Are All of Your Kids Equal?

Holiday shopping done yet? Me either. Just like you, I’m crazy busy with work, my husband, my kid, and that to-do list that, no matter what I do, only seems to only get longer.

So understand I feel your pain when I drop this new to-do on you: It’s time to make sure all your kids are created equal. This means the before and the after kids – your kids, and your partner’s kids from a previous marriage.

If you don’t have kids yet, reading this post will help you ensure any future children will be treated equally.

Making sure all of your kids receive an equally fabulous gift this holiday season is tough to say the least, especially when exes are involved. But I want you to think beyond the seasonal trinkets and toys that will be yesterday’s news come the spring thaw.

I want you to think about asset allocation. You: Groan. Me: Okay, okay. Bing Crosby is singing on the radio, you’re hanging up twinkling lights, and you're eating cordial cherries without feeling guilty. The LAST thing you want to think about is asset allocation.

Hear me out. People with children from more than one relationship must carefully consider if they have allocated their assets equally among ALL of their children. Very often, one set of kids gets the shaft; either the old family becomes invisible, or the new family is considered second best.

For example, what if one set of kids will inherit a trust fund at age 21, and the other set of kids will have to work their way through college? That kind of disparity is likely to make things rough at the dinner table.

What’s the best gift you can give your kids this holiday season? Find a way to treat all of your kids as equally as possible – from the presents under the tree, to the assets in the bank.

PS: If you see me at the mall looking dazed and confused, just pat me on the shoulder and point me in the direction of Starbucks…