However, when it comes to estate planning, this is important to consider. Children often really do feel like one is the favorite when compared to his or her brothers and sisters. This can create rivalries. It can breed distrust. It can make siblings feel like they are always working against one another.

As such, these rivalries sometimes lead to estate disputes. If the “favorite” child appears to get all of the best assets or gets more money than their siblings, that seems to solidify the other siblings’ ideas about who their parents preferred. Again, they’ll work against one another, and they may start legal disputes over the validity of the will.

Do parents actually have a child who is the favorite? Most will quickly tell you that they don’t. However, psychologists have studied it, and they say that parents actually do in many instances. The children know it, or they can at least sense it. The parents may not even do it consciously, but it’s hard for them not to treat the children differently when it’s easier to connect with one than the other or when one child is constantly in trouble and the other is not. It just happens.

To limit disputes, parents who worry about this may want to work hard to make the estate plan as even as possible.

Here’s the problem: Florida does not recognize most handwritten wills. Also known as “holographic” wills, they don’t hold any legal weight unless they meet the narrow exception in the law. To do that, a handwritten will must be:

• Signed by the testator or signed with the testator’s name by another person while in the testator’s presence and at their direction (to account for situations where the testator is physically unable to sign for some reason)
• Signed by at least two witnesses who were in the testator’s presence and in each other’s presence at the time that the will was signed

This can cause problems if you have a will that was properly executed and otherwise valid but make handwritten changes to its terms instead of having a codicil drawn up with the changes.

In general, relying on a handwritten will or a will that you downloaded from the internet is a bad gamble. If the terms are confusing or the court declares your will to be invalid, your assets will all be distributed as if you had died “intestate,” without expressing your wishes in a will. That’s one of the biggest reasons it’s always wise to work with an estate planning attorney when you draft your end-of-life documents.

But while giving each child an identical inheritance may seem like the best option for avoiding sibling rivalries, “equal” may not necessarily mean “fair” when it comes to your family’s dynamics. Here are a few things to keep in mind when determining your children’s inheritance:

When to consider equal amounts

If each of your children is similarly situated in life, it might make the most sense to leave them an equal inheritance. If you’ve more or less provided your kids with the same amount of financial support over the years, like paying for each of their college educations, giving them an equal share is likely the logical solution.

Even if you don’t necessarily think all of your kids deserve an equal share of your estate, doing so may spare your family from future lawsuits. If there’s a strong likelihood of a kid contesting a will after you pass on, it can take a huge financial and emotional toll on your loved ones.

When to consider different amounts

There are many instances in which an equal inheritance doesn’t make sense for your children. Perhaps you’ve helped out one child more than another when they were in financial need, or maybe one of your children cannot provide for themselves. You may also have a blended family and wish to leave a more significant share for your biological children than your stepchildren.

Other times, a child may have demonstrated that they don’t deserve an equal share. Maybe they have an addiction you don’t want to support or have been irresponsible with their money in the past.

The bottom line

While never easy, the decision of how you should divide your estate is ultimately yours. However, it would help if you considered the relationships your kids have with one another and the financial support you’ve given them in the past to determine the best course of action. If there’s a significant risk that your family will try to fight your final wishes, giving everyone an equal share may be the most harmonious option.

Simply put, digital assets are assets that exist online. Common digital assets people have include:

• Social media accounts
• Email accounts
• Personal photos stored online
• Online bank or investment accounts
• Virtual currencies like Bitcoin
• Credit card reward programs
• Any websites or blogs that generate income
• Digital photos, videos or written works that make income
• Information and documents stored in the cloud

Just as with tangible property, digital property can be passed on to beneficiaries through an estate plan. But if you don’t account for them, your family will likely face more than a few challenges gaining access to your valuable digital assets and vital personal information. Fortunately, these hurdles are avoidable by addressing your digital property in your estate plan.

Here are a few ways you can make your estate plan digital-savvy and ensure your loved ones can access your accounts:

Create a list of your digital assets

Start by cataloging all of your digital assets so that your family knows what you have and where to locate it. Be sure to include all essential passwords, online accounts and digital property. While you’ll want to store this list in a safe place, you’ll also want to make sure your loved ones know how to access it.

Determine what you truly own

There are instances in which you might not own an asset but, in fact, purchased a nontransferable license to use the asset. This is often the case when you buy music or videos online. If you have an extensive music or movie library online, be sure to check the terms of agreement with the vendors to determine whether you own it or have a license.

Back up data stored in the cloud

Try not to only rely on the cloud for backing up your essential data. If you store digital assets in the cloud, you should back them up regularly to a local computer or device to give your family members easier access.

Digital assets are becoming increasingly more important when planning for end-of-life. When creating your estate plan, be sure to account for your online assets and add to your list as needed.

An executor of a will is a person who manages the affairs of a deceased person’s estate. They collect and oversee the distribution of assets during probate, file estate tax returns when necessary and close the estate. But estates can be complex, and the probate process can last for months or even years in extreme cases.

Before you take on the executor’s role, it’s essential to understand the issues that can arise on the job. Here are three surprising challenges of estate planning you should consider before agreeing to be an executor of a will:

1. It eats up a lot of time

As mentioned above, acting as an executor can be time-consuming – especially if the estate is large and complicated. Even if everything goes smoothly, there is still a great deal of time contacting various government agencies, securing all assets and distributing them.

Fortunately, you don’t always have to take on executor duties alone. You may consider enlisting the help of an attorney or CPA to help you navigate the process more efficiently.

2. It could lead to conflicts with heirs

An executor is essentially a messenger for the deceased. Your role is only to secure assets and divide them according to the wishes of the will, but unfortunately, heirs don’t always make this process easy. Death can bring out the worst in families, especially when items of high monetary or sentimental value are involved.

To avoid conflict, try to quickly secure all property and assets and inform the heirs of the deceased that it is the law. Try to be as transparent as possible about the will-writer’s wishes and let heirs know what they can expect.

3. There may be out-of-pocket expenses

While the executor is usually permitted a commission for performing their duties, the amount of the commission is typically determined by the size of the estate. In many cases, you may be asked to waive any commission for your work, especially with smaller estates.

Consider paying any costs associated with the estate from an estate checking account and keep track of any out-of-pocket expenses you make as an executor. The estate may be able to reimburse some of these costs.

Acting as executor is an important job, but it isn’t without challenges. Before you agree to the responsibility, be sure you understand what your duties will entail.

We recommend that completing your estate planning be moved to the top of that annoying, back-of-your-mind to-do list. Our current situation highlights the importance of having revocable trusts or wills, powers of attorney, health care surrogates, and living wills in place and up to date. For those who have been stymied by difficult decisions such as selecting guardians, powers of attorney, and/or how to treat heirs/beneficiaries, seek guidance. For those hesitant to leave their homes, all aspects of a comprehensive estate plan can be completed remotely. Now is the time to wrap up this planning, giving you one less (huge) thing to fret about and, allowing you to move on to the next to-do item about which you have been procrastinating.