Should Children Inherit Equal Wealth?

Remember what happened to Shakespeare’s King Lear? However, not having a will is the height of irresponsibility. The task must be faced.

There are many situations in which the obvious option — an equal division of assets among children — is the right choice. However, in some families, giving each child an identical inheritance might not make sense. As estate planning attorneys point out, there is a difference between leaving an equal inheritance, where each child receives the same amount, and an equitable inheritance, where each child receives what’s fair, given their circumstances.

So when does it make sense to leave each of your children the same inheritance, and when does a different arrangement make more sense? And how might each choice affect sibling harmony and whether your wishes are carried out as you intended? Here's a very comprehensive discussion of equitable vs. equal solutions.