wills

smudger1946

Morning All,
Advice on what can be done to be able to leave part of inheritance to a wayward, alcoholic fifty year old offspring, to stop them blowing the lot, that's of course without leaving them nothing at all.

I was left this money by my late parents, I wouldn't like to think if I left it to my offspring it would be wasted on booze!

I hope the above makes sense, I'm sure you get the gist of my predicament.

Smudge

mad_spaniel

If they're alcoholic and not willing to seek help, they will blow the lot, if all is left. I know from experience. My Grandad skipped a generation and left a small bequest to his alcoholic daughter(my mum) but the majority of the estate to grandchildren. He safeguarded her right to remain in his home" for as long as she wished" so she has a lifetime interest in the property, whilst I am responsible for the maintenance of the home whilst she's there but can ultimately do whatever I want with it once she has passed away or gone into nursing care.

scotsbob

smudger1946 wrote: »

Morning All,
Advice on what can be done to be able to leave part of inheritance to a wayward, alcoholic fifty year old offspring, to stop them blowing the lot, that's of course without leaving them nothing at all.

I was left this money by my late parents, I wouldn't like to think if I left it to my offspring it would be wasted on booze!

I hope the above makes sense, I'm sure you get the gist of my predicament.

Smudge

They may not spend it on "booze."


They may gamble it, or spend it in lap dancing clubs, or invest in shares of a company that liqidates.


Money given away is no longer yours.

Gers

One of the Rolling Stones (I think) was asked how he spent his money...

'I spent a lot on sex, drugs and rock and roll - the rest I wasted' was the reply.

It's true, you cannot dictate what the money is spent on once you are dead. I'm not any kind of legal person but I would wonder how a condition such as that could be monitored?

You could always spend it on yourself, especially if you suspect it could all be p***** up against a wall. My father did without a lot of things in his lifetime to leave me a relatively small amount of money, I wish he had done what he always wanted to and travel to India using it. The fact that he did without before dying gave me no pleasure in receiving the money.

I did try to persuade him to spend it but he was of the generation that didn't splash out, probably because there wasn't much to splash out on then.

[Deleted User]

Spend it yourself smudge, make your house very comfortable for yourself for the rest of your days, do any alterations to make life easier. If you need a holiday then have a good one, if you need an operation and are on a list then go private. Your parents would want you to do this, they would not want their hard earned money to go on alcohol or gambling or women. I think you know that, deep down