Tuesday, January 26, 2016

Why Some Wills Don't Treat Children Equally

In 2010, according to this research, one third of parents with wills were planning to divide their estates unequally among their children. Fifteen years earlier, only 16 percent of parents were planning unequal distributions.

Why the trend to inequality? Mainly, the growing complexity of families as the result of widowhood or divorce. Stepchildren may get less than natural children. Children seldom seen after a divorce may receive less than children from a second marriage.

Stepchildren are wise not to expect to inherit much from a new step-parent. Their odds improve after ten years, and improve further if they produce babies for their parent and step-parent to fancy.
(A broker once told me that elderly English family members like to "baby fancy." Nice term.)

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