Wills

[Lizzie]

My daughter has a mental health illness. I have 3 children. My concern is when my husband and I die and we leave money behind. Our daughter can become very unwell when she has a large amount of money. Also it may affect her disability payment. What have others done about this. 
sorry this is vague. But my concern about this is disabling.

[Ru-bee]

Hi @Lizzie and welcome. 

While I can't personally offer guidance on this, I'm wondering if it might be something that you could discuss with your lawyer to talk about what options there might be when creating the will?

[Lizzie]

I do plan on doing that but I don’t want to go in there with no knowledge. Thanks for your reply.

[tyme]

I'm not sure how old your daughter is, but from experience, people set up trust funds to hold onto that money @Lizzie

I hear your concerns. I hope you get some answers from the lawyer.  

[PeppyPatti]

Hi @Lizzie 

How are you tonight ? 

Yes, I met a man who got very unwell when he got two inheritances. I even went with him to the bank and tried to get him to place it in a trustees fund ( I think) but the next day he walked in there and took all the money out. He was also extremely rude to me about that.......

Even though I'm 57 my stepmother decided to gift me money. She has it in a trustees account for me. There is nothing I can do to withdraw anything. As I'm on a pension, I got a lawyer and a whiz bang financial advisor I was referred to  from GOOD friends  - people who have known me all my life. She is working out my pension not to be affected even with my new found wealth. 

I'm extremely vulnerable. I'm both extremely grateful for her concern however a tiny bit  annoyed that she doesn't trust me. 

Hope this helps.