• Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Home
  • Our Firm
    • About Our Firm
    • Attorney and Staff Profiles
  • Services
    • Asset Protection & Business Planning
    • Elder Law & Medicaid Services
    • Estate and Gift Tax Figures
    • Estate Planning Services
    • Family-Owned Businesses & Farms
    • Legacy Planning
    • LGBTQ Estate Planning
    • Pet Planning
    • SECURE Act
    • Special Needs Planning
    • Trust Administration & Probate
  • Elder Law
    • Coping With Alzheimer’s
    • Emergency Medicaid & Nursing Home Planning
    • Guardianship & Conservatorship
    • Hospice Care
    • Medicaid Planning
    • Veterans Benefits
  • Seminars
  • Areas We Serve
    • Ballwin
    • Chesterfield
    • Clayton
    • Creve Couer
    • Des Peres
    • Edwardsville
    • Fenton
    • Glen Carbon
    • Glendale
    • Kirkwood
    • Maryland Heights
    • Oakland
    • Sappington
    • St. Louis
    • Sunset Hills
    • Valley Park
    • Webster Groves
  • Resources
    • Asset Protection Worksheet
    • Elder Law Resources
      • Chesterfield Elder Law
      • Fenton Elder Law
      • Kirkwood Elder Law
      • Sunset Hills Elder Law
      • St. Louis Elder Law
      • St. Peters Elder Law
      • Webster Groves Elder Law
    • FREE Estate Planning Seminars
    • FREE Estate Planning Worksheet
    • Frequently Asked Questions
      • Estate Planning
      • Families Without an Estate Plan
      • Legacy Wealth Planning
      • LGBTQ Estate Planning
      • Trust Administration & Probate
    • Is Your Estate Plan Outdated?
    • Medicaid Resources
    • Multimedia
    • Newsletters
    • Presentations
    • Pre Consultation Form
    • Probate Checklist
    • Probate Resources
    • Retirement Planning Checklist
    • Special Reports
      • Advanced Estate Planning
      • Basic Estate Planning
      • Estate Planning For Niches
      • Trust Administration
  • Reviews
    • Our Reviews
    • Review Us
  • Blog
  • Contact Us

Amen, Gantner & Capriano | Your Estate Matters, L.L.C.

St. Louis Estate Planning & Elder Law Attorneys

Logo
CONNECT WITH US TODAY (314) 966-8077
ATTEND A FREE WEBINAR
Home / Estate Planning / Can a St. Louis Estate Planning Attorney Help Me Decide How to Split Up My Estate among My Children?

Can a St. Louis Estate Planning Attorney Help Me Decide How to Split Up My Estate among My Children?

July 12, 2016

Estate Planning

St. Louis Estate Planning AttorneyFor a parent, estate planning can require some difficult decisions to be made. This is particularly true if you are the parent of adult children because you must decide how you divide your estate among your children. Do you simply split the estate evenly without regard to any additional factors worth considering or do you consider those factors and split the estate unevenly among your children? There is no “right” or “wrong” answer, nor is there a simple way to make your decision. If you find yourself unsure how to proceed, consulting with a St. Louis estate planning attorney will help.

Estate Planning with Minor Children

Estate planning for the parents of minor children is often much easier than for parents with adult children. One reason for this is that when you have minor children your options are somewhat limited because a minor cannot inherit directly from your estate. With that in mind, you will likely do what most parents do which is to establish a trust. The trust then holds your estate assets until your children reach the age of majority and are able to inherit those assets directly. In the meantime, the terms of the trust will determine how and when the assets are used. If assets remain in the trust when the last child reaches adulthood, they can be distributed to your children or you can direct that they remain in trust longer.

Estate Planning with Adult Children

If you children are already adults, you will need to decide how you wish to divide your estate. It is possible to keep the assets in a trust even if your children are adults; however, if you prefer to gift some, or all, of your assets to your children immediately upon your death you will need to decide how you wish to do that.

