Plus, a new reporter at Globe Advisor
There’s only so much you can do if a client confesses to liking one of their children more than the others. There may be defensible reasons for it. Best to stay out of it – except when it comes to bequests., with an inheritance, equal isn’t always fair. There may be better reasons than cold favouritism for clients to leave more to one child than another. One child may be a single parent with four kids while the other married rich.
In addition to creating family tension, an unequal bequest may increase the likelihood of a will being contested. Rod Mahrt, senior portfolio manager and senior investment advisor with Mahrt Investment Group at Wellington-Altus Private Wealth Inc. in Victoria, emphasizes that “even if the unequal distribution is well-intentioned, it can still be perceived as favouritism.”
The article outlines the potential complications with unequal inheritances and includes more suggestions for managing such situations. Rudy is filling the position vacated by reporter and podcaster Brenda Bouw. Fortunately, Brenda will continue to freelance for us. You’ll see her byline on her regular profiles of portfolio managers, retirees and advisors (and hear her voice as host of ourThe biggest concern for many Canadians heading into retirement is whether they’ll outlive their savings.
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