might Disinherit Children
Problems that Can Come With Disinheritance