wow. your take on life here and now is sorely dated.gavinmac wrote:I would suggest they have uncertain futures regardless of the financial status of the fathers. Even if the fathers have money, is there really a way to create an ironclad trust in Cambodia that prevents the mother and her parents and relations from blowing all the money? Even a well-intentioned mother was inexperienced with money or overly trusting of family could get fleeced pretty easily.youngwill100 wrote: I guess they do face mixed futures depending on the financial status of their foreigner fathers.
Don't fathers with money have to keep it in a Western country in an ironclad hereditary trust if they want their kid to see it in 15-20 years?
I think would I would do in this situation is create a hereditary trust that says "My money and income from my money can be used by my wife during her lifetime for her expenses and for raising my kid. Then, when my wife dies, the kid gets the remainder." Or "my wife gets $2000 a month during her lifetime then the kid gets the rest when she dies"
If the wife just gets everything free and clear when you die, she could squander it, or she could leave it to her parents/siblings/other children when she dies. That's not good.
reminds me of old farts talking on the riverside circa 2005.