There can also be trouble when parents decide to leave assets to children according to their perceived needs instead of an equal split. The children’s situations can change and giving different amounts may result in permanent damage to sibling relationships long after the parents have passed away. However, an equal split of the estate places the onus on the children to be good stewards of the money. In other words, simpler is sometimes better.

Communicate your intentions so that your children are prepared for the day when the assets are disbursed. They’ll have some idea about what is coming to them.

It’s always a good idea to speak with an experienced estate planning attorney. He or she can give you ideas and strategies to make your money go farther when your children inherit and find solutions for children who might not spend the money wisely.

Philip J. Kavesh
Nationally recognized attorney helping clients with customized estate planning guidance for over 40 years.
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