Thinking about the best way to pass on your assets to your loved ones and other beneficiaries can be a complicated process. Thankfully, meeting with the right estate planning attorney can make a big difference.
Figuring out the distribution amounts that every beneficiary should receive is not always easy. Bear in mind that thinking about fairness is not the same as thinking about equality. If being fair is your highest priority, then it might make sense to leave behind the same amount for every individual beneficiary. However, there are certain situations where you may wish to think about proportional gifts based on each individual situation.
A great example of this is any parent who has a special needs child. Leaving a larger share of assets to the child inside a special needs trust simply recognizes that that child may need it more than others. Providing a bigger share to a child with a lower income or bigger obligations such as a larger family may also be considered when thinking about fairness. Another situation in which you may choose to compensate one child separately has to do with when one of your children have elected to take care of an aging parent.
Leaving more assets behind to that beneficiary recognizes the contribution of that child. Make sure to set up a meeting with an experienced Georgia estate planning attorney if you have further questions about the best way to leave behind distributions for beneficiaries.