Estate Planning: Should Each Child Get The Same Share?
Are you a parent with multiple children? If so, they may end up being the primary (or sole) beneficiaries of your estate plan. You may be trying to decide: Should I give each child the same share of my estate? It is a very personal decision with no one “right” answer. Here, our Boston estate planning attorney highlights the key considerations for determining how to divide your estate plan up amongst your children in Massachusetts.
The Top Reason Why Many People Split Things Equally Amongst Children: Fairness
Many people opt to give their children an equal share of the estate. Indeed, in Massachusetts, that type of arrangement is often considered to be the “default.” The reason for it is relatively straightforward. It is considered (at least as a matter of perception) to be more fair. An equal split sends a clear message of impartial love and it helps to avoid accusations of favoritism. For many families, it is an approach that preserves harmony and minimizes the risk of future conflict or resentment. It also reflects a desire to be seen as just and equitable, especially when no child appears to have greater need than the others. An equal distribution is often the most simple answer.
Note: If you do not set up an estate plan, your assets will be divided under the Massachusetts intestacy laws. No biological/legal child will inherit any more than any other child.
The Top Reason Why Not Every Estate is Handled that Way: Different Needs/Circumstances
An equal split between kids is by no means required by law. Further, it is not the choice that all people make for their estate. In some families, an equal division of assets does not make the most practical or fair sense. Children may have vastly different financial situations, health needs, or levels of support provided during the parent’s lifetime.
As an example, one child may have served as a caregiver or received less financial help in the past. Others may have disabilities requiring long-term assistance. For this reason, tailoring personalized distributions to each child’s unique needs or circumstances can reflect a parent’s values more accurately than a one-size-fits-all approach.
You Have to Make the Right Choice for Your Goals, Priorities, and Family
Estate planning is not just a legal process. It is a highly personal one. Whether to divide your estate equally or unequally depends on your values, your family’s dynamics, and your long-term goals. Some families thrive on a strict sense of equality, while others benefit from thoughtful, need-based planning. The simple reality is that there is no universal rule. You are empowered to work with your family to determine what is the right option for your specific situation. The best decision is the one that reflects your intentions clearly and minimizes potential conflict or misunderstanding. A top-tier Boston estate planning lawyer can help you put the right plan in place to meet your goals.
Speak to Our Boston Estate Planning Attorney for Families Today
At Fisher Law LLC, our Massachusetts estate planning attorney is a compassionate and solutions-focused advocate for families. If you have any questions or concerns splitting up your assets amongst your children, we are here to help. Contact us today for a confidential, no obligation initial consultation. We provide estate planning services throughout the greater Boston area.
