Sibling rivalry hits a whole new level once money gets involved.
Some boomer and Gen X parents want to assist their grown children financially from time to time, either to enhance their kids’ lives or because their sons or daughters are struggling financially. But when is it OK to help one child more than another? And what’s the best way to do this without upsetting the family?
A case for financial transparency While parents aren’t obligated to discuss such decisions with their adult children, transparency can be beneficial to their relationships. Issues of entitlement Even when families have open communication and financial transparency, however, that doesn’t mean every family member will agree on what’s fair.Adult children may feel their parents owe them an equal share of their estate and get upset that the needy sibling is or will receive more than his or her share.
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