Dividing your estate amongst multiple children is a delicate topic often met with undesired family tension.
Yes, divvying up your estate equally may help to avoid family conflict as well as an arduous and expensive litigation process should one of your children choose to contest your will. But you must also take into consideration each child’s needs, level of responsibility, history, and overall circumstances.
For example, if your children are all married with kids and have stable jobs, leaving each of your children an equal portion of your estate makes sense. Alternatively, you may choose to protect your assets from a child who has proven themselves financially irresponsible.
Likewise, possibly one of your children has been financially favored in the past (i.e., you paid for wedding, grad school, down payment on a house), and you would like these major financial gifts to be reflected by an unequal inheritance.
Additionally, you may also have a disabled child with ongoing medical expenses. To ensure they are provided for, you may consider leaving them a larger portion of your assets in a special needs trust.
No matter your circumstances, it is important to remember it is your money and you have the right to divide an inheritance according to your own wishes. Contact Kendal Law Group to discuss your options today!