MARGARET O'SULLIVAN ADVISES PRACTITIONERS TO REMIND CLIENTS
OF THIS CRUCIAL FACTOR WHEN DETERMINING THEIR CHILDREN'S
INHERITANCE
One of the most challenging questions we face as advisors in
family succession planning is whether children should be treated
equally. Having spent over 35 years as a trust and estate lawyer, I
have gained perspective, as well as practical insight, on this
issue.
From a legal viewpoint, most common-law jurisdictions provide
for testamentary freedom, and each of us is free to treat our
children unequally, and even disinherit them. Financially dependent
children, however, often have a claim for support.
Let me start out with the observation that, in my experience,
almost all parents share the view that their children should be
treated equally under their wills. Most are punctilious about this
rule, particularly where some of their children have already
received financial assistance during their lifetimes. The notion of
complete formal
