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Writing a Will involving a Difficult Child
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<blockquote data-quote="hopeandjoy66" data-source="post: 660944" data-attributes="member: 18181"><p>We have recently re wrote our wills. We have been only married for 7 years and we both brought two adult children each into the marriage. After 6 years it was decided that all the children would be treated equally even though husband came into the marriage with a substantially more assets. If my husband goes first I will be left with everything. He felt that should be the first priority as I am 15 years younger and would need 15 years more or more of income to live on. The same for my husband if I should die first he will be left with it all. We decided not to give our children their inheritance until the last spouse has died. Then we will have our bank trustee from their estate planning division to be the distributor of the will. However, with having a Difficult Child we have left his money in something called a Henson Trust. Money is left to Difficult Child in this trust and it is doled out as need and at the discretion of the trust. We know when Difficult Child is manic or using drugs it would be blown immediately. This fund will top up his disability income pay or pay for a car if needed ect.. The point was we did not want family to have that responsibility as that would be a huge burden for the distributor. Difficult Child would hound that person relentlessly about receiving more money. It could turn very ugly. So the trust fund has somebody else to do that horrible job. What we wanted for Difficult Child was that he would live more comfortably as he aged, not a free for all party for all druggies in town. Actually, we are hoping that we will have spent most of our money in living a full, fun and happy life for us.<img src="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" class="smilie smilie--sprite smilie--sprite2" alt=";)" title="Wink ;)" loading="lazy" data-shortname=";)" /></p></blockquote><p></p>
[QUOTE="hopeandjoy66, post: 660944, member: 18181"] We have recently re wrote our wills. We have been only married for 7 years and we both brought two adult children each into the marriage. After 6 years it was decided that all the children would be treated equally even though husband came into the marriage with a substantially more assets. If my husband goes first I will be left with everything. He felt that should be the first priority as I am 15 years younger and would need 15 years more or more of income to live on. The same for my husband if I should die first he will be left with it all. We decided not to give our children their inheritance until the last spouse has died. Then we will have our bank trustee from their estate planning division to be the distributor of the will. However, with having a Difficult Child we have left his money in something called a Henson Trust. Money is left to Difficult Child in this trust and it is doled out as need and at the discretion of the trust. We know when Difficult Child is manic or using drugs it would be blown immediately. This fund will top up his disability income pay or pay for a car if needed ect.. The point was we did not want family to have that responsibility as that would be a huge burden for the distributor. Difficult Child would hound that person relentlessly about receiving more money. It could turn very ugly. So the trust fund has somebody else to do that horrible job. What we wanted for Difficult Child was that he would live more comfortably as he aged, not a free for all party for all druggies in town. Actually, we are hoping that we will have spent most of our money in living a full, fun and happy life for us.;) [/QUOTE]
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