Will and Trust and new Stepmom?

What is the name of your state (only U.S. law)? CA


Hi -

My mother and father were married for almost 40 years. My mother passed away July 2007. We/They had a will and trust that everything would go to my dad and then to me, I am the only child. My dad then got remarried Jan 08 to someone he knew for less than a month and who is 12 years younger than him. We are going to the lawyer on Monday to update the will and trust. She has nothing at all - but also everything that was left to my dad was my mom's - she was the one that worked for 40 years to build all that we have - total assets about a million. My dad said 2 weeks ago that he wanted to house to go to me and didn't want her to even live there - now tonight he says he wants her to have the house because she got 'upset' when he told her the house was going to me. I just don't know what is done in these situations - she is also a person that tends to blow money away and it would be a disgrace if she ends up blowing away hard earned money my dad gives her. I agree she should have something, even if they have only been married a few months so far, I am just so upset over this situation, and so is my father. What are some methods or ideas to handle this situation? She also has 2 grown kids and grandkids my father doesn't want them to get anything. He just said he wants to make sure my stepmom isn't left out in the cold. (I suggested $100,000 she would get from the sale of the house, car and $1000 a month for x amount of months to help her with some expenses, since she should be working then as well). This is all new to us...any help would be great! thank you!

it is not an uncommon situation to have a beneficiary who is not financially savvy.

in this case, the trust typically doles out some sort of monthly monies to said person, but said person is not a trustee - treated much like you would a child.

so you basically take care of this person in whatever way you want, while the person is alive, and then the funds go to whomever you want.

so in your case, take care of stepmom while she is alive, and then you would be the beneficiary when she passes. and of course, while she is alive, you can also be paid a portion of the income. that is all the choice of your dad.

Let us know what the lawyer says. Your father's situation is not uncommon. What were his thoughts about this before the marriage? Was estate planning discussed before the marriage? Why not? Depending on how long your father lives (and how the Trust is worded), the wife and her grown children (and lawyers) could end up with a considerable portion of the assets.