How do u handle wanting to give one child more inheritance

Wow, amazing to think this could even be an issue! My brother has a disability and I have no doubts that my parents will leave almost everything to him as they should......sorry to hear of your situation. I really don't understand how anyone can put money before family.

 

Having read Shakespeare "king lear" it may not be a wise idea giving away your assets before death

 

When my parents first went overseas, my 19 year old brother as at uni and still living at home.

Mum and dad wrote their wills that he could live in the house until he was 30, at which time the house would be sold (he had first option to buy) and divided between the siblings.

We all thought this entirely reasonable.

Luckily my parents lived to a ripe old age.
Marg

 

Why should parents leave almost everything to a person just because they have a disability ?
Is it not better to leave it to a person who is most capable to earn enough to provide for all the current and future generation ?
If there there is no one capable then perhaps employ someone ?
If one of the persons cannot maintain the "golden goose that lays the daily golden egg" then all will be lost but properly run the "golden goose will perhaps lay golden eggs for ever and ever" and no one will ever be needy.
NOTE: Leave is leave in "Trust" the most capable will be a Trustee/manager distributing "the golden eggs" . NOT leave to them as personal distribution.

 

I'm sure most parents of disabled children have most likely set up trusts to ens

Disabled people need help to get by. Trusts are a good option but I don't believe we are discussing financial strategies. My point was simply that I'm happy for my sibling to receive what my parents leave. I'm also aware that my sibling will become my responsibility and I'm fine with it...couldn't imagine how a sibling could feel any out her way.

 

Ideally it would be wonderful if all the beneficiaries and the Will maker(s) came to agreement. Sadly, it doesn't always work out that way. I suppose it's a question of relying on integrity which may not be there. The $$eyes can do strange things to people.

While I've not altered my will in respect of the distribution of the estate, I have removed one of mine as an executor. My observation is they have unfortunately turned out to be mean of spirit with a tendency to be manipulative. It was an attitude I never expected but it is what they have demonstrated.

I can only hope my remaining executors don't have a lot of trouble as it's a rubbish job. I didn't like being an executor but did it as it was a legal responsibility I accepted and discharged it to the best of my ability.

 

Names have been changed for legal reasons.

'Just print, sign and start stealing': One form that let a relative fleece a grandmother of $2 million

 

That story seems confusing... who took advantage? The son of the the victim or a relative?

 

Hi Buddy, that is a tricky question as you would, ideally seek to avoid a family provision claim being filed after you have died. Although there are no guarantees, you have an option to make an express statement in your will as to why you are doing this and why its fair and reasonable to the beneficiaries... in addition, you should clearly explain in your will that you have already provided to the remaining people (those who receive a lesser portion of your estate) about how you have already provided to them during the course of your life time.

Keep in mind, the court will read your will as it contains your last wishes after you die.

Note: there are no guarantees a family provision claim will not occur but you will have some peace that you turned your mind towards avoiding one. In my experience, family provision claims break up the family... shocking how greedy people become on the death of a family member - snatch and grab before the body is cold. Morbid topic this one.

Good luck and I hope you live to a ripe old age

 

To avoid beneficaries problem perhaps give the bulk of your wealth away while you are alive (just keep a small amount like $5m to $10m live off )

 

"Just keep a small amount like $5-10M to live off"

I'm glad you're doing well, Beano. That would be a huge estate. Bearing in mind that super is usually outside your estate, the vast majority of estates are < $1M.

 

I read William Shakespeare's "king lear" and now I would never give everything away ...while I am still alive! ...(even though my children (5yr) promised they would look after me when I was old...)