We added one of my children to the deed on our property via a quitclaim deed. We signed at home with no witnesses or notary....Read more
Preparing Heirs: Five Steps to a Successful Transition of Family Wealth and Values
- November 25th, 2008
Roy Williams and Vic Preisser. Preparing Heirs: Five Steps to a Successful Transition of Family Wealth and Values. Robert D. Reed Publishers, San Francisco, CA. 2003. 182 pages.
$19.77 from Amazon (click on book to order)
If you have worked hard to accumulate wealth, you probably want to make sure your heirs don't lose control of it. Preparing Heirs gives families the tools to successfully transfer wealth from one generation to the next.
The authors, both of whom are family coaches with many years of experience counseling wealthy families, interviewed thousands of families and discovered that 70 percent of wealth transfers fail. Preparing Heirs explains the techniques that worked for the 30 percent of families that successfully "transitioned" wealth.
According to the authors, the key to a successful transition of wealth is family involvement. "The most important single issue that undermines successful transfers of wealth is the breakdown of trust and communications within the family unit," they write. Using handy checklists, Preparing Heirs discusses how to assess a wealth transition plan, how to fix deficiencies in the plan, how to prepare heirs, and how heirs can prepare themselves.
For mid-size and large estates, this book offers valuable advice on successfully transferring wealth to the next generation and beyond.
Local Elder Law Attorneys in Ashburn, VA
Hammond and Associates, LLC, Elder Law, Estate Planning, Wills, Trusts, Probate
For Jeffrey Hammond, the practice of Elder Law is personal. Jeff’s many years of experience in law and in business did not prepare him for the crisis he faced in 2005 and 2006 when his father suffered a stroke and both of his parents suffered from dementia and other medical problems. At that time, Jeff began an i...
Ron M. Landsman, P.A.
Ron M. Landsman has been practicing elder law since 1983, before it was known as elder law, originally with Landsman and Laster, Washington, D.C., then Landsman, Eakes and Laster, also in Arlington, VA, and since 1990 in his own practice in Montgomery County, Maryland. He has been among the most active members of the...