In her will, Leona Helmsley, NY hotel magnate, left $12 million dollars for the care of her dog. She left nothing to two of her four grandchildren, saying ‘the reasons are known to them’.
Even though Helmsley was a philanthropist, bequeathing millions of dollars to charitable organizations, she took a stand when it came to rewarding behavior she didn’t like. Her thinking may have been simple: “My dog loves me, is good to me, I feel appreciated and loved. Two of my grandchildren treat me badly. They don’t deserve anything. I’ll leave money for the other two.”
There is no law requiring parents to leave their children or grandchildren an inheritance. Blood lines don’t apply in the U.S. or England, the only two countries that practice the legal concept of ‘testamentary freedom’ – the right to designate who will inherit their estate.
That means children and grandchildren are not automatically entitled to any portion of their parents’ or grandparents’ estate. They receive an inheritance because parents choose to leave it to them. Inheritance lies not in the genes, but in the heart. It’s all about the quality of relationship, not family ties.
It can feel intimidating to talk to a lawyer. I’ve learned the hard way that if your lawyer can’t explain
I met a financial advisor years ago who had the most seductively soothing bedside manner. He had been recommended by
What does it mean to have a financially intimate marriage? If couples achieved financial intimacy, wouldn't that do a lot
Talk About Money Before You Marry Your wedding is in six weeks. You’ve tried to talk about money with your
My friend Karen looked shell shocked. Her jade green eyes had dark circles under them. Her hands shook as she
Financial intimacy is not about trust. It's about the relationship of two adults who choose to commit their lives to