Should you be ‘fair’ with the inheritance you leave to your kids?
Your estate plan may be your last words to those you leave behind. If you’re a parent, you should think carefully about the message you’ll be sending.
Parents who leave their children unequal inheritances risk fueling family feuds. But strictly equal bequests also can cause resentment if the heirs don’t see the distribution as fair.
“Money can cause family discord, and you want to make sure that you are thinking through this and keeping sibling relationships intact,” says Colleen Carcone, co-author of “Principles of Estate Planning” and director of wealth planning strategies at TIAA.
The opinions voiced in this article are for general information only and are not intended to provide specific advice or recommendations for any individual.