Beyond the Grave: The Right Way and the Wrong Way of Leaving Money to Your Children and Others

Beyond the Grave: The Right Way and the Wrong Way of Leaving Money to Your Children and Others

by Gerald M. Condon, Jeffrey L. Condon
     
 

A loved one's death is painful enough. Why should your survivors suffer more by squabbling over their inheritance? Beyond the Grave is the first book to show you how to:

  • Prevent common family bickering that arises when parents die
  • Protect your child's inheritance from an ex-spouse, creditor, cult, or addiction
  • Compel your children to share

See more details below

Overview

A loved one's death is painful enough. Why should your survivors suffer more by squabbling over their inheritance? Beyond the Grave is the first book to show you how to:

  • Prevent common family bickering that arises when parents die
  • Protect your child's inheritance from an ex-spouse, creditor, cult, or addiction
  • Compel your children to share their inheritance when they couldn't share their toys
  • Divide the family home without dividing your family
  • Protect your surviving spouse from pushy kids, greedy caretakers, and charming cheats
  • Leave more to your family and less to Uncle Sam
  • Prevent a charity from using your donation to buy Cadillacs for its executives

Beyond the Grave factors human nature into estate planning, with common sense and "tough love" advice for making tough but loving decisions concerning the welfare of our survivors through life -- and beyond death. It's a must-have, before it's too late.

Read More

Product Details

ISBN-13:
9780887307973
Publisher:
HarperCollins Publishers
Publication date:
01/28/1996
Pages:
384
Product dimensions:
5.29(w) x 8.06(h) x 1.02(d)

Related Subjects

Read an Excerpt

Chapter One

What This Book Will Do for Youor
Why Learn the Hard Way — When You Can Read This Book?

Some attorneys are in the business of helping you accumulate money and property. I am in the business of transferring your lifetime of accumulations to your children and/or other heirs after you die. In short, what I do is create inheritance plans.

An inheritance plan speaks for you "from the grave." Often it will be in the form of a Will. Sometimes it takes the shape of a Living Trust. It could be as simple as a single written sentence or as complex as a hundred-page instruction manual.

Whatever the form, an inheritance plan boils down to one purpose: It is your instructions as to who inherits your money and property, when they inherit, and on what conditions they inherit.

In my thirty-five years of practice, I have created inheritance plans for hundreds of clients. Of course, my clients, being dead, will never know the outcome of these plans. I, however, serve as their "periscope from the grave." I witness firsthand the impact of my advice and judgment calls on my clients' children, spouses, and other heirs.

As an inheritance-planning lawyer, I have seen a lot of these plans play out over time—both mine and those of my colleagues. And what have I seen? On most occasions, it is the smooth transition of wealth from client to heir, from spouse to spouse, from parent to child to grandchild. The client dies, the inheritance plan is read, the money and property is distributed, and life goes on.

Many times, however, an inheritance plan "goes sour," leaving bitter family legacies.

I have seen plansunintentionally result in battles between disgruntled and combative heirs. I have watched helplessly as "sound" inheritance advice of years ago inadvertently create chasms between children that may never be bridged. I have read the inheritance instructions of Wills and Living Trusts that seemed well conceived on paper, but in practice left legacies of conflict and chaos.

I have, in essence, learned that there is a right way and a wrong way of leaving money and property to spouses, children, grandchildren, and other heirs. You, however, do not have to learn the hard way. That is why I wrote this book. The stories and examples I describe may point out inheritance conflicts that could arise in your family, with strategies you can implement to avoid them.

Inheritance planning, however, is more than just preventing and resolving inheritance conflicts. It is also recognizing the numerous other inheritance problems that may rear their ugly heads. And as the old saying goes, recognizing a problem is 95 percent of its solution.

When I started in this business, I simply could not fathom the myriad problems and risks that often surface in inheritance situations. After thirty-five years of seeing "what happens" when wealth is transferred to heirs, I believe I have witnessed the entire parade of horribles.

I have seen the surviving spouse who lost the family money to the last caretaker.

I have seen the daughter who lost her inheritance to her husband in a divorce.

I have seen the son whose business creditors "ate up" his entire inheritance.

I have seen the charity that used my client's money to buy Cadillacs for its directors.

I have seen clients' hard-earned money and property end up with their daughters-in-law's second husbands.

I have seen the children who had to give the IRS one-half of their inheritance in death taxes.

I have seen the daughter who magnanimously bestowed her entire inheritance to a cult.

I have seen the son who was supposed to handle his disabled sibling's share of the inheritance but who instead put it in his own pocket and walked away.

In this book, I will open your eyes as mine have been opened. I will show you the many fates that may befall your family. I will bring your attention to problems and issues in inheritance planning that you may not have otherwise considered. I will show you risks your money and property could be subject to once they are in the hands of your children, spouse, or other heirs.

By making you aware of these problems and giving you solutions, you can avoid the traps that so often hurt those whom you sought only to help...

Read More

Customer Reviews

Average Review:

Write a Review

and post it to your social network

     

Most Helpful Customer Reviews

See all customer reviews >