Your son's drinking, gambling and womanising have far exceeded your own. He seems happy to do it on your tab.
You have waited for him to settle down, get married and have kids but at 35 he shows no sign of slowing down. He says he is having too much fun.
You have told him that we are not here to have fun. You have explained to him the many benefits of marriage and children without success.
Your lawyer says that this is very common. Many sons have formed the view that marriage is a mugs game and kids make your life a misery. You do not know where they got that impression. Left to his own devices your son would quickly spend his inheritance. Then where would you be?
Your lawyer advises you that an “Alcotestamentary” trust clause be inserted in your Will. On your death, your son’s part of the inheritance would be managed by a trustee until he sobers up, if ever. The right trustee will look after your son and give him his inheritance in very sensible small installments. The real problem is choosing the right trustee.
His siblings may be too soft. An accountant is an excellent choice and will often add little lectures in money management which I understand are quite torturous. However, that does cost money.
The best choice by far, is an ex girlfriend especially one who fears that she has been left on the shelf as a result of your son’s dithering. Combine the ex girlfriend with a narrow minded religious friend of the family and your money should be quite safe especially if you provide that the trustees’ decisions are to be unanimous.
The right choice of trustee has been the first step on the path of sobriety for many wayward sons.
(c)Paul Brennan 2009.
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© Paul Brennan 2009.
Author of the Law is an Ass...Make Sure it Doesn't Bite Yours!
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