Tuesday , September 17 2024

My uncle allocates half of assets to second son while other 3 children share the rest


Instead of opting for equal asset distribution, my uncle chose to bequeath half of his estate to his second son, leaving the remaining half to be divided among his three other children.

Inheritance conflicts often happen as the value of assets varies significantly. Illustration photo by VnExpress/Quynh Tran

Inheritance conflicts often happen. Illustration photo by VnExpress/Quynh Tran

Legally, an equal division of inheritance among siblings is standard, but personal circumstances and views often lead parents to divide their assets differently. Some parents may favor sons over daughters, or the eldest child over younger siblings.

Historically, when agriculture was dominant and land was primarily used for rice cultivation, such divisions might have been more acceptable. Today, the value of assets varies significantly, which can lead to inheritance disputes. For instance, a house on a main street is more valuable than one in an alley, and urban land is more valuable than rural land. Consequently, disputes among siblings over inherited properties are common.

Inheritance involves not only tangible assets like land and houses but also intangible ones like relationships, existing customers, and business experiences. The distribution method varies with each family’s circumstances, including the children’s locations and occupations, so there is no one-size-fits-all rule.

In my opinion, to prevent disputes, it would be ideal for parents to divide their assets equally among their children. However, there are cases where an unequal division is justified, particularly when based on each child’s contribution to the family.

For example, my uncle in Hanoi had two sons and two daughters. He owned a machine shop, and his second son, who did not attend university, worked alongside him and supported the family business, while the other three children pursued their university studies. Therefore, it seems fair for this son to inherit half of the estate, as decided by my uncle.

Yet, it’s not uncommon for siblings in many families to feel aggrieved and unfavorably compare their shares, often driven by feelings of greed. It would be best for parents to divide their assets early and assess their children’s contributions transparently for a fair distribution. This approach ensures that all children are satisfied with the outcome.

I believe the ideal inheritance division is one that leaves everyone content and comfortable after receiving their share. For example, if parents are poor and own only their residence, it makes sense to divide it upon their death. However, if they are wealthier with multiple properties, it’s better to distribute them when the children become adults and start working. If the parents own a business, they should determine early which child will take over to ensure its continued growth.

In conclusion, parents must carefully consider the method and timing of dividing their assets among their children to provide the best means of livelihood. This is what wise parenting entails, instead of holding onto assets until death.

Do you agree with me?

Reader Hong Nhung

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