Having studied people as a lawyer for almost 20 years, I can tell you that almost every person who steals an inheritance, exploits an elderly person, or commits some other type of fraud or breach against a family member feels entirely justified for having committed the act. For example, the caregiver who exploits their elderly…
People can live with a bad money settlement, but they have a hard time living with injustice. Here is a good tip: Don’t enter into litigation in an inheritance dispute with the assumption that your case will settle. Don’t expect that the relative whom you are suing will eventually “cave” under the pressure…
Here’s a good tip. Temper your children’s expectations at the earliest possible point about how you want your family business to run after your passing/retirement. The key to early successful family business transitions are having all parties on the same page. Therefore, don’t lose the opportunity to direct those discussions when you are still “calling…
Every parent believes that their own kids are wonderful, special, and get along great. After all, you fondly recall seeing your adult kids and their families getting along so nicely with each other around your table last Thanksgiving. So, naturally, this blog post can’t apply to you… well, keep reading anyways. Because the reality…
Here is a great little tip I learned from a friend of mine. Before he hires anyone to work at his house, or around his loved-ones, he asks them to list their phone numbers (including cell phone numbers) and email addresses for the last 10 years. He even goes so far as to verify this information…
Let’s be honest, people-pleasers are very nice people to be around. People pleasers will go out of their way to say “yes”. They will very rarely give you a hard time, and will be personally pained if they have to say “no” to anything you ask of them. Let’s be honest again, people-pleasers make horrible…
Let me first take a moment to make a confession – I like professional trust companies. I like working with them. When it comes to trust administration, they make my job as a lawyer a lot easier. I find that things typically run a lot smoother and more efficient when a trust company is in…
A virtuous person is also charitable person, right? If that is the case, why is the family freaking out over the fact that Grandpa is becoming more involved with a new charity in his ripe old age? The answer of course, is that inheritance is poison. You see Grandpa’s family is counting on…
Ah, the good old fashion family business. A family business is truly a great source of income to estate litigators. Why? Because of the natural insecurities, fears, and anxieties that children working in a family business will have when the success of that business is largely the result of an enterprising parent. We are getting…
Congratulations. You have been chosen by your siblings as the most financial responsible and trustworthy member of the family. Your prize? You get to handle your elderly parent’s finances and bills!!! What’s your next step? Transparency. You need to figure how your actions will be transparent to the rest of the family. This way,…
How much is your brother’s relationship to you worth? You get some unsettling news. It appears that your brother, who you trusted to look after your elderly parent’s finances, may have been helping himself to a significant amount of unauthorized cash withdrawals from your parent’s account by misusing the power of attorney that was entrusted…
Here is a notion that you might not be comfortable with. Today, more than ever, your children are including inheritances on their financial statements. “But, how could that be??”, you ask… “I’ve never discussed my net worth with my kids.” “How would they know what I have?” Trust me, even if you never discussed…
A Truly Novel Concept- A family discussion about inheritances and eldercare decisions… O.k., you’ve been putting off the decision for years. But, the time has come. You’ve finally decided to get serious about creating an estate plan with your family. You even have a name of a good estate planner from a friend of yours…
Please don’t use your estate plan to send your kids the wrong message. Let’s say you have two children. On the one hand, you have a wonderful daughter who is a very successful investment banker, and makes a very good living. You and she both know that she does not need one dime of your…
Disinheritance – the final curtain. Please consider these words very carefully. Disinheriting a child is a deep and hurtful pain that is never forgotten or forgiven. The act is a lowering of a final curtain, that can never be raised again. So, take a long pause… and seriously consider if a total disinheritance of a…
Can your children work together as your fiduciaries? You have two wonderful grown-up children. They are both accomplished in their career fields, with wonderful families of their own. They are dutiful, and make sure to call and visit you all of the time. So when it comes to selecting the fiduciaries who will handle your…
Durable power of attorney abuse. As the saying goes, “With great power comes great responsibility.” No truer statement could be made about the power you grant your agent/attorney-in-fact in a durable power of attorney. Make no mistake about it, a durable power of attorney is a very powerful document. It essentially allows a person to…
Emergency, Emergency, Emergency!!!! Here’s a bit of good advice for you to know when it comes to dealing with live-in-caregivers. Count on, and I mean really count on, the fact that you will be hit up for a loan by a caregiver. Now, the good news is that this won’t happen right away. It will…
Here is a red flag for you to watch out for when it comes to elder abuse… Let’s say that after a painstaking search process, you have finally found a wonderful live-in caregiver to take care of your elderly father. You put the two of them together, holding your breath, hoping everything will work out…
According to the Center for Disease Control, a person’s average life expectancy these days is approximately 78 years. That is a 10 year increase from a life expectancy of only 68 years in 1970, and a 5 year increase from 1990. That is great news, and all of us hope and pray that these numbers…
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