Imagine that you are preparing your will and are trying to decide how to divide your assets

Question:

Imagine that you are preparing your will and are trying to decide how to divide your assets between your two grown children. Your daughter Tonya is a chemical engineer who earns a high income. Your son Terry opted out of college and went to work straight out of high school. Now Terry works in construction; he works just as hard as Tanya, but he is less affluent than she is. Elaborate on each of the following concepts about fairness and distribution illustrated in the chapter. 

a. Split your wealth evenly between Terry and Tonya, because you always treat them equally. 

b. Leave Terry your wealth to offset the income gap between him and his sister. 

c. Leave your money to the child who you think deserves more money. 

d. Tell your kids you’ll leave your money to whoever does the most to take care of you in your old age.

e. Leave your money to charity instead.  

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question
Question Posted: