You can't save SIL from herself. Nor, really, do you really have the right to. It's her life, and she has the right to run it the way she wants---even if you think she should do differently.My 1st though was an annuity, but, yeah, the very first JJ Wentworth commercial she saw on TV would negate that.Next best thing would be to set up her inheritance as a trust controlled by a local bank or lawyer, with pre-defined periodic distributions.The absolute WORST thing is for you or wife(?) to be in control of her money. That would be nothing but grief for you.Obviously, the parents who the inheritance is coming from would have to be the ones who set up the trust.This cannot be an unknown problem with estate law --- surely wastrel inheritors has to be a common problem going back centuries. So surely an appropriate lawyer would be able to make suggestions.
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