When you leave assets to beneficiaries, they are known as bequests. In many cases, people will write their estate plan so that all of the bequests are relatively equal. Adult children may share ownership of real estate property, for example, or a parent may split up financial assets evenly, giving each child the same percentage.
Unequal bequests, on the other hand, are when things are not split up in the exact same fashion and some beneficiaries receive more than others. It is completely legal to do this. Even though many estate plans are equal, there is no legal obligation to make the estate plan perfectly even or “fair.” The person who is writing the plan has full say in how they want to divide their assets, even if that means leaving 95% to just one person.
Disputes may arise
That being said, in some cases, unequal bequests will make an estate dispute more likely. This does not mean that the estate plan has not been drafted correctly, but just that some of the beneficiaries may be unhappy with the portion that they receive. If someone assumed that they would receive the exact same amount of assets as their siblings, for example, they may feel insulted and upset to receive less.
One key thing to remember about these disputes, though, is that a person cannot challenge an estate plan just because they wanted more money. They have to demonstrate that there are actual legal issues with the plan, such as a lack of testamentary capacity or undue influence. If the unequal bequests were made correctly, they should still stand.
This is just one area to consider when drafting an estate plan for your family. Be sure you know exactly how to set it up and what steps you can take to limit disputes in the future.