From Equal Split to Splitting Headache The Dangers of Inheritance Division
In a perfect world, all beneficiaries would handle and accept the division of someone’s assets fairly, respectfully, and without conflict upon their passing. Unfortunately, the lack of a solid and explicit estate plan is often a gateway to familial acrimony at best and legal challenges at worst. If you think dividing your assets equally among your children is the easiest and most convenient way to squash squabbles before they arise, think again. Here are critical reasons why fairness doesn’t always mean equality in estate planning. Conquer Conflict With Caution When creating an estate plan, it’s crucial to recognize family dynamics are often as unique and complex as the individuals who comprise them. Rather than splitting your assets equally to make everyone happy, you must take an honest and unflinching look at who will benefit most from what — and who shouldn’t receive particular assets. For example, if you built your net worth on the success of your family business, your natural inclination may be to divide this asset among your four children. However, let’s say only one works in the business and has been vital to its strength in the marketplace. Would that child be comfortable receiving only 25% of what that business is worth? What if one of your other three children has a history of financial recklessness, and another is the only one with young children to support? Has the fourth child acted as your caregiver at any point? Would any children use the inheritance to engage in harmful or illegal
activities? These are just some questions to consider when straddling the line between neutrality and disharmony. In some extreme cases, disinheriting an adult child from your will may be the most prudent — albeit emotionally challenging — option. Solutions to Strained Ties If any of the matters discussed here have prompted you
to either redraft your existing estate plan or create one, please contact our office today to discuss your needs. We work with clients to address
sensitive matters and are committed to establishing an estate plan that serves the best interests of your beneficiaries and preserves your legacy.
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TAKE A BREAK!
INGREDIENTS
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3 tbsp honey
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4 (6-oz) mahi mahi fillets Salt and pepper to taste
3 tbsp soy sauce
3 tbsp balsamic vinegar
2 tbsp vegetable oil
2 tbsp olive oil
Cooked brown rice, for serving
2 tsp grated fresh ginger root
3 cloves garlic, minced
DIRECTIONS 1. In a shallow bowl, mix honey, soy sauce, balsamic vinegar, olive oil, ginger, and garlic. 2. Season fish fillets with salt and pepper, then place them skin-side down in the marinade. Cover and refrigerate for 25 minutes. 3. Add vegetable oil to a large skillet over medium-high heat. Remove fish fillets and add to skillet, reserving marinade. Fry fish for 4–5 minutes on each side, turning only once, until fish flakes easily with a fork. Remove fillets to a serving platter and keep warm. 4. Pour the reserved marinade into the skillet. Simmer over medium heat until reduced to a glaze. Spoon glaze over fish and serve over brown rice.
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