What is the name of your state (only U.S. law)?
This issue takes place in California.
I'll try to keep to the main points.
I hope this is the right forum for this matter.
I have a 15 year old niece who will be receiving structured payments from Social Security for what I believe to be a disability disbursement on her Father's behalf from a disability incurred while in the armed forces. He is still alive. Her parents are divorced. Her mother is her primary guardian.
My niece approached me and is very concerned her mother is going to go through the payments and spend them frivolously. Knowing my sister all my life I can say my niece's concerns are legitimate. The best solution I can think of is to establish a trust account to receive and hold the funds until she is 18 and then have them dispersed to her in full when she turns 18. The problem is I am not her legal guardian. I believe her father will go along with setting up a trust to collect the funds but I am fairly sure her mother will not and will want immediate unfettered access to the funds as soon as they are available.
Can I set this up with just the Father's approval?
Are their other options?
I just want to help my niece get all her money. If she could get it locked up till she's 18, she could have buy a house and a car the day after her 18'th birthday. I'd really like to make this happen for her.
Thanks,
A truly frustrated uncle...What is the name of your state (only U.S. law)?
This issue takes place in California.
I'll try to keep to the main points.
I hope this is the right forum for this matter.
I have a 15 year old niece who will be receiving structured payments from Social Security for what I believe to be a disability disbursement on her Father's behalf from a disability incurred while in the armed forces. He is still alive. Her parents are divorced. Her mother is her primary guardian.
My niece approached me and is very concerned her mother is going to go through the payments and spend them frivolously. Knowing my sister all my life I can say my niece's concerns are legitimate. The best solution I can think of is to establish a trust account to receive and hold the funds until she is 18 and then have them dispersed to her in full when she turns 18. The problem is I am not her legal guardian. I believe her father will go along with setting up a trust to collect the funds but I am fairly sure her mother will not and will want immediate unfettered access to the funds as soon as they are available.
Can I set this up with just the Father's approval?
Are their other options?
I just want to help my niece get all her money. If she could get it locked up till she's 18, she could have buy a house and a car the day after her 18'th birthday. I'd really like to make this happen for her.
Thanks,
A truly frustrated uncle...What is the name of your state (only U.S. law)?