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Reply to "Inheritance when one child has kids, the other does not "
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[quote=Anonymous][quote] I am a firm believer in giving two each child evenly, including the amount given to grandchildren. One option is to divide it into two trusts. Your children should each be the beneficiary-trustee of their own trust. The remaindermen should be the grandchildren. If one child has not had kids, that child should have the option to leave the remainder to any of your grandkids or to charity. Or, give half to the child with no kids. Give the other half to the family of the child with kids: give seventy percent to the child and divide the other thirty percent among that child's kids. But don't do it so that one kid's side of the family collectively gets more just because they had grandkids. For one, what is the childless kid has kids down the road, winds up with stepkids etc? but even if that doesn't happen, it just isn't fair to give more to the sibling with kids. [/quote] This. I have a close friend from a wealthy family where the trusts were set up so that money could only be left to descendants. Neither she nor her brother has kids. Their aunt---who was fairly cavalier about spending down her part of the family trust---is adamant that the inheritance my friend and her brother received has to back into the trusts (so basically aunt's kids will get it). This arrangement has caused a lot of hard feelings, especially because it means that the brother cannot freely leave his share to his wife. Divide equally. If one child (and grandkids) benefit more during parents' lifetime, via payment of tuition, etc.---then deduct that from such child's share. [/quote]
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