Family dynamics can be interesting. Even families in Ohio who tend to get along can encounter problems from time to time. However, there are situations that can drastically affect a parent’s feelings about their adult children and their spouses.
People who are fearful that their child’s spouse will one day inherit their property shouldn’t be too concerned because only blood relatives are entitled to property. In some instances, though, people may wish to purposefully name an in-law in a will if they have a special bond with that person.
With that being said, an in-law is likely to be a recipient of an inheritance by default if they remain married to someone’s adult child. People who have strong feelings against that may want to consider keeping their child out of their will entirely.
People may also consider setting up a trust specifically for the adult child. People can even determine ahead of time how the money from a trust should be used. For instance, some people outline that a trust should only be used for educational purposes.
Estate planning can be complex. After all, there are sometimes many factors to consider. It is important that people take the time to determine what should happen to their valuable assets so that the property is distributed appropriately after death. Estate planning is especially important for people with very specific wishes.
Fortunately, legal professionals can be extremely helping during the estate planning process as well when issues come up after a person has died. In some instances, probate litigation may be necessary.
Source: nwi.com, “Estate Planning: Planning around a child’s spouse,” Christopher W. Yugo, April 13, 2013