Reply to Parents wanting to leave $1M home to sibling

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[quote=Anonymous]I've never understood the idea that kids should have zero say in how their parents leave their money.  Some kids work extremely hard in high school and win scholarships that save the family significant amounts of money. Sometimes the kid would much rather attend a more expensive school but sacrifices and goes to another school that will be much cheaper. Other kids, equally as talented and given the same parental resources, choose to coast through high school and their parents have to spend lots of money to put them through college.  Why would you financially reward the lazy child with an equal amount of inheritance?  You're basically giving that lazy sibling half the funds that were earmarked for the hard-working kid's college costs.

Or later in life, some children spend lots of money and time providing care giving for a parent, while the other sibling does hardly anything. To not account for the expenditures is a slap in the face.

It's one thing to spend more on one child because that child needs more resources in order to be on equal ground with her siblings, like a kid with special learning needs who would drown if she went to the big public school her siblings attended so instead attends an expensive private school.  But if one kid wants to be a Ninja Warrior and never makes it big, while the other became an accountant and set aside her dream to be a rock and roll singer in order to be practical, they should get the same amount of inheritance.  Neither is starving.  They just made different choices.

And as others have pointed out, nobody knows whether their children's financial situations will remain the same relative to one another over time.  All kinds of things can happen.  Divorce, disability, job loss, or winning the lottery. I know several people in DC and Silicon Valley who are sitting on incredible equity in their houses that resulted from plain old good luck.

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