What are my options for insuring that my child’s needs are met while he is still a minor?
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What are my options for insuring that my child’s needs are met while he is still a minor?
If my boyfriend wants to leave our son a lump inheritance available when he turns 25. However, he’s leaveing no money for the care of our son until he turns 18 years of age. Additionally, my boyfriend has never paid any support for our son.
Asked on November 6, 2011 under Estate Planning, Rhode Island
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
The best way to provide for a minor is to set up a trust for his or her benefit with a trustee that you feel confident that will take care of the child's needs as a minor. The suggested trust document can also set up a guardianship for the minor as well.
I suggest that you consult with a Wills and trust attorney about your question for further detailed answers.
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