My wife and I are looking into getting a trust set up for her mother but have been told (3rd party) by the lawyer that we can't because my wife can benefit from the trust...here's the situation.
My MIL is in independent living at a facility with a roommate that loves her to death and makes sure she takes all of her medication as she has Dementia and Alzheimer's, would need to be in a memory care unit if it weren't for him. My wife has had medical and financial POA for my MIL since Jan of 2019 when my BIL suddenly died of cancer and he was the POA prior to his death. My remaining BIL passed away this past summer but he had been stricken from the will years ago and his small portion was to be split among the 4 granddaughters (his 3 daughters and our daughter) and if anyone were to contest the will their portion will then go to the remaining granddaughters to be split. My wife has been handling all my MIL's finances, medical bills, taking her to appointments, we had to learn about farming and crop insurance as there's 137 total acres of farm land, maintaining her home/paying monthly bills (that we'll be moving into later next year), etc...for almost 3 years now.
Of course my wife will benefit from the trust when the time comes...she's the only remaining sibling mentioned in the will and is the POA. As far as the grandchildren go we would have the trust written up that they would get their portion of the BIL's percentage of my MIL's assets consisting of assessed values of the house, farm land, monetary (CD's, cash, savings, checking, investments) split amongst the 4 of them when the time comes.
Am I missing something here and can anyone shed a little light on this subject or have had a similar situation? I told my wife that we just need to set up an appointment with this lawyer and go in for the free consultation meeting with him with all her paperwork showing she's the POA, death certificates of her brothers and all the bills and all the financial institution statements showing how she's taken care of everything from CD's, SS to farm income deposits into her accounts. I feel it would be more beneficial to explain and show everything in person that having our financial/tax preparer explain the situation to the trust lawyer. TIA