|Oh, that dreaded baby Daddy…read on.
Currently, our estate is to be divided equally among our four children. Our son is the executor of the estate. If one of them predeceases us, their share will pass to their children, our grandchildren. One of our daughters has a child from a man she was never married to but he contributes to the child’s care. They have no formal custody agreement. If our daughter predeceases us her child should inherit her share. Our concern is we do not want the child’s father to have access to this child’s share of her mother’s inheritance. How do we protect this grandchild?
Your trust most likely says that if a child predeceases, their share passes to a trust for their children until a certain age, usually 25 or 30, naming a trustee to manage the money until such time. If this is the case, you have nothing to worry about. If it doesn’t say this…it should!
On the other hand, if your daughter survives you and then dies, her estate plan, not yours, will dictate what happens to the money. You should talk with your daughter and make sure she has an estate plan in place with similar protections for her child.
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