Is an Even Split Necessary? Is It Wise?

Here are very few “rules” when it comes to creating your estate plan. On the contrary, estate planning is a highly personalized endeavor that should reflect your unique hopes and wishes.  As such, there is no requirement that you split your estate evenly among your children. In fact, there is often a valid reason not to do so. Some common reasons why parents decide against an even split include:

 

  • Individual needs – you might have an older child who has already made his/her own fortune whereas our youngest child has yet to finish college. Given that you would have financed your youngest child’s edition and likely given him/her a financial head start on life, as you did for your oldest child, it would only make sense to gift more to your youngest child.
  • Addiction issues – now is not the time to sweep problems, such as an addiction, under the carpet. If you have a child who is struggling with a drug or alcohol addiction, a gambling problem, or any other similar issue, it would not be wise to leave that child a lump sum of money.
  • Spendthrift – a similar analysis applies if you have a child who simply is not good with money. Leaving a lump sum to a spendthrift beneficiary is akin to throwing the money away.
  • Spousal risk – is one of your children married to someone you don’t trust? This isn’t about liking or not liking a spouse; however, if you have true concerns about the spouse it may not be a good idea to leave a large sum of money and/or valuable assets to that child.

 

What Options Do You Have?

Ultimately, whether or not you decide to split up your estate assets evenly among your children or not is a decision only you can make after consulting with your Missouri estate planning attorney. If you are concerned that dividing your estate evenly is problematic, for one reason or another, you might consider going ahead and doing so but putting one (or more) child’s inheritance into a trust. Using a trust ensures that a Trustee, of your choice, will manage and oversee the asset you leave behind, significantly decreasing the chance that the assets will be squandered or used for questionable purposes.

Contact Us

If you have additional questions or concerns about your estate plan, contact the experienced Missouri estate planning attorneys at Amen, Gantner & Capriano, Your Estate Matters, LLC by calling (314) 966-8077 to schedule an appointment.

  • Author
  • Recent Posts
Charlie Amen
Latest posts by Charlie Amen (see all)
  • What’s Retirement Got to Do with it? - January 19, 2023
  • Refresh and Reset: Syncing up in San Diego - January 12, 2023
  • Estate Planning Reduces Stress During High Anxiety Times - December 16, 2021

Filed Under: Estate Planning

Other Articles You May Find Useful

The Lessons from Lisa Marie
Common Mistakes in Estate Planning – Part II
Common Mistakes in Estate Planning – Part I
Now That Mid-Terms Are Over, Let’s Talk Taxes
Refresh and Reset: Syncing up in San Diego
Planning for the “Silver Tsunami”

Primary Sidebar

Download our free Estate Planning Worksheet

There's a lot that goes into setting up a comprehensive estate plan, but with our FREE worksheet, you'll be one step closer to getting yourself and your family on the path to a secure and happy future.

  • This field is for validation purposes and should be left unchanged.

Follow Us

  • Facebook
  • twitter
  • linkedin
  • youtube

Blog Subscription

  • This field is for validation purposes and should be left unchanged.

Where We Are

Amen, Gantner & Capriano
10733 Sunset Office Drive, Suite 425
St. Louis, MO 63127

See Larger MapGet directions

Office Hours

Monday8:30 AM - 5:00 PM
Tuesday8:30 AM - 5:00 PM
Wednesday8:30 AM - 5:00 PM
Thursday8:30 AM - 5:00 PM
Friday8:30 AM - 12:00 PM

Map

map for Amen, Gantner & Capriano Your Estate Matters office
  • Advantages of Working With Our Firm
  • About The American Academy
  • Disclaimer
  • Privacy Policy
  • Sitemap
  • Contact Us

Footer

Connect to us

  • Facebook
  • twitter
  • linkedin
  • youtube
footer-logo

© 2023 American Academy of Estate Planning Attorneys, Inc.

Amen, Gantner & Capriano,
Your Estate Matters, LLC

Attorney Advertisement