Thursday, March 7, 2013
The best estate plan in the history of the world
That's a pretty ambitious title - "the best estate plan in the history of the world". Whether or not you agree that the estate plan set up by its originator, James, is the world's best is really a matter of personal philosophy. His plan involved leaving none of his millions of dollars to his four children, and leaving it all to charities except for $3. I'm attaching an article from the Farm and Ranch Guide, which tells James' story. Click here to read it and decide for yourself whether this is a good way to deal with your estate and your children (and to find out what the $3 was for).
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You have acquired your estate by working hard for you and your family to enjoy. When you leave them, you want your family to inherit the estate to give them a good life. But then, if they do not know how to handle their inheritance, they will lose it in no time. If you do not have a plan, it is better to start having one now by getting a professional not only to walk you through in accomplishing the requirements but will help preserve your estate planning.
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