You may find the most comprehensive approach for your estate plan to be setting up an individual trust for each of your children. As the grantor of these trusts, you may maintain complete control over how much you contribute to each, along with how they will be managed and distributed upon your death. In other words, you may not have to transfer equal amounts of property and assets among them. Without further ado, please continue reading to learn whether you should divide your estate unevenly among your children and how an experienced Putnam County estate litigation attorney at the Law Office of Andres D. Gil, PLLC, can help you break this news to them.

Why would I divide my estate unevenly among my children?

As a parent, you may always try to make things fair among your children. But you should know by now that “fair” does not always equate to “equal.” This is to say that certain circumstances may make your decision to divide your estate unevenly among your children valid. Specific examples read as follows:

  • One of your children, sadly, has a history of substance abuse, gambling, or otherwise an addictive personality.
  • One of your children, sadly, has a serious physical or mental health concern that requires intensive healthcare.
  • One of your children has married someone with a history of money mismanagement, bankruptcy, fraud, etc.
  • One of your children has goals to pursue an advanced degree, take over the family business, start their own business, etc.
  • One of your children has made a lot of personal sacrifices to be your primary caregiver in your older age or ill state.
  • One of your children still has financial support from your former spouse (i.e., their other parent) and their new partner.

Will this uneven distribution cause disputes amongst my children?

While you may have carefully considered your distribution decision and deemed it fair, your children may not see it that way. We recommend that you sit down with each of your children to justify your decision so they can understand your perspective.

If they are left completely blindsided, it is more likely that one of them will step forward and contest your estate plan in front of the New York State Surrogate’s Court. Specifically, they may turn one of their siblings and accuse them of placing an undue influence on you. That is, claim that they forced you to establish estate planning decisions you never really wanted.

At the very least, even if they do not enter estate litigation, your children’s relationships with one another may become strained. This may stem from feelings of jealousy and the assumption that you favorited one over the others. This may come at an unfortunate time when they should instead be helping one another cope with and mourn your loss.

To ensure you do not go through this critical yet complex process by yourself, please reach out to a skilled estate planning attorney in Putnam County. Our team at the Law Office of Andres D. Gil, PLLC, is more than happy to serve you.