Court Case

Xbigman

I didn't have these legal issues but I did have a situation where I had the choice between giving my daughter a lump sum or regular payments. I opted for the regular payments and I now believe I made a big mistake. The money has been frittered away in dribs and drabs with absolutely nothing to show for it. I wish I had done it as a lump sum. At least then she might have had a decent holiday somewhere exotic and built up some memories, or maybe bought a car and been spurred on to learn to drive. Anything but just fritter it away...

My advice in this is to ignore the legal side and hand them the money. Then sit down with them and explain that a lump sum should not be wasted and try to get them to invest it themselves. You might well find this way works better than forcing them to recieve the money in a way they won't appreciate.
Regards




X

erewyn

Hi,
just wanted to say I feel for you, they are teenagers and at that age they probably said "No" just to spite you.
My brother did something similar a few years back, after all the money has been spent, they will realise you earn money if you want to buy things, its very sad that the money will not be spent wisely, but you can only do your part as a close relative, to be there to give the advice, and the support when they have wasted it all.
Regards,
S