Can I ensure a portion of my child's inheritance goes to my grandson's education? 26 Answers as of November 19, 2013

My wife and I just wanted to leave everything in our estate to our son, but we want to make sure a portion is used for our grandson's (his son's) college education. How can we do this?

Ask a Local Attorney. 100% Anonymous. Free Answers.

Free Case Evaluation by a Local Lawyer: Click here
Durham Jones & Pinegar | Erven Nelson
You can accomplish these goals through a trust, or possibly two trusts. You should consider a separate education trust for your grandson's education, with your son as the trustee. My partner specializes in education trusts, and can help you.
Answer Applies to: Nevada
Replied: 11/19/2013
Christine Sabio Socrates Attorney at Law | Christine Socrates
Yes, you can do this by setting up a revocable trust that has provisions that provide for your grandson's education. By doing this by trust, you are able to make provisions that will help you accomplish your estate planning goals and also make changes if those goals change through the years. If you would like assistance, I would be happy to speak with you.
Answer Applies to: Ohio
Replied: 10/31/2013
O'Keefe Legal Services, L.L.C.
O'Keefe Legal Services, L.L.C. | Sean P. O'Keefe
In Maryland, one can accomplish this goal by making a specific bequest with the appropriate language in one's will or trust. Other college savings methods such as 529 plans and prepaid tuition programs can help meet that goal, too.
Answer Applies to: Maryland
Replied: 10/28/2013
Law Office of Thomas C. Phipps | Thomas C Phipps
You can include a clause that leaves a specific amount to pay for college expenses.
Answer Applies to: Missouri
Replied: 10/28/2013
Stephens Gourley & Bywater | David A. Stephens
If you leave everything to your son, he will not have to use it for the grandson's education. To assure that it is you would need to set up a trust.
Answer Applies to: Nevada
Replied: 10/25/2013
    Law Office of Pamela Braynon | Pamela Y. Braynon
    By placing that info in your will. Or if you have established a trust, that can be one of the reasons for the trust.
    Answer Applies to: Florida
    Replied: 10/25/2013
    Neal M. Rimer, Esquire
    Neal M. Rimer, Esquire | Neal M. Rimer
    You can put a fixed amount of money into a 529 plan for your grandson. If you guess as to the right amount to put away, then this might work for you. A better, more sophisticated way may be to create a revocable inter vivos trust (living trust) and upon your and your wife's death, the living trust would provide that a sub-trust be created that would benefit your son and grandson. With an independent trustee, then your grandson's education, and support during school if you desire that, would be paid by the trustee. During your grandson's schooling, if you son needed money, the trustee could distribute funds to your son. When your grandson finishes school, then distribution(s) would be made to your son. In this way, you would insure that your grandson's education is truly provided for without future complications.
    Answer Applies to: California
    Replied: 10/25/2013
    Gottlieb & Goren, P.C.
    Gottlieb & Goren, P.C. | Aaron W. Goren
    Create a trust with certain funds set aside for your grandson with instructions how it is spent.
    Answer Applies to: Michigan
    Replied: 10/25/2013
    Robert E. Giffin | Robert E. Giffin CPA
    SET UP A SEC 529 ACCOUNT.
    Answer Applies to: Ohio
    Replied: 10/25/2013
    Law Office of Nathan Wagner
    Law Office of Nathan Wagner | Nathan J. Wagner
    You can accomplish this by leaving some money for your grandchild in a trust and specifying that the trust is to be used for his education. An estate planning attorney can help you set this up.
    Answer Applies to: California
    Replied: 10/24/2013
    Sebby Law Office
    Sebby Law Office | Jayne Sebby
    Set aside a specific sum in your will for your grandchild(ren), to be put in a trust and to be used for post-high school education. Describe how the money should be used if for some reason the child(ren) doesn't or can't attend college.
    Answer Applies to: Nebraska
    Replied: 10/24/2013
    Peters Law, PLLC
    Peters Law, PLLC | Mark T. Peters, Sr.
    You need to set up a testamentary trust for your grandson. My own preference would be to have somebody other than your son be the trustee so there is no conflict. Also, is it possible your son will have other children? If so, you might want to include any of your son's children as the beneficiaries. When the educational requirements have been met, you can then have the remainder go to either your son or your grandson, as you see fit. I really think you need to talk with a local attorney to get this accomplished. This also assumes that there will be sufficient assets to effectively fund the trust. If you don't have at least $100,000 to put into the trust, it may not be worth it. But again, talk with your attorney about it.
    Answer Applies to: Idaho
    Replied: 10/24/2013
    Danville Law Group | Scott Jordan
    The best way to do what you want is to carve out a portion (either $ amount or % of estate) to be held in trust for the benefit of your grandson and his education. If you are not using an attorney, why not? You should have an attorney draft the trust to your specifications.
    Answer Applies to: California
    Replied: 10/24/2013
    Frederick & Frederick PLC | James P Frederick
    A trust is the best and safest way to accomplish your objective. Your son could be the trustee, if you wish. If you give the funds directly to your son, however, they are his to do with whatever he wishes. If he gives them to his son, it could be considered a gift. A trust eliminates the need for probate and makes sure your intent is clear. The trust should be drawn up by an attorney.
    Answer Applies to: Michigan
    Replied: 10/24/2013
    Kokish & Goldmanis, P.C.
    Kokish & Goldmanis, P.C. | Bernard H. Greenberg
    The best way to accomplish this is to carve out a portion to be in a trust for grandchildren. Then you can specify what you want that used for.
    Answer Applies to: Colorado
    Replied: 10/24/2013
    Minor, Bandonis and Haggerty, P.C.
    Minor, Bandonis and Haggerty, P.C. | Brian Haggerty
    Look at options available to you during your lifetimes; I think the education IRAs, for example, are designed for grandparents. Also, look at "529" plans. If you want to do it in your will, leave a portion in trust for the grandson and specify that it is for education (also leave the trustee discretion to spend on extraordinary health care, if needed).
    Answer Applies to: Oregon
    Replied: 10/24/2013
    Goldsmith & Guymon
    Goldsmith & Guymon | Dara Goldsmith
    Include it in a Will, Trust or establish a 529 plan. I suggest that you meet with an estate planning attorney in your area to address the options.
    Answer Applies to: Nevada
    Replied: 10/24/2013
    Law Office Of Victor Waid
    Law Office Of Victor Waid | Victor Waid
    Suggest you consult with an estate planning attorney to have a trust prepared with your special instructions re son's receipt of and distribution funds for education purposes, that trustee will be required to follow when time comes for son to inherit.
    Answer Applies to: California
    Replied: 10/24/2013
    Law Ofices of Edwin K. Niles | Edwin K. Niles
    There are several ways to do this, but a detailed discussion would be advantageous. Please see an estate planning lawyer.
    Answer Applies to: California
    Replied: 10/24/2013
    James Law Group
    James Law Group | Christine James
    You need to amend your will or trust to specify what you want to go to your grandson, otherwise it is at your son's discretion.
    Answer Applies to: California
    Replied: 10/24/2013
Click to View More Answers:
12 3 4 5 Free Legal QuestionsConnect with a local attorney