The Listen to Lawrence Letter: Circumstances when beneficiaries are not treated equally in your estate plan

June 24, 2021
Dear Clients and Friends,
In one of my recent LISTEN TO LAWRENCE LETTERS, I discussed reasons why some clients decide to create an estate plan, naming their children as beneficiaries, UNEQUALLY. One of my client readers suggested another reason:
One significant factor that Lawrence left out of the equation is how much financial support was provided to an individual child during your lifetime.
The reasons may be many, but regardless, the financial legacy you pass on, I believe should be decided equally but not necessarily to the child themselves, i.e. by-pass to Grand Children as an example.
This reader brings up a good point. Does helping one child during life, more than another, matter? Should we keep track if our kids have different needs/challenges? Should it depend upon why that child needed more help? The reader is also correct to point out that we sometimes skip a child in favor of their children.
Good dialogue. Keep it coming!
I hope this helps! Please forward this information to your friends and relatives to share these informative answers to some very commonly asked questions.
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As always, please send me your questions. If you are thinking about it, others are probably too, so my answers will no doubt help you and many others.
Let’s stay connected.
Stay safe!
Until next time…
peace, health and happiness,
Lawrence Eric Davidow