Is Dividing an Inheritance in Equal Fractions the Best Way?
You want to demonstrate to your three kids that you love them equally. At the same time (perhaps unconsciously) you want to make the writing of your Will as simple as possible. So you decide to divide equally whatever assets you will leave. Each child gets a third, right? There!
But is what you've done the best thing for all?
Well, everyone knows brothers and sisters always get along, giving each other nothing but loving smiles all their lives, right?
If you think so, you may wish to obtain the services of a skilled psychiatrist. You need to "be fixed."
Equal division of property is one of the best ways to divide a family and waste assets that could be benefiting them.
I, personally, have come across situations where houses and acres lie fallow, the house eventually falling to ruin, because family members couldn't agree what to do.
You say, "Simply sell them all and divide up the money?" That sometimes is what happens. All to often it IS NOT what happens.
Why not, instead, in your will, leave this child this item, that child that item, the other child the other item. Then the three do not have to decide what they will do with anything! And if they decide I'd rather have had this than that, they can do one of three things. They can, later, swap! Or, they can shut up and live with it. Or they can cuss you out for not having left you what you wanted. But that's your problem.
Image Credit » PD Wikipedia Image Tennessee Williams' Will https://upload.wikimedia.org/wikipedia/commons/b/b6/Tennessee_williams_will.jpg