Single mom next to assets below 500K desires to know how to protect 16 yo son from father's desperate money behaviour.bankru

I'm considering changing my existence ins beneficiary from my son's name next to his father as his caretaker. I don't want to have to start a trust tale and hire a lawyer

Answers:    No problem. A trust is the best opportunity but if you don't have any money to spare ( I would estimate cost at $500 initial and $300-500) annually for copy keeping and tax return, be in motion with another trustee besides your husband. ie. yoiur parents, siblings etc
the trust fund is the best road to go Im afraid unless you hold a trusted family appendage Well, as you know, if you leave the money to your son, his father will enjoy control over it. The only path around it, if you refuse to do a trust, is to depart from it to someone you trust, who will do right by your son.

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