• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Parman & Easterday

Oklahoma Estate Planning Attorneys

Call Now: (405) 843-6100

Attend an Education Program-OK
  • Home
  • Our Firm
    • About Our Firm
    • Attorney and Staff Profiles
    • What Our Clients Say
  • Estate Planning
    • Asset Protection
    • Estate and Gift Tax Figures
    • Estate Planning Services
    • Family-Owned Businesses & Farms
    • Financial Planning Assistance
    • IRA and Retirement Planning
    • Legacy Planning
    • LGBTQ Estate Planning
    • Pet Planning
    • Powers of Attorney
    • Probate
    • SECURE Act
    • Special Needs Planning
    • Trust Administration and Probate
    • Young Families
  • Elder Law
    • Coping With Alzheimer’s
    • Elder Law
    • Emergency Medicaid
    • Guardianship & Conservatorship
    • Hospice Care
    • Medicaid Planning
    • Veteran’s Benefits
  • Resources
    • Asset Protection Worksheet
    • DocuBank
    • Elder Law
      • Elder Law & Medicaid Definitions
      • Elder Law Reports
      • Elder Law Resources
        • Edmond Elder Law
        • Oklahoma City Elder Law
        • Overland Park Elder Law
        • Yukon Elder Law
      • Medicaid
      • Nursing Home Resources
    • Estate Planning
      • An Overview of Estate and Gift Taxes
      • Estate Planning Checkup
      • Estate Planning Definitions
      • Estate Planning Reports
        • Advanced Estate Planning
        • Basic Estate Planning
        • Estate Planning for Niches
        • Trust Administration
      • Incapacity Planning Definitions
      • Is Your Estate Plan Outdated?
      • Top 10 Estate and Legacy Planning Techniques
    • Free Estate Planning Worksheet
    • Frequently Asked Questions
      • Alzheimer’s FAQs
      • Asset Protection Planning
      • Estate Planning
      • Elder Law
      • Frequently Asked Questions for Families Without an Estate Plan
      • Inheritance Planning for Minors
      • Legacy Wealth Planning
      • LGBTQ Estate Planning
      • Medicaid Planning
      • Nursing Home Asset Protection
      • Probate
      • Trust Administration
      • Trust Administration & Probate
      • Wills and Trusts
    • Newsletters
    • Probate and Trust Administration
      • Bereavement Resources
      • How to Know if You Need Extra Help With Your Grieving
      • Loss of a Loved One
      • Probate Checklist
      • The Mourner’s Bill of Rights
      • Things You Need To Do When a Loved One Passes Away With a Trust
      • Things You Need To Do When a Loved One Passes Away With a Will
      • Trust Administration & Probate Definitions
    • Probate Resources
      • Midwest City Probate
      • Moore Probate
      • Oklahoma City Probate
      • Overland Park Probate
    • Published Books
    • Pre Consultation Form
  • Communities We Serve
    • Edmond
    • Midwest City
    • Moore
    • Norman
    • Oklahoma City
    • Yukon
  • Reviews
    • Our Reviews
    • Review Us
  • BLOG
  • Contact Us
Home » Asset Protection » Fair Isn’t Always Equal and Vice Versa

Fair Isn’t Always Equal and Vice Versa

November 18, 2020 by Courtesy of Parman and Easterday

When you’re deciding how your assets should be divided at death, sometimes dividing them equally is the appropriate choice. But, sometimes it’s not. Fair isn’t always equal or vice versa. Read on to learn more, including how to avoid a challenge if you choose an unequal division among your children.

by Steve Hartnett

When deciding how to split your assets among your children at death, there are many different factors to consider. Equality is certainly one of those factors. But it’s not the only factor. Fair doesn’t always mean equal and vice versa.

Here are some situations in which some parents might think an equal division isn’t necessarily the fairest result:

  • One of the children has greater need due to no fault of their own.
  • One of the children has won the lottery and has much, much more money than the others.
  • One of the children has devoted much more of their time and energy to care of the parents.
  • One of the children has been involved in the family farm or other business.

