My husband is disabled, and we’ve gone into debt with medical expenses. I’ve always told him that if something were to happen to me, I know my parents would help him out. We both believed it.
In an attempt to reduce the taxes on his estate, my parents and their lawyers and accountants all got together and put together a plan.
When my father died, the assets my parents had were split. Half went to my mother, and the other half went into an irrevocable trust. I’m a beneficiary of the trust. I just got the final paperwork.
I have five siblings. We are all equal beneficiaries. Sort of.
If my oldest brother dies before my mother, his share of the inheritance goes to his heirs–his wife and kids.
The same is true of my other siblings with kids.
But if I die before my mother, because I don’t have any kids, my share of the inheritance is redistributed to my siblings.
Because I don’t have kids, I don’t get to name an heir.
I don’t particularly want the money. I’d prefer never to collect it. But if I die, my husband will need it. (I’m getting life insurance. That was another thread!)
I’m very upset by this, but it’s hard to put into words without sounding overly dramatic. I trusted that they would consider my heirs, my life. Instead, if I die, I just sort of disappear, and because they wanted to avoid taxes, there isn’t anything that can be done about it now.
Okay, even a pile on would be welcome if someone can show me how silly I’m being.