Should Success Levels of Children Impact Inheritances?

There are various decisions that must be made when you are mulling over the future distribution of your remaining assets after you pass away. Of course you have to make a list of the people who will be receiving inheritances, and then you have to decide how much to give to each individual.

Many people would say that you obviously give equal amounts to people that share the same relationship with you, such as your children and your grandchildren. If you decide to give a certain total percentage of your overall estate to your children they should divide this percentage equally because this is the only fair and equitable choice.

There is nothing inherently wrong with this logic, but some people see it a different way. They take the financial situation of each person into consideration and make certain adjustments.

This is going to result in unequal inheritances. If you decide to leave inheritances that are not equal you may want to consider making your choices known to all interested parties.

An individual who feels as though he or she was unfairly treated could take exception and contest the estate on the grounds that the decedent was not of sound mind when he or she executed the estate plan. Allegations of undue coercion or fraud could also be at the core of a challenge.

If you bring everyone together and explain your decisions all family members will know that you are indeed making your choices when you are of sound mind. They will all know that you understand exactly what you’re doing and why you are doing it, and this should eliminate the possibility of a successful estate challenge.

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Ryan M. Denman and Dennis D. Duffy

Duffy Law Office, PLLC