Planning for the future is a personal and sometimes emotional process. Many Texas adults find that they want to keep the details of their plans private as they may feel uncomfortable discussing intimate financial details and medical decisions. However, in the event that heirs will receive uneven inheritances, it may be important to explain the intent behind these decisions. This could prevent disputes and discontent among heirs.
Reasons for decisions
Siblings may expect to receive even inheritances after the passing of their parents, so it could come as a surprise when one receives more than another. While the parents may have had a specific reason for making such a choice, it could be important to explain why. Fairness is subjective, and children may feel displeased by the terms of their parent’s will. The motivation behind these decisions is personal and specific, perhaps based on a child’s assistance with a family business or other factors.
Another common reason for uneven inheritances is different needs. One sibling may benefit from additional financial support, and his or her parents may want to ensure stability by giving more of their estate to that child. Parents may also decide to give a portion of their estate to charity rather than directly to their kids.
An important discussion
Discussing estate planning intentions may be important. This could reduce the chance of fighting and disputes between heirs, and it could provide peace of mind that adult children understand why their parents made certain decisions. When considering uneven inheritances or other estate planning matters, it may help to discuss these things with an experienced Texas estate planning attorney.