Son in Law

10JP

I guess this is a problem that many people face but I wish to leave my daughter most of my estate when I die but her husband has a track record for just completely wasting money and I would hate to think that all that I have worked for would be squandered by him, what options do I have to stop this happening or Is it even possible that after my death I can defer my daughters inheritance until she reaches 60 years of age to give her some sort of pension or money in later life, any suggestions would be most helpful.

Margot123

How long would your daughter be waiting, and what makes you think her hubby will be a reformed character in the future?
TBH your daughter's inheritance will be hers to do with whatever she likes, including giving it away.

need_an_answer

Locking an inheritance away until someone retires is almost like potentially not giving them anything.
I have no idea of the ages involved yours,your daughters or indeed any of her dependant children who you may also want to consider.

What provision would you make if your daughter never reached the age you specify or is it a case that you are hoping her spouse may be out of the picture by then?

My view I believe is give the money as and when the time comes,I am sure your daughter is able to decide then what she wishes to do with anything you leave her.

10JP

Thanks for your replies, My daughter is 40 at the moment and has an 8 year old daughter, the provision would be if she never made the age specified it would all go to my grand daughter who will be provided for as well, of course there would be a smaller sum made available to my daughter upon my death but my thoughts were smaller amounts released annually or the money invested for her to receive income from it until she reaches a specified age, my son in law has made it quite clear he cannot wait to get his hands on my assets to spend as he wishes!

jackyann

Although, mercifully, this doesn't apply to me, I do have some relatives who faced a similar dilemma.
Think you need to think very carefully about this, and getting advice on forums like this can be helpful. These are things to consider:
Does she know how you feel? Is the relationship likely to last?
Could you bypass her and leave to grandchildren?
How much are you leaving?
I have known, for example, a house left in trust, so that the beneficiary always had a home. But do get very specialist advice, as there are many pitfalls!
I personally think that leaving the money as a pension is quite sensible. You could write in that it can be accessed in case of chronic or terminal illness, and of course make provision for an early death. In the situation you describe, your daughter is unlikely to be able to save for a pension, so it could make a huge difference to her. Again, it is very specialist, and I imagine only worth doing if you are leaving a good sum. I have heard it discussed, but don't know anyone who has done it.

Cross posted!

10JP

Its a very difficult situation and I have delicately spoken to my daughter about my concerns but at the moment it looks like my grand daughter will do ok, it would involve my house and all my assets

PasturesNew

You have to let it go .... let her inherit and then it's her choice/tough luck if things don't work out as you'd have liked them to.

Even if this were possible/reasonable and if it occurred the way you'd "planned" never underestimate the ability of life events and changing laws to be able to wreck the outcome. e.g. what if she "needed" the money desperately without strings - or what if the law changed and he could have half anyway, no matter what.

Control what you can control up to today ....and let the rest go.

10JP

Thank you
I guess when your gone it doesn't matter as you have no control over it anyway, maybe I just need to spend spend spend and enjoy it myself whilst I still can!

lincroft1710

10JP wrote: »

I guess when your gone it doesn't matter as you have no control over it anyway, maybe I just need to spend spend spend and enjoy it myself whilst I still can!

The most sensible thing you have posted. Enjoy the money while you are able to, leave the residue to your daughter without conditions or encumbrances, what happens to it won't be your concern.

securityguy

10JP wrote: »

Is it even possible that after my death I can defer my daughters inheritance until she reaches 60 years of age to give her some sort of pension or money in later life, any suggestions would be most helpful.

Leaving aside all the reasons why this is toxic helicopter parenting, no, you can't: Saunders v Vautier means that trusts are payable on demand by competent adults.

10JP

Toxic helicopter parenting, well there's a phrase I've never heard before, so a plain old concern about something I'm sure many people are worried about actually has a name!!