Ultimogeniture
Ultimogeniture, also known as postremogeniture or junior right, is the tradition of inheritance by the last-born of the entirety of, or a privileged position in, a parent's wealth, estate or office. The tradition has been far rarer historically than primogeniture (sole inheritance by the first-born) or partible inheritance (division of the estate among the children).
Advantages and disadvantages
Ultimogeniture might be considered appropriate in circumstances where the youngest child had been assigned the role of "keeping the hearth", taking care of the parents and continuing at home, whereas elder children had had time and opportunity to succeed in the world and provide for themselves. In a variation on the system, elder children might have received a share of land and moveable property at a younger age, for example when marrying and founding their own family. Ultimogeniture might also be considered appropriate for the estates of elderly rulers and property-owners, whose children were likely to be mature adults.