Grandparent leaving money in Will

My mother, who is 93,has just decided she wants to change her will , increasing the gifts to her grandchildren.  One grandchild, my son, is a young teen with ADHD and autism, the others  who are my sister's,are late 20s/ early 30s neurotypical universiy educated etc. She sees it as having four grandchidren and treating them all the same  but I dont think its in my sons interest to  potentially inherit a substantial sum as a young adult . I would like the gift put in my trust fo me to invest on my son's behalf -  with no age restriction , but the solicitor has told my mother that my son will be entitled to it once he is 18 .

 Has anyone had experience of this and what is the best way to go about things ? 

Parents
  • I understand that you want what is best for your son, but with the best will in the world, it is your son's money. We on this forum can not know how capable your son will be at 18, and while it is often said that people with ADHD are more likely to spend money than save it this is not always the case, and I know this from personal experience.

    Getting a large sum of money out of the blue can be difficult for anybody regardless of ADHD, Autism or not, But your son knows that he will inherit and if his grandmother passes before his majority then he will know how much, he can therefore plan and learn about how and or where he might like to invest or spend his money. People with Autism like to learn and focus on things that inspire us so helping him to understand the importance of money management and how to do that might be something that will help him thrive. You can help him by pointing him in the right direction to learn. 

    If you were given permission to invest his money and you lost it then that would be far worse for your son than if he was able to spend it without ever having invested it himself.

    It is my belief that we need to learn for ourselves and we won't do that by having our parents do everything for us. Perhaps his grandmother believes that he is capable and feels that it is important that he is not treated as different. People with ADHD (especially) and or Autism do tend to mature a little later so perhaps talk to him about putting some or all of it into a more secure savings account that must be left untouched to mature so that he is leaving it and making interest on it til he's 21 or so. But I believe that it is important that this is your son's money then you must accept that and let him decide for himself what he wants to do for himself. 

    We don't know your son so we can not make any judgment on what is in his best interests, nor do we know you, taking control of your son's money may be a way for you to control him, though I would like to think it's not. 

    There are people in this world who have ADHD and Autism and they manage their own finances and there are neuro typicals out there who run them selves in to huge debts spending money like they will never run out. There are an impressive number of autistic self made millionaires - though its not happening to me any time soon. :) 

    I'm quite sure that what I just said is not what you want to hear but I would not have been impressed with my parents if they had done what you are suggesting but at 18 I would very much have like the opportunity to lean about investment and I would have been very capable of doing so. I was also a very different person at 18 than I was at 14. 

    I wish your son well and I hope his inheritance offers him a wonderful opportunity. 

Reply
  • I understand that you want what is best for your son, but with the best will in the world, it is your son's money. We on this forum can not know how capable your son will be at 18, and while it is often said that people with ADHD are more likely to spend money than save it this is not always the case, and I know this from personal experience.

    Getting a large sum of money out of the blue can be difficult for anybody regardless of ADHD, Autism or not, But your son knows that he will inherit and if his grandmother passes before his majority then he will know how much, he can therefore plan and learn about how and or where he might like to invest or spend his money. People with Autism like to learn and focus on things that inspire us so helping him to understand the importance of money management and how to do that might be something that will help him thrive. You can help him by pointing him in the right direction to learn. 

    If you were given permission to invest his money and you lost it then that would be far worse for your son than if he was able to spend it without ever having invested it himself.

    It is my belief that we need to learn for ourselves and we won't do that by having our parents do everything for us. Perhaps his grandmother believes that he is capable and feels that it is important that he is not treated as different. People with ADHD (especially) and or Autism do tend to mature a little later so perhaps talk to him about putting some or all of it into a more secure savings account that must be left untouched to mature so that he is leaving it and making interest on it til he's 21 or so. But I believe that it is important that this is your son's money then you must accept that and let him decide for himself what he wants to do for himself. 

    We don't know your son so we can not make any judgment on what is in his best interests, nor do we know you, taking control of your son's money may be a way for you to control him, though I would like to think it's not. 

    There are people in this world who have ADHD and Autism and they manage their own finances and there are neuro typicals out there who run them selves in to huge debts spending money like they will never run out. There are an impressive number of autistic self made millionaires - though its not happening to me any time soon. :) 

    I'm quite sure that what I just said is not what you want to hear but I would not have been impressed with my parents if they had done what you are suggesting but at 18 I would very much have like the opportunity to lean about investment and I would have been very capable of doing so. I was also a very different person at 18 than I was at 14. 

    I wish your son well and I hope his inheritance offers him a wonderful opportunity. 

Children
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