Friday, May 5, 2017
In estate planning, the question often arises of how to divide your estate among your children. The primary goal when making this determination is to provide for a division of wealth that will still allow your children to get along with each other after your death. Problems can arise when children are treated differently based on their financial circumstances; therefore, trusts are an easy way to treat your children in an equitable manner depending on their needs. When planning for minor or dependent children, you should also consider passing your assets to a discretionary trust for those children until they reach adulthood. To assure that the wealth passed down is being managed fairly, you should select a qualified trustee, someone who can remain neutral and professional for generations to come.
See Kevin Duncan, Be Fair to Your Heirs: Treating Children Fairly in Your Will, Fiduciary Trust International, April 14, 2017.
Special thanks to Joel Dobris (Professor of Law, UC Davis School of Law) for bringing this article to my attention.