You worked hard to be able to leave something behind for your loved ones, but now, you have a child who's struggling with substance use disorder (SUD). If you're not careful when crafting your estate plan, you run the risk of doing one of two things: you may wind up leaving your troubled child money they might blow, or you may end up disinheriting them entirely, which may lead to emotional turmoil and discord among your beneficiaries.
The estate planning attorneys at Ruggiero Law Offices understand your concerns. We can help you consider different options that may enable you to leave your child funds without their inheritance contributing to certain behaviors related to their SUD. Here are some of our top recommendations.
Establish a Trust With Conditions
You may be able to leave your child assets on a conditional basis so they don't end up in the wrong places. For example, you may decide to establish a trust that they can only access once they've received treatment and are managing their sobriety effectively, such as regularly attending recovery support meetings. When creating the trust, clearly stipulate what happens if your child fails to meet the terms you require.
Inform Your Child About Your Plans
It may also benefit your entire family for you to give your child struggling with SUD an idea of what your plans are. If you intend to leave assets behind on a conditional basis, make sure they're aware of this before your passing. This may help avoid inheritance conflicts and related issues, and may also give your child some incentive to focus on sobriety.
Having a child with a substance use disorder is difficult, but with a solid estate plan in place, everyone may sleep better at night. At Ruggiero Law Offices, we believe in having authentic conversations about your family's needs and concerns, then crafting solutions that give you confidence about your heirs' future.