What if Treating Your Children Fairly Means Unequal Inheritances?
When planning their estate, most parents try to treat their children equally in an effort to be fair. However, sometimes being fair or doing what’s right by your children may not mean equal or the same inheritances.
The Key Takeaways
- Treating children the same does not always provide for equal inheritances.
- To be sure each child receives an inheritance, you may need to be customize your estate plan to treat all of your children as individuals.
- Not providing an outright inheritance is usually a good choice, as assets that stay in a trust are protected from irresponsible spending, divorce, predators, and creditors.
When Unequal Inheritances May Be Fair
There are often special situations to consider before you distribute the family pie into equal part