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The topic of writing a will is one that is highly sensitive because people are afraid to think of death. However, you must think about how your children will live once you are no longer in this world, especially regarding their inheritance.

Leaving an inheritance for your children is important. No parent wants to see their children suffer, and as such, it is important to ensure that your kids have something to fall back on when you are gone. This is why it is important to have a will, but often many parents find themselves in a dilemma when it comes to dividing their wealth.

Some parents may decide to leave unequal shares to their children depending on various factors such as which child took care of you in old age or which child was the favorite. However, this approach is not a good idea because it paves the way for contempt. Your child or children who receive a lower inheritance than their siblings will feel that you were unfair to them or that you favored the others. This may cause hatred or family feuds.

Perhaps it is best to consider leaving an equal inheritance for your children. However, this presents some new challenges. One of your children might be better positioned to spend their inheritance wisely while the other might end up wasting it. In some cases, an inheritance may rob your children of the motivation to work hard and get their own wealth. Similarly, one child may need the inheritance more than another.

What is the right approach?

There is no definitively correct method of approach when it comes to leaving an inheritance. You can however, make sure that things go smooth by talking to your children and asking them for their opinion regarding the matter while you are still alive. You should consider doing so during a meeting where all of your kids are available.

You might end up finding out that one of your children that has already made their wealth may decide that they do not want any inheritance. They might instead prefer that the other siblings become the beneficiaries.