Grandparents Leave Their Estate to Trust for Grandchild

I've been working with a couple recently who has been raising their grandchild since the grandchild was born. Their son was not responsible and the mother of their grandchild has a drug habit. Fortunately, the grandparents have been able to "save" this grandchild from his parents.

The couple knows that if their land and their money is left to their children, it will be wasted. Their children are not responsible, have no jobs, and have no appreciation for saving.

So the parents made a mutual decision to leave their entire estate for the benefit of their grandchild that they have been raising. Their children will not be included at all. If the grandchild is still young when the couple dies, the grandchild's inheritance will be placed in a trust with the grandchild's aunt as the trustee until the grandchild reaches the age of 25.

There appear to be no Texas forced heirship issues which would otherwise require the couple to leave an inheritance to their children. The children are older than 23 years of age, and the children are not incapable - they are just lazy.

The couple feels like they have worked for 40 years to accumulate some savings and some property, and they don't want to see it wasted by their children. They made a smart decision in leaving it in trust for their grandchild. Now - just maybe - their estate can do some good for their grandchild and their future great grandchildren.