17 Oct
Most parents in Texas work hard to ensure that none of their children feel as if their siblings are favored in some sort of way. While ensuring that each child has the same opportunities in their life is understandable, there are often extenuating circumstances that could lead a parent to leave one child a larger inheritance than others. Parents who may be considering doing so may be unsure of the best way to do so.
When determining how an estate will be divided, there are several different reasons why a parent may choose to leave one child more than the other. For example, one child may be financially stable due to a high-paying job while the other may be less so. Perhaps one of the children is the primary caregiver for the aging parent, ensuring that the parent is taken care of and arrives at doctors’ appointments.
For many people who choose to divide their assets unequally among their children, the decision of whether to discuss it in advance is an important one. Some may choose not to discuss it in advance as plans could ultimately change before they come to fruition. Others may choose to explain in an attempt to soothe hurt feelings and potentially reduce the chances of a challenge.
Fortunately, there are experienced professionals in Texas who can help those making decisions regarding their children’s inheritance. Such a professional can take measures to plan for a challenge to an estate plan, for example. In some cases, it may be appropriate to include a clause in a plan that would ultimately penalize a person challenging it. An experienced attorney can also help guide the conversations with potential beneficiaries detailing decisions made regarding asset division.