When you’re reviewing your estate plan, it’s important to think about how to divide your estate among your children.
While you don’t need to leave children equal shares, be aware that inheriting unequal amounts can cause arguments among children after you pass.
To avoid disagreements from the get-go, you may want to leave your children equal shares.
If that is your goal, remember to consider any property or accounts you hold jointly with each child. Jointly held property or money passes outside of your estate and trust.
That means if you have listed a child as a caregiver on a bank account, or you jointly hold property with one child, it will pass to that child alone at your death. The same rule applies for a “pay on death” account.
Work with an estate-planning attorney to decide how to handle dividing an estate and to determine any needed provisions.