Parents and grandparents that are planning their estate often encounter the issue of how much they should leave to each heir. One of the big major issues is the difference between an equal inheritance and a fair one. Many parents might feel that giving each child an equal share of the inheritance might not be completely fair if each child is experiencing a different set of circumstances. One child might have a disability and their parent might want to give that child a greater share so that they can be taken care of. Families need to be open with each other when communicating about these important issues. If there is going to be an unequal inheritance the children should understand the reasoning so that there are no bitter feelings between siblings.
See Kyle E. Krull, Is an “Equal” Inheritance the same as a “Fair” inheritance?, Wealth Management, January 19, 2015.
Special thanks to Jim Hillhouse for bringing this article to my attention.
