Part 4 of a series breaking down the process of helping clients set up their Wills by breaking the issues down into smaller, individual topics, enabling the adviser and client to take the necessary steps and get the plan moving.

Most clients end up having their property divided equally among their children. That’s natural, and it’s easy. It says the person loves his/her children equally and has no favorites. Is that what is really best, though? Consider a situation where one child is very successful and another has always struggled. Is an equal gift really what the parent wants? Perhaps a larger gift to the struggling child would provide much needed resources that the successful child does not need. Making an unequal division and adding an explanation might work better. “I am giving child X less than child Y, not for lack of affection, but because I think this is better for both of them.” Perhaps a child has special needs and would lose public support if s/he received too much property. The point is that equal gifts may not always be the best choice. Some beneficiaries need more support than others. By doing so in the Will, the parent does not put the burden on the more successful child to try to “make things right” with gifts or support afterwards. So, that less than equal gift may also be preferred by the more successful child.

Next, we will discuss leaving property to minor children and to older generations.

Our attorneys are always ready, willing and able to meet and discuss all of those questions, help you articulate your plan and goals, determine the best plan to accomplish them, and then implement it. You will find that, by taking those small bites, the problem that used to lead to procrastination and uncertainty has been addressed and resolved. Learn more about Mansour Gavin’s Estate Planning & Probate group.