ET Online
Dec 7, 2021
Negotiate with the children to help them understand why differential treatment may be justified.
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Do not allow the merits of their personal situations to impact your decisions on finances.
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Do not allow your personal biases to influence how you spend or support a child.
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Do not treat the expenses as investments. Like a child whom you believe will take care of you.
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Use simple tools such as percentage nominations in investments to divide your estate equitably.
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Don't own properties jointly with children and leave it behind to the joint owner, disadvantaging others.
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Make sure you list your financial assets, including insurance, and the paperwork is kept available.
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Don't extend your partial attention to the grandchildren. Your responsibility is to the children.
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Don't use gifts as a route to distribute your wealth. Gifts are irrevocable distributions.
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