On 8/9/2014 8:09 PM, Kalmia wrote:

>> I'm sure you have good reasons, I just always find it sad when family
>>
>> members are estranged, nothing more.
>
> I know at LEAST 5 sets of siblings who aren't talking because of a fight over the parents' assets. Each one thinks the other one 'robbed' them. I know one guy who's spent 50K in legal fees fighting a brother who claims blah blah blah. It's too bad, but it seems to be more common lately.
>

Trusts and estates were my business before retiring early to become a
road warrior. At one time I worked for the most prestigious firm in that
field in New Jersey. The guy I worked for actually wrote the state
Probate Practices book. I co-authored a book on New Jersey Inheritance
Taxes and practices with an attorney friend.

I can tell you stories of entire fortunes being dissipated by angry
siblings. No one ever wins except the lawyers in these cases.

People who have a lot of assets should ALWAYS go to the best estate
planning lawyers. I guaranty they will pay less in legal fees to draft a
good estate plan than their children will pay in lawyers fees to fight a
bad one.

When I did my first will, after divorcing the father of my children, I
left my jewelry and personal effects to my two (they were both living
then) daughters. I directed my executor that should there be any
disagreement between them, he was to take the property, sell it and
donate the proceeds to the charity of my choice. If you can't play
nicely, you get nothing. Mommy from the grave. :-)

The will was a gift from an attorney I had worked with and helped to
build up his probate practice.


--
From somewhere very deep in the heart of Texas