Tuesday, March 01, 2011 NEET Tips
NEET Tips answers questions posed online to the NEET website
Is it OK to treat my children differently in my estate plan?
It’s both OK and sometimes advisable, but dependent entirely on one’s personal and family circumstances. The default for most parents is to treat their children equally, but situations arise where leaving money to one child already very well off doesn’t seem to make sense when other children are equally productive but in careers that simply don’t compensate as much. Factors that go into this decision include the amount of money at issue, whether a child will feel slighted if their share is unequal, and possibly whether a child simply doesn’t deserve as much as their sibling, among other issues. Talking through how you want to proceed, and the best way to accomplish your plan, is best done with an experienced estate planning attorney, who has dealt with similar situations before. |