Put it in a family trust for you and your children and get it sorted before he passes away. What would you tell your DH? Would he be shocked or upset ? I assume he is aware that this inheritance is coming your way?
Thanks so much for the responses everyone. Unfortunately my father is no longer deemed mentally capable to make changes to his will (brain tumours have damaged his ability to think and communicate clearly), so I don't think there's anything that can be done there now. Is there anything that I can do myself to put the money into a testamentary trust when it comes? A large proportion of it unfortunately will be used to reduce our joint debt, so I suppose that then comes up for debate if we split, but there should be a balance that I could stash away for myself if that's possible. I haven't thought too hard about whether I'd tell DH about the balance. He knows there's an inheritance coming but doesn't know how much. I'm also an executor of the will so assume I'll have discretion to put the money where it suits me? A pretty morbid topic, sorry 😟
I think an estate lawyer would be better in this instance. they'll be able to advise of structures and options that may be available.
I do agree that you can't hide money from your husband. however tempting it may be.
Do you or someone have power of attorney you may be able to get this. Still see a lawyer asap!!!
Two things I have considered doing with my inheritance to protect my children from a money hungry MIL should anything ever happen to Dh and I was having it put into a trust in mine and the children's names for X amount of years or using it to buy investment properties in each of the children's names. Of course, I would be the only one with access to any of the trust assets. I haven't discussed it with a lawyer yet as I won't receive it for sometime. My grandmother is doing all she can to stall because my uncle is in a difficult marriage where his wife has outright said she is going to leave once that money comes through.
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