Should I Leave my Children an Equal Distribution of my Assets?
The question of whether you should leave everything equally to your children can be difficult for many families. There are a variety of reasons why you may not want to leave assets equally to your kids:
- One child is better off than the others
- One child has provided care during your final years while others have not
- You do not have a relationship with one of your children
- You have concerns about your child’s spending habits or about their creditors
One of the biggest causes of estate disputes and will contests is the unequal distribution of assets. Therefore, you need to make sure you plan your estate properly to ensure that it does not end up in probate court.
If you have this concern, do not let the fear stop you from disposing of your estate according to your wishes. A knowledgeable and experienced estate planning attorney can help you navigate these issues when it comes to planning your estate.
Disputes can often be avoided by properly drafting your will or trust and explaining your estate wishes to your children.
If you are concerned about one of your children blowing through their inheritance, or losing their inheritance due to creditors, lawsuits and other predators, there are often strategies you can pursue as opposed to leaving assets unequally. For instance, you could leave your assets to your children in a trust and direct when, and in what proportions, your children receive assets from the trust.
You might still desire to leave your estate to your children in unequal portions. In this case, you will need to speak with a knowledgeable and experienced estate planning attorney to avoid unnecessary disputes and litigation.
For more information
If you have questions about estate planning, please contact our office at (513) 241-0400 or use the contact form available on this website to schedule a time to speak with one of our Estate Planning attorneys.
We look forward to hearing from you!