I Have an Addicted Child; Should I Disinherit Him?
Unfortunately, many Americans have difficulty with drug, alcohol, and gambling addictions However, if you have an addicted kid, you do not have to disinherit him. In many cases, disinheritance triggers great emotional injury as inheritances represent the love of a moms and dad for a kid (whether we wish to confess or not.).
Disinheritance might cause psychological upset which might make the addiction even worse and trigger lifelong discord in between your kids and even your grandchildren and great-grandchildren. Even though we are motivating you not to disinherit an addicted child; we DO NOT encourage that you offer an outright inheritance.
An outright inheritance, usually, isn’t in anyone’s finest interest. For an addicted recipient, a straight-out inheritance may prove lethal as it has actually been discovered to fuel dependencies. Instead, provide an inheritance in a trust with an independent expert trustee such as a business fiduciary or a CPA.
Don’t name your surviving spouse or another kid as trustee of the trustee. Your addicted beneficiary will likely hassle the trustee and it’s not good for the wellness of a relative or for the family relationships.
The independent trustee can pay your kid’s expenditures directly to a rehab facility, medical professional, property owner, and the like. In addition, if your recipient gains control over the dependency, some funds can be distributed to him if he passes a drug or alcohol test, as appropriate. You choose the terms with the recommendations of your legal counsel.
An added benefit to supplying a life time trust for your addicted recipient is that it can’t be taken by your beneficiaries’ creditors or separating partner. It will constantly be there, unless it gets spent down for needs, and can’t be taken from your beneficiary.
Consult with a certified estate planning attorney to see how your trust arrangements should be drafted to meet the needs of your specific recipient. There are alternatives to disinheriting an addicted kid.