How to leave money to a family member with an addiction

Opioid addiction has reached epidemic proportions. According to the Centers for Disease Control and Prevention, more than 42,000 people lost their lives due to opioid use in 2016, a fivefold increase from 1999. Fueled largely by the opioid crisis, drug overdoses now represent the leading cause of death for Americans under the age of 50.
The emotional and financial havoc addiction wreaks on families is staggering. Kids from stable, loving families become addicted and will go to great lengths to get money for drugs, even stealing from their parents or other family members. Many parents of chemically addicted children grapple with anger and guilt, and often spend thousands — even hundreds of thousands — of dollars on that child’s rehabilitation. Oftentimes it’s the money they had set aside for retirement.
Financial advisers, who have long worked with families to help them achieve their goals, often find themselves in the middle of these difficult situations, working with parents to put into place financial safeguards that protect not only family finances but also the well-being of the relative battling addiction.
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