I have a will set up for my four children to receive equal shares of my estate. Since I set up the will, I have decided that I don't want two of my children to inherit directly. One is because he belongs to a religious cult and I am pretty sure he would donate his share to the cult and continue to live in poverty. The other is more tricky. My daughter is disabled and on SSI and she is set up to receive all of her services through the state. It took years to get all of her services in place. If she inherits, it will kick her out of the system and then when the money is gone, which will not be long, she will be left with no safety net to get reesablished and there will be no one to help her since I will be gone. This causes me considerable anxiety. Is there a way to divide my money estate between the two other children and make sure that they will give money as needed to the remaining two?
1 Answer from Attorneys
A testamentary trust for your religious child and a special needs trust for your SSI recipient child should do it. Your other two children could be co-trustees of both trusts or you could select another trustee or trustees.
The testamentary trust could make distributions as the trustee(s) deems best or at a certain trigger-point in the religious child's life.
The special needs trust, because your disabled child cannot control it, can make distribitions for her maintenance, education, security and health as needed.