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Reply to "Advising parents on how to set up will"
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[quote=Anonymous]My parents are in their late 70s and are fairly well off. They have a will (and a supposedly good lawyer) but they won’t provide any more details about how it’s structured. I am married with 3 kids and my sister is married but did not want children. She is already vocal about wanting to make sure things are fair, which to her means she gets 50% of everything and my family gets the other 50%... but I am pretty sure this is not going to be the case because of my kids (pretty sure my parents are setting up separate trusts for them and then dividing the rest 50/50). My sister already makes tons of comments about she thinks its unfair how generous my parents are with my kids and is convinced my parents pay for their schooling and extracurricular classes (which they don’t). My parents own two homes outright and did say they are leaving them to me and my sister to split 50/50. One of them is a summer home we use regularly but my sister told me she wants to get rid of it as soon as it comes to us whereas I would prefer to keep it. She said I can “buy her out at top dollar”. I am worried that my sister is going to make this all very difficult and would really prefer that rather than leave us things to split, they leave us things separately. Is this something people do? I know she will contest or challenge my kids getting money if something significant is let to them. Is there something I can advise my parents to do or a way to structure things so there is no or less conflict? I am not trying to tell them how to allocate their estate, I just want to minimize dealing with my sister over this. [/quote]
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