Submitted by: yanushkevich


Hello, I have an IRA and for personal reasons I do not trust my son or his wife to spend any inherited IRA to assure a college education and for the future of my grandkids.   I do not want to add any more to the kids' 529, because I need the money and I would be sending an unintended signal to encourage my son in his behavior, but there should be enough left in my IRA to tidy the grandkids through school.


I live in NY State.  A friend of mine went through a similar situation in California.  California required him to get legal guardianship first and then to withdraw the money from his mother's IRA and place it into a bank savings account paying virtually no interest.


Regardless of the consequences, my purpose in deeding my IRA to my grandkids is to send a clear and loud message to my son, that my wishes continue beyond death and beyond his reach.


Would appreciate anyone who is or has faced this situation to educate me on their personal experiences.  Thank you