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? 4 Grandpa- who gets your money when u die?

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? 4 Grandpa- who gets your money when u die?

Old 05-14-2013, 05:10 PM
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Default ? 4 Grandpa- who gets your money when u die?

assume you have adult kids, and grandkids.
If one of your kids has passed on, do you leave the money per your will to:

1. in trust direct for your grandkids

2. leave some (or all) for the daughter in law or son in law

?

Last edited by edwardh1; 05-14-2013 at 05:46 PM.
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Old 05-14-2013, 05:17 PM
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Old 05-14-2013, 05:21 PM
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It would depend on the age of the grand kids at the time of your death. I would make it a trust if under 21. @ 21 I would give 'x', @ 24 I would give "x+" and so on.

I wouldn't give it to the spouse.
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Old 05-14-2013, 05:47 PM
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Originally Posted by OldPete View Post
It would depend on the age of the grand kids at the time of your death. I would make it a trust if under 21. @ 21 I would give 'x', @ 24 I would give "x+" and so on.

I wouldn't give it to the spouse.


so son in law or daughter in law (grandkids parent)would get 0??
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Old 05-14-2013, 06:00 PM
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Originally Posted by edwardh1 View Post
so son in law or daughter in law (grandkids parent)would get 0??
imo--exactly.
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Old 05-14-2013, 06:10 PM
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There is no correct answer, only alternatives. If the son/daughter in law had a good relationship with your child and you, and was/is a good parent to your grandchildren, why not include them in some way?

It could be left in trust with contingencies such as it going to the grandkids if the in law remarries, dies, etc. This would also protect it from any potential creditors the in law may have. You could also designate a specific amount to provide an annuity to the in law.

You are the only one who can decide what the right thing to do is. I just went through this with a client, and they included the daughter in law, but also protected the grandchildren.
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Old 05-14-2013, 06:21 PM
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What he said.
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Old 05-14-2013, 07:19 PM
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Originally Posted by edwardh1 View Post
so son in law or daughter in law (grandkids parent)would get 0??
Correct.

Look, there are exceptions to every rule. But based on my own life experiences, I wouldn't leave it to the son/daughter in-law.

It really depends on the circumstances. I bought my first house at 23, ran a full-time business and went to school all at the same time. Other 23 year old guys were out smoking dope and getting their girlfriend's pregnant.

It's about the individual.
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Old 05-14-2013, 07:35 PM
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If I predeceased my father, my share would definately go to my wife even though we have no kids. If my brother predeceased my father, he would leave it for the grand kids in trust and not a penny for my SIL. My dad loves my wife as much as me [probably more]; my SIL, notsomuch.... Like Pete said, it's all about the individual.
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Old 05-14-2013, 07:51 PM
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Originally Posted by edwardh1 View Post
assume you have adult kids, and grandkids.
If one of your kids has passed on, do you leave the money per your will to:

1. in trust direct for your grandkids

2. leave some (or all) for the daughter in law or son in law

?
The fact of the question begs the question. IMO, leaving money to somebody has to do with ...well, worthiness. If the DIL has been a good kid, then she's just as worthy as my son. If not so much, but the grandkids are cool, then a trust arrangement.

If the whole fam damily isn't worth helping, then what charity would you want to benefit? See post #2 as a definite potential. I'll PM my address to your probate judge.............
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Old 05-14-2013, 07:56 PM
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Good question.....
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Old 05-15-2013, 01:28 AM
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I want that last check I write to bounce...
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Old 05-15-2013, 01:44 AM
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Originally Posted by stringle View Post
I want that last check I write to bounce...
Yep.... I agree

Of course I don't have any kids, but I do have people that are close to me so there are some in my will. But my goal is, that the only money left when I'm through here is what they sell my inventory and toys for, that will get to the 'kids' after momma dies if there is any left (she has 4 kids)

Seriously. Important to have a will, and keep it up to date, just because.....
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Old 05-15-2013, 06:42 AM
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Money follows the blood, son in law/daughter in law don't get nothing. If the grandchildren are underage the inlaw may be appointed tutor, over the child's funds.

And this does not consider if wife is surviving. In my will I leave everything to my surviving wife. My wife's will leaves everything to me. In the event of both of our deaths, it goes to our direct descendants, our children. Or in the event of their deaths, their children. If my son or daughter dies childless, preceeding our death, then our estate is decided between the surviving children when we die.

Lot of legal terms like "usafruck" (spl) and such.
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Old 05-15-2013, 07:11 AM
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I say leave it to the grandkids with allowances for school at 18 and the rest at 25. An inlaw should get life insurance money unless your son or daughter didn't want them to get anything when they died.
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Old 05-15-2013, 07:56 AM
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if your current will has the estate split evenly betw the children, and one of the children dies, it goes to the next heir by blood, which would be the grandchildren.

I'm sure you could amend your will w/ specific contingencies for setting up a trust. Otherwise its a lump payment.
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Old 05-15-2013, 08:48 AM
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Why would you give anything to anyone ?
SPEND IT while you can . Or I could definitely find a use for some of it.
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Old 05-15-2013, 12:18 PM
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Originally Posted by uncljohn View Post
if your current will has the estate split evenly betw the children, and one of the children dies, it goes to the next heir by blood, which would be the grandchildren.

I'm sure you could amend your will w/ specific contingencies for setting up a trust. Otherwise its a lump payment.
I thought most will would put surviving children or living. There is so much dependent on the situation I don't think this question can't be answer with out knowing more info.
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Old 05-15-2013, 12:30 PM
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Or you don't plan well, ignoring the advice of others, and all of your money goes towards the first six months you spend in a nursing home.
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Old 05-16-2013, 09:20 PM
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Originally Posted by Tireless View Post
What he said.
x2
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