Protecting adult child’s inheritance from ugly divorce fight and poor money decisions
New Jersey lawyer, Ken White is quoted in a Q&A article with the question from the parent/grandparent’s perspective – looking to protect her son’s and grandchildren’s inheritance in the event of her son divorcing. The article “Your Money: Protecting adult child’s inheritance from ugly divorce fight and poor money decisions” was written by Karin Price Muller in the Star Ledger in May of 2014.
“Q. We have a son and a daughter, and each has a seven-year-old child. We need advice on estate planning. We have $1.3 million in an IRA, a home worth $600,000 and a limited partnership investment that provides annual income of about $40,000. We live in New Jersey but plan to retire to Florida in about three years. Ideally, we would like to leave our estate equally to our kids. However, my son’s marriage is not stable and his wife has a bad record of managing money. We want to be sure to protect his part of the inheritance. What should we do? Assume a worst case scenario where their marriage ends in an ugly divorce fight! — DP”
Ken White gets commingling and inheritance. More in the article about estate planning.
Read the full article on nj.com “Your Money: Protecting adult child’s inheritance from ugly divorce fight and poor money decisions”
ABOUT Ken White, ESQ
Kenneth White is a partner in the New Jersey law firm Shane and White. Ken White’s legal practice includes Family Law and Divorce.