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re: Would you alter your will if one child became wealthier?
Posted on 4/15/24 at 8:53 pm to meansonny
Posted on 4/15/24 at 8:53 pm to meansonny
quote:
Go with equal distributions. There are lots of things that families can resent one another for. Why would a parent want to be a cause?
I can see it both ways. It really depends I would say.
If one kid becomes a multi millionaire (thinking $100M+) vs another that lives an upper middle class life. And you have a few hundred thousand plus your house in your name.
Maybe talk it over with my kids, but like another poster said I hope I raise my children right that they would both want what is best for each other.
Posted on 4/15/24 at 8:55 pm to Pintail
I think with significant outliers it would make sense. Like if the estate is worth $1M and one of the kids is worth $15M. I'd talk to them about it though.
This post was edited on 4/15/24 at 8:55 pm
Posted on 4/15/24 at 9:41 pm to Pintail
quote:
I can see it both ways. It really depends I would say.
If one kid becomes a multi millionaire (thinking $100M+) vs another that lives an upper middle class life. And you have a few hundred thousand plus your house in your name.
Maybe talk it over with my kids, but like another poster said I hope I raise my children right that they would both want what is best for each other.
The honest to God truth is that kids should expect nothing from their parents.
The sacrifices that my parents made in bringing me life and raising me makes me in debt to them. The opposite of looking to them for handouts when they pass.
That would allow me to not get upset if a family member got something that I didn't. My wife is an only child and I don't think her mind works that way. She thinks I get taken advantage of.
My advice was under the belief that most people are like her. Fair is fair. And anything else is a fracture that needn't exist.
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