Fear of the Daughter (Son) in Law

13 Jul 2022 · 1 min

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0:58

In this brief video, the speaker addresses a common concern among parents and grandparents that a daughter‑in‑law or son‑in‑law might squander a child’s inheritance. He outlines three primary ways to handle the situation: (1) give the money directly to the child, trusting their judgment; (2) place the money in a trust with the child acting as trustee, which still allows the child’s spouse to influence spending; and (3) place the money in a trust with an independent or professional trustee, providing the greatest control over distributions. He notes the trade‑offs of each method, emphasizing that the third option is the most restrictive but also the least risky. The video concludes with a request for viewers to like the video and follow the channel.

Chapters

a fear that a lot of people I talk to have is that their daughter-in-law, sometimes their son-in-law, is going to run off with their child's inheritance. Sorry, ladies, but the numbers run against you on this, probably 2 to 1. We love her, but Lord have mercy, you ought to see the way she spends money. There are 3 ways I tell them this can be handled. The first way, of course, is just to give the kid the money and let the chips fall where they may. How much confidence do you have in your child? Second way is to put the money in a trust and let your child be the trustee. The downside there, of course, is that although the daughter-in-law or the son-in-law doesn't have direct access to that money, they can still convince your child to spend it. And the third and most restricted but also least risky way is to put the money in a trust and let a third party be the trustee and control the distributions. And the third party would be someone you trust implicitly or a professional trustee from a bank or a trust company. There's a lot more to it than that, but those are the bullet points. Now y'all do me a favor and like this video and follow my channel.