Posts Tagged ‘pot trust’

Giving Your Children Unequal Shares: The Pot Trust

pot trustIf something were to happen to you and your partner while your children were still minors, how would you divide your assets among them?

If you answered “equally,” you are like many parents who presume that giving each child an equal share of your estate is the fairest solution. But in some cases, uneven distributions may be a better — and surprisingly fairer — alternative.

The way you currently provide for your children is based on need rather than on equity. If Susie needs to see a doctor, it does not matter that she has gone to the doctor twice more than Bobbie this year; you take her to the doctor’s office anyway. Your financial decisions are based on needs as they arise, not a meticulous accounting to ensure that you spend exactly the same amount on each child. Your estate plan should match this.

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