why fair does not always mean equal

Bereaved families rarely fight over tax shelters or estate laws. Their quarrels often revolve around who receives which jewels, why Sandy gets the china, why James has been named Executor or why half the estate has been left to charity!

Many people feel obligated to gift their children and grandchildren an equal amount of money. Yet, what if your daughter, Stacey, is a very successful lawyer and does not need your money, but your son, Doug, is a stay-at-home dad and can really benefit from your generosity? If you choose to gift Doug more, will Stacey feel penalized for her success? Will the unequal distribution of your wealth cause a rift between Stacey and Doug? Will it strain your relationship with your daughter?

From your perspective leaving Doug more money than Stacey might make good sense, but how this act is perceived by your children will affect your future relationship with them, and their relationship with one another.

These are issues that you will want to consider before finalizing your will.

We believe that successful estate plans require communication between family members and should be discussed long before the reading of a will. And we understand that these discussions can be incredibly difficult and uncomfortable. That is why so many people avoid them. It would be terribly shameful however, if this great act of generosity, that is gifting money or other assets to your children and grandchildren, caused resentment, anger and strife between family members.

As the new year approaches and you start thinking about your goals for 2021, I want to encourage you to give some serious thought to your estate and how it will be divided.

On Thursday December 17, 2020 @ 7:00 pm Michael Zagari of Zagari+Simpson and associates and I, will be providing a roadmap about how to have these conversations, shed light on issues you need to consider, and provide you with access to financial expertise that will ensure that the accumulation of your wealth and your familial relationships are protected.

Join us for what promises to be a wonderfully rich discussion.

You must register to participate

To your success!

Dr. Gill