There is not a one-size-fits-all solution for assisting a loved one who is dealing with substance abuse. What most experts agree on, though, is that you cannot force someone to undergo treatment. Family members can encourage recovery, but ultimately, the decision to seek therapy is up to the individual.
When considering including an addicted loved one in an estate plan, it is useful to remember that estate planning can be uniquely tailored to the needs of each family and individual. Here are some points to keep in mind as you try to fit a drug- or alcohol-dependent person into your plan:
- You do not have to disinherit them. While you may have concerns that any money or property you leave to an addict could not only be squandered but also contribute to their self-destruction, there are ways to provide them an inheritance that does not involve giving them direct access to it.
- Be cautious when relying on a sibling or relative to care for a family member experiencing addiction, manage an inheritance on their behalf, or help them get treatment. Addiction often takes an emotional toll on a family. A windfall could further heighten emotions, lead to disagreements, and result in an explosive situation that causes discord among family members. And most people agree that maintaining family harmony is important for their estate plan.
- If you have an underage child battling addiction, you can name a guardian in your will to manage their financial affairs for them until they come of age. But be aware that once they are legally an adult, the guardianship ends, so this is a short-term solution at best. A better solution would be to have their inheritance held in trust and appoint someone to manage their money and property until they reach an age you specify or a particular trigger event occurs.
You Are the Only One Who Can Protect Your Loved One
A final consideration about planning for an addicted loved one is what can happen if you fail to plan.
Without an estate plan, the unknowns can be greater—and more consequential. The court will rely on state law to determine who gets your money and property, how much they will receive, and when they receive it. Your loved one may end up with a lump sum of money and no restrictions. This default plan does not address the underlying addiction problem. And if your loved one is not a family member, they may not receive anything from you at all if you do not put an estate plan in place.
