Wills and Inheritances

by Bruce

How a person Will's their estate on passing is a very personal matter.

Do you divide everything equally among all living children to lessen the chance of hurt feelings?

Should consideration be given to the current financial situation of each child?

What if one child is kind, considerate and helpful and the other one is selfish, uncaring and never has time for you; and squanders their money?

Comments for Wills and Inheritances

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Inheritance
by: Anonymous

We have split the whole lot evenly between the three of them. We know they will ensure their children get a fair share.

Over the years we have helped them all out financially; one more than the other two due to her inability to plan/organise her life. But we have not tried to even this up in our wills.

They are aware we have done this and it does not seem to have caused any issues but we will not be around to find out.
Wills & Inheritances Today
by: Bernard Kelly - Geelong

Hi Bruce

When our children inherit, we will be in our 80s and 90s, and they will consequently be in their 50s and 60s.

As a generalisation, they will almost be at an age when they themselves will be exiting the workforce, and their life's journey will be well advanced.

So there's no need to worry about them - skip a generation and bequeath your assets to the grandkids. They will be at an age when a bequest could well be very meaningful.

cheers .... Bernard

So many things to consider
by: Michael - Warm and Sunny Venice Florida

Bruce - I have no children. I will leave my money to those who are special to me and enriched my life in some way.

My Mom says that you should treat all your children equally unless one is abusive.

  • If you have a child that needs help financially, why not help that child out while he/she is alive?

  • If the other child doesn't have time for you, is nasty to you, etc. Don't leave them anything.

  • Or, leave them a small monetary amount, and explain why you are not leaving them any more.

  • If your children have a strong bond between themselves, you might want to devise a plan that will not drive a rift between them after your death.

    As my Mom told me, "the friendship that my children share as siblings is far more important than any money I could leave to them."

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