Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)

Mom Confessions Mom Confessions

Inheritance question

Anonymous
Posted by Anonymous
  • 9 Replies
My dhs grandmother passed away last week and left him a substantial amount of money. I am afraid this money will send him back into the life he had prior to our relationship (ie: drugs, alcohol, other women, and just spending like it is water on unnecessary things.). Should I request a money manager to him so he has to go through that person whenever he wants to take large amounts of money?
I would hate for his addiction to money and spending cause our life to go to shit. We have our childrens futures to consider also.
Posted by Anonymous on Feb. 22, 2014 at 7:10 PM
Add your quick reply below:
You must be a member to reply to this post.
Replies (1-9):
Mamasgirl524
by Platinum Member on Feb. 22, 2014 at 7:10 PM
I would definitely make the suggestion..
Anonymous
by Anonymous on Feb. 22, 2014 at 7:11 PM
I think that's a reasonable request considering his history. It's best to see a financial expert anyway whenever you get a lot of unexpected cash.
AJsMom81507
by Gold Member on Feb. 22, 2014 at 7:30 PM

i guess it depends on the amount

to most of CM anything over $1,000.00 is a substantial amount,

remember they cost a % of what is given to him to manage his money.

and he doesnt have to, unless its in his grandmothers will that it is in trust

Peaceful.chaos
by Ruby Member on Feb. 22, 2014 at 7:31 PM
I'd not only suggest it, I'd insist on it.
Posted on CafeMom Mobile
Anonymous
by Anonymous on Feb. 22, 2014 at 7:35 PM
Unless his grandmother had a trust with a trustee set up or your dh is so unstable that the court would grant a financial guardianship then there's not much you're going to be able to do besides suggest it. Maybe instead of assuming this is going to go down hill fast you could sit and honestly explain your fears and concerns to your husband and the two of you could come up with a plan.
Anonymous
by Anonymous - Original Poster on Feb. 23, 2014 at 10:45 AM
Quoting AJsMom81507:

i guess it depends on the amount

to most of CM anything over $1,000.00 is a substantial amount,

remember they cost a % of what is given to him to manage his money.

and he doesnt have to, unless its in his grandmothers will that it is in trust



Well it contains 6 figures and well over 100,000 so it is substatial. There is no trusteeship and I have looked at costs now just to get dh to understand my concerns.
lasombrs
by Gold Member on Feb. 23, 2014 at 10:48 AM
It takes 12-18 months usually for the money to actually come. They have to give all possible bill collectors at least a year to put forth claims. Would he still be close to go back then you think? You could but you would have to pay for it out of the money.

My aunt died last July and my son and I are getting a lot of money but it's still a while away :/
quickbooksworm
by Ruby Member on Feb. 23, 2014 at 10:51 AM
I'd suggest he talk to a financial planner about how to invest it for the least tax liability. If its invested, he won't he able to go to an ATM and take cash on a whim, its a process.
Anonymous
by Anonymous - Original Poster on Feb. 23, 2014 at 11:48 AM
Quoting quickbooksworm: I'd suggest he talk to a financial planner about how to invest it for the least tax liability. If its invested, he won't he able to go to an ATM and take cash on a whim, its a process.


Good idea. Thank you.
Add your quick reply below:
You must be a member to reply to this post.
Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)