SwingsitlikeHogan
Major Champion
Outside of a Will can you protect an inheritance that a mother assigns to a daughter from a devious, controlling and conniving husband of the daughter.
Inheritance Question
- Thread starter SwingsitlikeHogan
- Start date
Crazyface
Tour Winner
Wild guess. Have it put into a Trust fund for her with others in control.
CF has it right. If she gets a lump sum through a will normally then it becomes part of the marital pot. If it is put in trust then it can be fed through to the daughter in a controlled manner. Tricky though.
SwingsitlikeHogan
Major Champion
Can any inheritance be put into trust outside of the Will?
I see what you mean though in general - in that everything from an estate is put into a trust - and whoever is responsible for that trust (who might the trustees be - the executor of the estate?) releases it to the parties identified in the Will in a controlled way as you suggest,
Wilson
Head Pro
Go and see a good Lawyer, (and take your chequebook!) - I would think a Trust is the best way, but I would think the fact they are married will have an impact, and may reduce the protection you are looking for.
The Trustee's can be anyone you nominate, and can be separate for the Executor's, as I understand it.
I am just going through something along these lines with my Dad's estate, it's pretty complicated & expensive.
The Trustee's can be anyone you nominate, and can be separate for the Executor's, as I understand it.
I am just going through something along these lines with my Dad's estate, it's pretty complicated & expensive.
You can put money into a trust at any point I believe. One of the methods rich people keep their spoilt offspring in the millionaire lifestyle whilst minimising tax. I believe the Ecclestone daughters live off trust fund money for example.
This is very much the area of professional help required if that is the avenue to go down. Real minefield territory and if it is to stand up it needs to be done in a water tight way. Best of luck, sounds like an unfortunate situation.
This is very much the area of professional help required if that is the avenue to go down. Real minefield territory and if it is to stand up it needs to be done in a water tight way. Best of luck, sounds like an unfortunate situation.
Jay1
Head Pro
By the question, I'm assuming you mean that the mother only wants to leave money/property to the daughter on her death. If that's the case then no, you can't do it unless there is a Will. If there is no Will then she will die intestate and the vast majority of the estate will pass to the husband.
The only way around this, as others have said, is to set us a trust while she is alive, and deposit funds/property to the trust. These would then be the property of the trust/the principal beneficiary (dependant on the type of trust used). The trustees can be anyone she chooses, but it is important to get good advice on the best type of trust to use (which will depend on what is looking to be achieved, the amounts involved, and the status of the beneficiaries). Be aware though that, although trusts can be good for inheritance tax, there are still tax implications to take in to account.
Why is she against making a Will? Or is it that her and the husband already have mirror or joint Wills and she is reluctant to change and risk causing friction?
I work for a firm of solicitors, in the Wills Trusts and Probate team, so have a little bit of experience with these issues.
The only way around this, as others have said, is to set us a trust while she is alive, and deposit funds/property to the trust. These would then be the property of the trust/the principal beneficiary (dependant on the type of trust used). The trustees can be anyone she chooses, but it is important to get good advice on the best type of trust to use (which will depend on what is looking to be achieved, the amounts involved, and the status of the beneficiaries). Be aware though that, although trusts can be good for inheritance tax, there are still tax implications to take in to account.
Why is she against making a Will? Or is it that her and the husband already have mirror or joint Wills and she is reluctant to change and risk causing friction?
I work for a firm of solicitors, in the Wills Trusts and Probate team, so have a little bit of experience with these issues.
SwingsitlikeHogan
Major Champion
She has a Will in place and is a widow. And yes only on death would anything go to her daughter. The estate is principally her house so no transfer of funds into a trust until house is sold. But maybe the house is put into trust - to be sold on the event of the will being executed and the funds from the sale being kept in trust. I'll look into the trust aspects as that seems certainly the way to go for her.
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The Green Fairy
Assistant Pro
I take it the problem here is the daughter's husband?
Is this a perceived problem by the mother, or one in which the daughter is in agreement?
Very difficult to ensure that any inheritance is kept away from a spouse, particularly if the daughter does not want to. I'm afraid that whatever happens after the event and money is inherited, by whatever method, it will form part of the marital pot.
Unless they set up a post nuptial agreement.
Is this a perceived problem by the mother, or one in which the daughter is in agreement?
Very difficult to ensure that any inheritance is kept away from a spouse, particularly if the daughter does not want to. I'm afraid that whatever happens after the event and money is inherited, by whatever method, it will form part of the marital pot.
Unless they set up a post nuptial agreement.
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SwingsitlikeHogan
Major Champion
It is a situation understood by the mother but one in which she is very reluctant to do anything about as she hopes the marriage issues will resolve themselves, and she doesn't believe he is such a 'bad egg' as others perceive him and that in the end they are better together etc. His controlling aspects and other things make it very unlikely that the daughter will leave him. I think I'll suggest the trust route and leave it at that. I can't do more.
chrisd
Major Champion
I would take the view that the daughter is with who she wants to be with and if I were her I'd just bequeath the estate and leave her to get on with it, after all she'll not be around to see what goes on.
ger147
Tour Winner
Sounds like your best mates with your brother in law. What does he think about you?
C
c1973
Guest
Which is what most folks would do I'd have thought. But apparently not.
SwingsitlikeHogan
Major Champion
And which is almost certainly what'll happen
