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Key Considerations: Whether you’re drawn to Warren Buffett’s philosophy of giving “enough to do anything, but not so much to do nothing,” or you’re trying to figure out how to balance fairness among children with different needs and abilities, this article provides practical guidance. Some takeaways worth noting include:

📌 Start with your ideal outcome: If you had a magic wand, what legacy would you create?

📌 Define fairness: Equal isn’t always equitable when children have different needs or life paths

📌 Explore options like trusts: These can offer control and tax benefits

📌 Be careful with emotional assets: Vacation homes and family businesses require thoughtful handling

📌 Be transparent: Share your plans with your family and revisit them as your life—and theirs—evolves

Remember: You can have the best laid estate plan, but without a purpose-driven strategy, clarity, and communication, it might do more harm than good.