Baby Boomers

calimary

(84,537 posts)

2. Ask about a "skip-a-generation" trust.

Sun Jul 1, 2018, 09:40 AM

Jul 2018

That’s how friends of mine got screwed by their wealthy parents. At least the inheritance stayed in the family - and went to the grandchildren. One friend had a dad who was married to the mom but kept a girlfriend in the side. My friend was always fearful that the girlfriend would wind up with the goods. Fortunately that’s not how it worked out. The inheritance got mostly locked up in skip-a-generation trusts. The sons and daughters got screwed, but their kids didn’t.

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Changing our will [View all] SHRED Jul 2018 OP

Few years ago. Cut out my entire family except my daughter. Floyd R. Turbo Jul 2018 #1

Ask about a "skip-a-generation" trust. calimary Jul 2018 #2

I'm seriously considering this...thanks SHRED Jul 2018 #6

Is it to be a high valued estate? Several thoughts. 3Hotdogs Jul 2018 #3

We have a trust SHRED Jul 2018 #5

We were just talking about this. blueinredohio Jul 2018 #4

Donate the estate to the ACLU...we're gonna need them a lot more soon. (n/t) Moostache Jul 2018 #7

I know it is tempting, but you might consider the consequences. Frustratedlady Jul 2018 #8

These aren't my spouse's children SHRED Jul 2018 #10

Didn't mean to be confusing. I was referring to grandchildren and great-grandchildren. Frustratedlady Jul 2018 #14

I have heard folks say to leave $100 each rather than leave them out. keithbvadu2 Jul 2018 #9

yup happynewyear Jul 2018 #19

Sorry but this is real weird Capperdan Jul 2018 #11

You can't communicate politically with someone... SHRED Jul 2018 #12

I took my oldest daughter out, she was also my executor. She married an evangelical 5 years ago. onecaliberal Jul 2018 #13

What makes you think his kids wouldn't spend all the money on nazi propaganda when they lunasun Jul 2018 #16

A friend at work got pissed at his two sons and safeinOhio Jul 2018 #15

That happened to my uncle! happynewyear Jul 2018 #17

I'm worried about this issue too. Croney Jul 2018 #18

GOD'S WILL happynewyear Jul 2018 #20

There's no law that you have to leave your estate to your kids or sinkingfeeling Jul 2018 #21

Had an estate tax professor who said he strongly advised against punishing family in death. Hoyt Jul 2018 #22

For everybody on this thread, just one thing to keep in mind. calimary Jul 2018 #23

Yes, it is your money and you can leave it to whomever you please. PoindexterOglethorpe Jul 2018 #24

Spend it all Dr Kak Nov 2018 #25

I knew a Dr Kak on the old Abuzz site - any chance? marble falls Nov 2018 #33

What if his wife objects to wine, women and song? marble falls Nov 2018 #35

I always figured I could go back to my lawyer and have him re-write my will. Maybe I'm wrong. dameatball Nov 2018 #26

We did it but we don't have kids just nieces and nephews. redstatebluegirl Nov 2018 #27

I was going to say. Start a trust. But I see it's already been mentioned. littlemissmartypants Nov 2018 #28

I have two siblings. MontanaMama Nov 2018 #29

My father changed his Will 10 times in 10 years. no_hypocrisy Nov 2018 #30

Leave money to your grandchildren dawg day Nov 2018 #31

You could also leave a big chunk to a good liberal cause (maybe in the names of the in-laws ;) dawg day Nov 2018 #32

To everyone reading this, PoindexterOglethorpe Nov 2018 #34

What if? CountAllVotes Nov 2018 #36

Then you absolutely need a will, otherwise PoindexterOglethorpe Nov 2018 #37

I have CountAllVotes Nov 2018 #38

You may need to do a bit more research PoindexterOglethorpe Nov 2018 #39

Suze Orman has forms online at a nominal cost. llmart Nov 2018 #40

On line forms can be problematical. PoindexterOglethorpe Nov 2018 #41