Is it possible to write a will in such a manner that my daughter (5 years old now) will get all my assets when she 18?
If I die now, I am sure that my in-laws will grab all my money. My wife is too innocent, she can not avoid that. So, I want my daughter to get money 13 years from now.
I will make sure that if I die today, I will have enough for my wife to live a comfortable life. But I want a good portion of assets to keep growing in funds and stocks and let my daughter get them when she is 18.
I know I should be talking to an attorney for this. But I just want to know if such a think is possible?
Also, I would like to write a letter to my daughter which should be given to her along with all this money, when she is 18. Is this possible?
None of my relatives is in US and I can not trust any friend. So, tell me do I have to assign a trustee for this money? If yes, then who can I assign?
Help guys.
2007-01-04 09:03:14 · 5 answers · asked by Anonymous in Politics & Government ➔ Law & Ethics
Absolutely you can do that, contact a local wills and trust attorney. DO NOT attempt to write the will yourself. Some states have formalities you have to adhere to or you may misstate something or not bequeath your assets in a proper manner and have the will found to be invalid. Spend the money for a real attorney and get some piece of mind.
2007-01-04 09:09:34 · answer #1 · answered by Daz2020 4 · 1⤊ 0⤋
The laws vary from state to state, however 99% of the time your wife is automatically entitled to about 50% of your estate. The percentage will vary, however, she is basically entitled to what she would be upon dissolution of the marriage and something similar to a marital property accounting (basically your assets + her assets divided by 2 is what she is entitled).
You can leave the remainder to your daughter in trust, however you should appoint a trustee that you trust. As you seem to not trust your wife, someone else I suppose. You can appoint a lawyer as executor and trustee of your will.
Again another flaw comes in, as if you do not leave a substansial amount to your wife, and she is not appointed trustee of your daughter's portion, she is entitled to make a claim for child support against the estate, so she'll get it anyway.
Hmmmm...see, you really do need to talk to a lawyer.
2007-01-04 17:10:57 · answer #2 · answered by elysialaw 6 · 0⤊ 0⤋
Get a lawyer and set up a trust with your wife and daughter as beneficiaries and a trusted friend or attorney as trustee.
2007-01-04 17:13:42 · answer #3 · answered by Bostonian In MO 7 · 0⤊ 0⤋
People are vultures, aren't they?
Have a lawyer put everything you want for your daughter in trust until she is eighteen. Select an individual that you believe in to monitor that trust. It sounds like, if you gave that responsibility to your wife, she might give it to her family. So don't put the burden on her.
2007-01-04 17:07:32 · answer #4 · answered by Anonymous · 2⤊ 1⤋
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2007-01-04 17:08:38 · answer #5 · answered by citronge69 4 · 0⤊ 3⤋