How do I set up a Will so that our only son has exclusive control of our assets and his wife and her family can not have access to it?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
How do I set up a Will so that our only son has exclusive control of our assets and his wife and her family can not have access to it?
She has already run him into bankruptcy once and is headed in that direction for a second time. She would find a way to take the estate and give it to her parents.
Asked on February 27, 2015 under Estate Planning, Wyoming
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 9 years ago | Contributor
Please go and speak with an estate planner on this as soon as you can. While inheritance is not a marital asset if he co mingles the account or gives her access your wishes would not be followed. If you set us a Trust, however, then you could keep the funds away from her and her family and leave it only to your son and then grandchildren. Choose the Trustee wisely and the terms of the trust should be very specific: education, etc. Good luck.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.