The distribution of wealth among beneficiaries through your final will and testament is often a complex and sensitive issue, one that can potentially spark conflicts and legal challenges among family members.
Estate planning is an activity many families, especially in lower-income communities, don't often use, despite its many benefits. Two-thirds of Americans don't have a will, according to the 2022 Caring.com survey.
Children are treated fairly when it comes to inheritance. But “fair” doesn’t always mean “equal,” especially if your family situation or assets are complicated. In some circumstances, giving kids equal inheritances may not be the best option.