Let’s look at the Webster family: The parents, Sally and Jim, have four kids, Betty, Charlie, Diane, and Eric. The kids are all grown.

Knowing nothing more, you might think they should divide the assets equally between their children.

Let’s see if your thoughts change if we modify the situation in the Webster family.

  • Betty has disabilities which will cause her a lifetime of large, unreimbursed medical expenses.
  • Charlie won $50 million in the lottery and has more money than he needs to live a comfortable life.
  • Diane has devoted countless hours to taking care of Sally and Jim, who’ve lived with her for the past decade.
  • Sally and Jim had a business which Eric stepped in to run when their health declined.

In one of these situations, some parents might choose to alter what otherwise might have been an equal division of the assets among their children. Other parents might not.

If you choose to leave an unequal division of your assets, here are some things you might consider to reduce the odds that your children might take issue with your division and challenge your plan or cause disharmony in the family:

  • Make sure your wishes are laid out clearly in your estate planning documents.
  • If you aren’t leaving one of your children anything, for example, because they’ve won the lottery, be clear that you are intentionally omitting them. If you wish to explain your reasons, do so in person or in a personal letter to them rather than in the estate planning documents.
  • Don’t give reasons in your estate planning documents. Those reasons could be used to undermine your plan by arguments that they aren’t applicable.
  • Consider leaving a smaller, but significant, inheritance to the child, along with utilizing a “no contest” clause which removes that inheritance if they challenge your plan.

The best way to eliminate conflict and bad feelings from an unequal division is to let the beneficiaries know ahead of time. If you explain your reasons to them, they may not agree with you, but the odds of conflict and bad feelings drop sharply.

Fair isn’t always equal. But an unequal division has the potential to spark bad feelings. Be sure to head that off at the pass by communicating your reasons ahead of time. That’s the best way of achieving your goals, including the goal of family harmony.

Stephen C. Hartnett, J.D., LL.M.
Director of Education
American Academy of Estate Planning Attorneys, Inc.

  • Author
  • Recent Posts
Courtesy of Parman and Easterday
Latest posts by Courtesy of Parman and Easterday (see all)
  • Spring Summit 2022: Celebrating Friendship in the Lone Star State - June 22, 2022
  • The Power in Powers of Appointment - June 8, 2022
  • The Toll of Serving as Fiduciary - June 1, 2022

Filed Under: Estate Planning, Legal Education Tagged With: beneficiaries, children, unequal

Other Articles You May Find Useful

wills
Did You Know There Are Different Types of Wills?
Spring Summit 2022: Celebrating Friendship in the Lone Star State
The Power in Powers of Appointment
Parman & Easterday
Are Assets in a Living Trust Protected From Creditors?
The Toll of Serving as Fiduciary
living trust
Can You Revoke a Trust?

Primary Sidebar

Parman & Easterday, LLP

DOWNLOAD OUR FREE ESTATE PLANNING CHECKLIST

SUBSCRIBE TO OUR BLOG

Follow Us

  • Facebook
  • LinkedIn
  • Twitter
  • YouTube

Where We Are

OKLAHOMA CITY, OK
13913 Quail Pointe Drive, Suite B
Oklahoma City, OK 73134
Phone: (405) 843-6100
Fax: (405) 917-7018

MAP

parman_sidbr_map

Office Hours

Monday9:00 AM - 5:30 PM
Tuesday9:00 AM - 5:30 PM
Wednesday9:00 AM - 5:30 PM
Thursday9:00 AM - 5:30 PM
Friday9:00 AM - 12:00 PM

Footer

footer-logo

The information on this Oklahoma Law Firm website is for general information purposes only. Nothing on this or associated pages, documents, comments, answers, emails, or other communications should be taken as legal advice for any individual case or situation. This information on this website is not intended to create, and receipt or viewing of this information does not constitute, an attorney-client relationship.

Privacy Policy | Contact Us | Disclaimer | Site Map | Powered by American Academy of Estate Planning Attorneys


© 2022 American Academy of Estate Planning Attorneys, Inc.
  • Facebook
  • LinkedIn
  • Twitter
  • YouTube