Planning For A Secure Future

Why you might choose to leave unequal inheritances

On Behalf of | Sep 12, 2023 | Estate Planning

When California residents plan their estates, unequal inheritances are sometimes an issue based on family circumstances. This situation may warrant different shares when a family business is in play. Ideally, this is something you can address in advance.

Why heirs’ needs may differ

Each family has different circumstances that may impact estate distribution. Some examples of how heirs might receive their inheritance include:

  • Equal shares among all parties
  • Proportionate shares based on need
  • Allocating part of the estate to charity

Estate plan limitations

A helpful thing to remember is that estate plans cannot fix family issues. The most important thing to remember about estate plans is that their primary purpose is to transfer assets on death.

Some who possess wealth may set up foundations to ensure their money supports worthwhile causes. However, heirs may need help deciding which causes to support or struggle with the day-to-day operations that come with a foundation.

Experts recommend having clear communication about your estate to prevent issues. An estate plan involves your ability to plan and make it easier for your heirs to make plans based on their inheritance.

How to educate yourself

Estate planning professionals are willing to provide the advice you and your heirs require. Ensuring you are as well-prepared as possible helps ensure a smoother inheritance process for whoever receives anything from your estate.

One of the advantages of educating yourself before planning is helping your heirs understand your decisions while you can do so. You can also make sure they know who to go to for advice.