Trusts and inheritance and protection for grandchldrfen
Hello Terry,
We are raising our grandchildren and plan to set up a revocable trust for their inheritance. We have adopted our grandchildren ages 7 and 11, we are aged 63 and 70. Sadly we need to protect them from financial abuse by bio parents that have drug and mental health issues. Unfortunately we do not have a suitable relative that act as a trustee. Given the circumstances should we hire an attorney or bank to manage the trust if we should die or become unable to manage it ourselves? To further protect the grandchildren we hope to distribute their inheritance in increments. This is an embarrassing and painful situation for us, any advice you can give will be greatly appreciated. Thank you!
Terry Says
But you are so wise to think and plan ahead. Hopefully you will have a long life that will see them into adulthood, when they can wisely manage their own money.
In the meantime, please to www.ProtectedTomorrows.com, where Mary Anne Ehlert has set up all the advice and advisors to solve this problem for you and other parents who have children who are disabled or otherwise need protection/
