Few things are more difficult for parents than watching their adult children struggle. At some point, parents have to back off and let their children learn the hard way. In some cases, they may develop serious, recurring issues that force the entire family to limit the support that they provide.
When someone struggles with a substance abuse disorder, they may take advantage of the family members attempting to help them. They may steal, lie and use every opportunity they have to continue to indulge in their addiction.
Parents reviewing or establishing estate plans may feel compelled to disinherit an adult child struggling with addiction. Before they take that drastic step, they may want to consider an alternative option.
Trusts can prevent the misuse of assets
It is possible for concerned parents to leave financial support for their adult children struggling with substance abuse without encouraging their worst behaviors. Establishing and funding a trust allows a parent to leave resources for specific purposes for a vulnerable beneficiary.
They can instruct the trustee to only make distributions in specific circumstances. In fact, the terms of the trust may require direct distributions to outside payees, such as medical providers or educational institutions, instead of granting direct access to beneficiaries. It is also possible to include incentive terms in a trust, such as requiring that an individual undergo substance abuse therapy or prove their sobriety before accessing resources.
Parents who feel anxious about leaving resources directly for beneficiaries with substance abuse issues may need help looking into alternate options. Looking into different estate planning solutions can help people support their loved ones without encouraging their worst behaviors.