spacer spacer
  •  
    Joshua and Laura Meier Newport Beach Trust and Estate Planning Attorneys Focused on Helping Families with Young Kids
    Joshua and Laura Meier
     

    Social Networking

    Facebook Facebook Google Plus LinkedIn LinkedIn Twitter


  • Archives






  • Categories




  • spacer
    Nov 12 12

    Newport Beach Families Should Treat Each Child Uniquely When Planning Their Estate

    Newport Beach Law Firm

    Every
    parent with more than one child knows that not all kids are created equal…And
    when it comes to estate planning, it's time to think hard about what each child
    needs and what you've done for each one already.

    Young Kids Playing SchoolIt’s never easy to make sure
    your children are equally supported. After all, they have different interests
    and gifts. Unfortunately, this task is no easier with adult children,
    especially when it comes to your estate planning.

    This subject was taken up by Business Insider in a recent article
    titled “Not Every Good Estate Plan Treats Its Heirs
    Equally
    .

    Sometimes you can divide
    everything equally and everyone is happy. Sometimes, however, the “even-Steven”
    approach may not be the best approach in every situation. For example, the
    recipients may have very different needs, some may be more deserving than
    others, or the estate assets may not be subject to easy division.

    Have you ever marveled at how
    children who grew up under the same roof and eating at the same table can be so
    different? It can be as simple as the differences between two individuals: one
    adult child is wealthy while the other is a starving artist; one child is
    disabled or otherwise needs medical aid while the other is as healthy as a
    horse.

    Then, there are the other kinds
    of inequities. For example, one child has received financial help from you over
    the years while the other toughed it out. The list of differences can go on and
    on, but it’s worth a look at the selection pulled together in the original
    article before taking a good look at your own plans and family dynamics.

    In so many words, life is
    complicated, and family can be complicated with it. When it comes to planning
    for your estate, there are bound to be any number of conditions you need to
    mull over. As a result, you might need to proportion and tailor the
    inheritances responsibly. When you do, be sure to consult with the attorneys at Meier Law Firm to help guide you.

    Contact your Newport Beach
    estate planning attorneys at Meier Law Firm to discuss all of your estate
    planning needs
    .

    Reference: Business Insider
    (October 26, 2012) “Not Every Good Estate Plan Treats Its Heirs
    Equally




  • Frequently Asked Questions

    Click Here To Call Our Office

    Click here to Read Our Blog
     
    Wealth Counsel Member

    Orange County Young Executives  
  • spacer
    Welcome | Practice Areas | About Us | FAQs | Becoming a Client | Events | Advisors Forum | Newsletters | Contact Us | Blog | Disclaimer
     
    Meier Law Firm | 2103 Vista Entrada, Newport Beach, CA 92660
    phone: 949.718.0420 e-mail: office@meierfirm.com