‘He does not have a spouse or children’: My son has a serious genetic disease. What should I do with my $1.3 million estate?

A parent with a $1.3 million estate says their only child suffers from a serious genetic disease and is the sole beneficiary on the parent's 403(b) retirement accounts. The parent is seeking direction on what to do with their assets given the child's medical condition and family situation. The son, who has no spouse or children, stands to inherit the retirement accounts as currently designated. Those beneficiary designations would govern the transfer of the 403(b) assets upon the parent's death unless they are changed. The circumstances described combine a substantial estate with an heir who may have ongoing medical needs and no immediate family of their own. That combination is the basis for the parent's question about how best to structure their estate and account designations. The parent’s inquiry highlights the need to consider how assets will pass and who will control them after death. The details provided — estate size, the son’s health condition, lack of spouse or children, and existing beneficiary designations on retirement accounts — frame the core issues the parent is asking about.