I just see too many people who sit on hundreds of thousands of dollars to leave to their children and won't spend a penny on themselves. If that is the intent, why not do it when it can do the most good?
It's your money.
I just see too many people who sit on hundreds of thousands of dollars to leave to their children and won't spend a penny on themselves. If that is the intent, why not do it when it can do the most good?
incentives are not bribes
incentives are not bribes
Is that what Kirk told you to tell the judge?
I object.
How can on go about leaving something to their child and prevent their spouse from ending up with it?
Let's say you leave your married child a nice sum of money and shortly thereafter, their spouse divorces them. What's to keep them from running off with half the money?
It depends upon what is being presented as a gift. Giving free use of one's property as long as someone cares to use it is perfectly acceptable. Giving the property to someone is acceptable. Your scenario would seem to be something along the lines of transferring ownership with a list of terms and conditions.
I can see it causing a lot of issues. If I was the husband, I can see saying to the wife, it's your dad's house let him mow the lawn. It's your dad's house let him calk the windows. It's your dad's house let him dig up the dead bush, paint the house, etc... you know how it is when you are arguing, stuff like that becomes ammo to be used against your spouse.
I can see it causing a lot of issues. If I was the husband, I can see saying to the wife, it's your dad's house let him mow the lawn. It's your dad's house let him calk the windows. It's your dad's house let him dig up the dead bush, paint the house, etc... you know how it is when you are arguing, stuff like that becomes ammo to be used against your spouse.
I have to agree that some butt heads would do/say this. Depends on what their character or lack of contains.
Personally, I wouldn't want to be beholding to my parents or my wife's parents for anything. Say I married a young lady who already "owned" her own house and I did not. It would probably be natural that in many cases, the new husband would simply move in and begin building a life. But if that home was actually owned by the parents -- nah...maybe long enough to get up on your feet but for the long haul...nope.
Personally, I wouldn't want to be beholding to my parents or my wife's parents for anything. Say I married a young lady who already "owned" her own house and I did not. It would probably be natural that in many cases, the new husband would simply move in and begin building a life. But if that home was actually owned by the parents -- nah...maybe long enough to get up on your feet but for the long haul...nope.
If you were single and owned a house outright or had a sizeable equity in it, would you get married without a prenup? I sure as hell wouldn't.
If it were just a house, yes. If it were a few million dollars, maybe, maybe not. If you're chosing to marry the person, you are joining lives with them. Assets are part of that life. If there is a massive difference in net worth it may be reasonable, but to say to someone you love them and want to be with them forever, but they don't get the rights to some of your stuff seems odd to me.
If it were just a house, yes. If it were a few million dollars, maybe, maybe not. If you're chosing to marry the person, you are joining lives with them. Assets are part of that life. If there is a massive difference in net worth it may be reasonable, but to say to someone you love them and want to be with them forever, but they don't get the rights to some of your stuff seems odd to me.
Being entitled to half of someone's stuff for the simple act of marrying them seems odd to me.
I've heard about med students getting married so their spouses can work to pay for school or greatly reduce the debt load. Once they're out, they get divorced with only half the debt load or a free education.