Do you expect to receive an inheritance?

[rennigade]

If parents love their kids, they need to set up an inheritance so they only receive a certain amount per year. For some reason, I thought I read at one point this also protects child if they would ever get divorced. Guess the other party would only be allowed access to whatever money has been paid out, not future money that is going to be received. I may be wrong though.

[disneysteve]

If parents love their kids, they need to set up an inheritance so they only receive a certain amount per year. For some reason, I thought I read at one point this also protects child if they would ever get divorced. Guess the other party would only be allowed access to whatever money has been paid out, not future money that is going to be received. I may be wrong though.

As long as inherited money is kept separately in the beneficiary's name only, I believe it is not counted as marital assets. The mistake many people make is co-mingling that money after they get it which removes that protection.

As for setting up an inheritance to be paid out over time, I'm sure that can be done through some sort of trust. If the amount is substantial, it may be worth considering that option.